Justifiable Thrift or Feverish Animal Spirits: What Stirred the Corporate Credit Crunch in Poland Report as inadecuate




Justifiable Thrift or Feverish Animal Spirits: What Stirred the Corporate Credit Crunch in Poland - Download this document for free, or read online. Document in PDF available to download.

Abstract

This paper concerns the problem of corporate credit in Poland and tries to determine the sources of banks’ unexpected hesitance to provide enterprises with additional liquidity, which was observed during the global financial crisis. It differentiates between fundamental and non-fundamental determinants, which – when combined – reconstruct the course of events that led to the slowdown. A special attention is devoted to variables believed to be behavioral and theoretically inconsistent with the conventional belief of how lending activities are coordinated. A structural vector autoregression SVAR is run and impulse response functions are produced to provide a numerical support for the developed theoretical framework.



Item Type: MPRA Paper -

Original Title: Justifiable Thrift or Feverish Animal Spirits: What Stirred the Corporate Credit Crunch in Poland?-

Language: English-

Keywords: Corporate credit; credit crunch-

Subjects: E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E51 - Money Supply ; Credit ; Money MultipliersE - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their PoliciesG - Financial Economics > G2 - Financial Institutions and Services > G21 - Banks ; Depository Institutions ; Micro Finance Institutions ; Mortgages-





Author: Senderski, Marcin

Source: https://mpra.ub.uni-muenchen.de/43674/







Related documents