Eintrag weiter verarbeiten
Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries
Gespeichert in:
| Zeitschriftentitel: | Sustainability |
|---|---|
| Personen und Körperschaften: | , , |
| In: | Sustainability, 13, 2021, 11, S. 6349 |
| Format: | E-Article |
| Sprache: | Englisch |
| veröffentlicht: |
MDPI AG
|
| Schlagwörter: |
| author_facet |
Altăr, Adam Kubinschi, Matei Nicolae Zaharia, Alina Altăr, Adam Kubinschi, Matei Nicolae Zaharia, Alina |
|---|---|
| author |
Altăr, Adam Kubinschi, Matei Nicolae Zaharia, Alina |
| spellingShingle |
Altăr, Adam Kubinschi, Matei Nicolae Zaharia, Alina Sustainability Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries Management, Monitoring, Policy and Law Renewable Energy, Sustainability and the Environment Geography, Planning and Development Building and Construction |
| author_sort |
altăr, adam |
| spelling |
Altăr, Adam Kubinschi, Matei Nicolae Zaharia, Alina 2071-1050 MDPI AG Management, Monitoring, Policy and Law Renewable Energy, Sustainability and the Environment Geography, Planning and Development Building and Construction http://dx.doi.org/10.3390/su13116349 <jats:p>Establishing a functional financial sector has been one of the pillars of transition to a functional market economy over the last three decades in the CEE region. The present paper provides a comprehensive analysis of the relationship between credit and economic growth in selected CEE countries, namely, Czechia, Romania, Poland and Hungary, aiming to answer questions related to (i) the role of the banking sector in fostering sustainable economic growth and the causality direction between the financial and real sector, (ii) the relationship between consumption and investment and certain categories of loans and (iii) the identification of loan supply shocks and their role in explaining the dynamics associated with other macroeconomic variables. Using a time-varying parameter structural vector autoregression model with stochastic volatility (TVP-SVAR) and sign restrictions, we identify a non-financial corporations (NFC) credit supply shock and an investment shock. Potential policy solutions to ensure a sound contribution of the financial sector to economic growth in the analyzed economies relate to the strong relationship identified between the two variables. From this perspective, the study is among the first to employ a robust dynamic framework for assessing the role of the financial sector in fostering sustainable economic growth in European emerging market economies.</jats:p> Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries Sustainability |
| doi_str_mv |
10.3390/su13116349 |
| facet_avail |
Online Free |
| finc_class_facet |
Wirtschaftswissenschaften Geographie Technik |
| format |
ElectronicArticle |
| fullrecord |
blob:ai-49-aHR0cDovL2R4LmRvaS5vcmcvMTAuMzM5MC9zdTEzMTE2MzQ5 |
| id |
ai-49-aHR0cDovL2R4LmRvaS5vcmcvMTAuMzM5MC9zdTEzMTE2MzQ5 |
| institution |
DE-Gla1 DE-Zi4 DE-15 DE-Pl11 DE-Rs1 DE-105 DE-14 DE-Ch1 DE-L229 DE-D275 DE-Bn3 DE-Brt1 DE-Zwi2 DE-D161 |
| imprint |
MDPI AG, 2021 |
| imprint_str_mv |
MDPI AG, 2021 |
| issn |
2071-1050 |
| issn_str_mv |
2071-1050 |
| language |
English |
| mega_collection |
MDPI AG (CrossRef) |
| match_str |
altar2021uncoveringthedynamicrelationshipbetweencreditandsustainableeconomicgrowthinselectedceecountries |
| publishDateSort |
2021 |
| publisher |
MDPI AG |
| recordtype |
ai |
| record_format |
ai |
| series |
Sustainability |
| source_id |
49 |
| title |
Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries |
| title_unstemmed |
Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries |
| title_full |
Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries |
| title_fullStr |
Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries |
| title_full_unstemmed |
Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries |
| title_short |
Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries |
| title_sort |
uncovering the dynamic relationship between credit and sustainable economic growth in selected cee countries |
| topic |
Management, Monitoring, Policy and Law Renewable Energy, Sustainability and the Environment Geography, Planning and Development Building and Construction |
| url |
http://dx.doi.org/10.3390/su13116349 |
| publishDate |
2021 |
| physical |
6349 |
| description |
