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Creditarea si instabilitatea economica. Studiu de sinteza


  • Olteanu, Dan Constantin

    (Institutul National de Cercetari Economice al Academiei Române)


The study summarizes the main theories concerning the bidirectional relationship between the evolution of credit and the economic stability, focusing on the "unorthodox" trends of thought, the only ones explaining the negative effects of credit and indebtedness on the sustainability of economic growth. We have shown that the distortions caused by the credit are rooted in three sources: (i) the pyramidal system of lending, and the economic growth dependance of continuous supply of credit; (ii) the over-indebtedness of companies and households, followed by debt deflation; (iii) the development of financial market

Suggested Citation

  • Olteanu, Dan Constantin, 2014. "Creditarea si instabilitatea economica. Studiu de sinteza," Studii Economice 140714, National Institute of Economic Research.
  • Handle: RePEc:ror:seince:140714

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    Cited by:

    1. repec:cbu:jrnlec:y:2018:v:6:p:64-61 is not listed on IDEAS
    2. Olteanu, Dan, 2014. "Creditless Recovery In Eastern Europe," Working Papers of National Institute of Economic Research 141212, National Institute of Economic Research.

    More about this item


    Credit; Indebtedness; Debt deflation;

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)

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