Credit policy, inflation and growth in a financially repressed economy
| Authors | |
|---|---|
| Publication date | 1983 |
| Journal | Journal of Development Economics |
| Volume | Issue number | 13 | 1/2 |
| Pages (from-to) | 45-- |
| Number of pages | 21 |
| Organisations |
|
| Abstract | This paper analyzes credit policy in an open economy macro-model incorporating stylized facts about the financial sector of less developed countries. The Keynes-Wicksell growth model is applied in view of the transmission channel of monetary policy into the supply side of the economy via the cost of working capital. This shows a tendency of a credit crunch to be stagflationary in the short run. |
| Document type | Article |
| Published at |
https://doi.org/10.1016/0304-3878(83)90049-4
(Final published version)
|
| Permalink to this page | |
