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Ajustement des entreprises et distribution du crédit pendant la transition: Une comparaison de quatre pays d'Europe centrale et orientale

Author

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  • Jérôme Sgard

    (Centre de recherches internationales)

Abstract

À partir d'une série d'indicateurs bancaires et monétaires, cet article met en valeur la très grande diversité ex-post des politiques de crédit suivies depuis 1990 dans quatre économies en transition. On montre que cette divergence est liée à des profils divergents d'ajustement de la relation de crédit entre banques et entre­prises, sous l'impact lui-même variable de trois catégories de facteurs: les contraintes macro-économiques (déficit public et dette extérieure en particulier), les interventions publiques dans le secteur bancaire (notamment les recapitalisa­tions), enfin les conditions dans lesquelles les stocks de dettes constitués avant la transition ont été ou non préservés pendant les premiers mois de la transition.

Suggested Citation

  • Jérôme Sgard, 1995. "Ajustement des entreprises et distribution du crédit pendant la transition: Une comparaison de quatre pays d'Europe centrale et orientale," Sciences Po publications info:hdl:2441/7104, Sciences Po.
    • Handle: RePEc:spo:wpmain:info:hdl:2441/7104
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    References listed on IDEAS

    as
    1. Mr. Guillermo Calvo & Mr. Eduardo Borensztein & Mr. Paul R Masson & Mr. Manmohan S. Kumar, 1993. "Financial Sector Reforms and Exchange Arrangements in Eastern Europe," IMF Occasional Papers 1993/002, International Monetary Fund.
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    More about this item

    Keywords

    Financement des entreprises; Politiques de crédit; Indicateurs bancaires et monétaires;
    All these keywords.

    JEL classification:

    • P34 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Finance
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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