<jats:p>Establishing a functional financial sector has been one of the pillars of transition to a functional market economy over the last three decades in the CEE region. The present paper provides a comprehensive analysis of the relationship between credit and economic growth in selected CEE countries, namely, Czechia, Romania, Poland and Hungary, aiming to answer questions related to (i) the role of the banking sector in fostering sustainable economic growth and the causality direction between the financial and real sector, (ii) the relationship between consumption and investment and certain categories of loans and (iii) the identification of loan supply shocks and their role in explaining the dynamics associated with other macroeconomic variables. Using a time-varying parameter structural vector autoregression model with stochastic volatility (TVP-SVAR) and sign restrictions, we identify a non-financial corporations (NFC) credit supply shock and an investment shock. Potential policy solutions to ensure a sound contribution of the financial sector to economic growth in the analyzed economies relate to the strong relationship identified between the two variables. From this perspective, the study is among the first to employ a robust dynamic framework for assessing the role of the financial sector in fostering sustainable economic growth in European emerging market economies.</jats:p> |
| container_issue |
11 |
| container_start_page |
0 |
| container_title |
Sustainability |
| container_volume |
13 |
| format_de105 |
Article, E-Article |
| format_de14 |
Article, E-Article |
| format_de15 |
Article, E-Article |
| format_de520 |
Article, E-Article |
| format_de540 |
Article, E-Article |
| format_dech1 |
Article, E-Article |
| format_ded117 |
Article, E-Article |
| format_degla1 |
E-Article |
| format_del152 |
Buch |
| format_del189 |
Article, E-Article |
| format_dezi4 |
Article |
| format_dezwi2 |
Article, E-Article |
| format_finc |
Article, E-Article |
| format_nrw |
Article, E-Article |
| _version_ |
1792328762588659717 |
| geogr_code |
not assigned |
| last_indexed |
2024-03-01T12:58:27.333Z |
| geogr_code_person |
not assigned |
| openURL |
url_ver=Z39.88-2004&ctx_ver=Z39.88-2004&ctx_enc=info%3Aofi%2Fenc%3AUTF-8&rfr_id=info%3Asid%2Fvufind.svn.sourceforge.net%3Agenerator&rft.title=Uncovering+the+Dynamic+Relationship+between+Credit+and+Sustainable+Economic+Growth+in+Selected+CEE+Countries&rft.date=2021-06-03&genre=article&issn=2071-1050&volume=13&issue=11&pages=6349&jtitle=Sustainability&atitle=Uncovering+the+Dynamic+Relationship+between+Credit+and+Sustainable+Economic+Growth+in+Selected+CEE+Countries&aulast=Zaharia&aufirst=Alina&rft_id=info%3Adoi%2F10.3390%2Fsu13116349&rft.language%5B0%5D=eng |
| SOLR | |
| _version_ | 1792328762588659717 |
| author | Altăr, Adam, Kubinschi, Matei Nicolae, Zaharia, Alina |
| author_facet | Altăr, Adam, Kubinschi, Matei Nicolae, Zaharia, Alina, Altăr, Adam, Kubinschi, Matei Nicolae, Zaharia, Alina |
| author_sort | altăr, adam |
| container_issue | 11 |
| container_start_page | 0 |
| container_title | Sustainability |
| container_volume | 13 |
| description | <jats:p>Establishing a functional financial sector has been one of the pillars of transition to a functional market economy over the last three decades in the CEE region. The present paper provides a comprehensive analysis of the relationship between credit and economic growth in selected CEE countries, namely, Czechia, Romania, Poland and Hungary, aiming to answer questions related to (i) the role of the banking sector in fostering sustainable economic growth and the causality direction between the financial and real sector, (ii) the relationship between consumption and investment and certain categories of loans and (iii) the identification of loan supply shocks and their role in explaining the dynamics associated with other macroeconomic variables. Using a time-varying parameter structural vector autoregression model with stochastic volatility (TVP-SVAR) and sign restrictions, we identify a non-financial corporations (NFC) credit supply shock and an investment shock. Potential policy solutions to ensure a sound contribution of the financial sector to economic growth in the analyzed economies relate to the strong relationship identified between the two variables. From this perspective, the study is among the first to employ a robust dynamic framework for assessing the role of the financial sector in fostering sustainable economic growth in European emerging market economies.</jats:p> |
| doi_str_mv | 10.3390/su13116349 |
| facet_avail | Online, Free |
| finc_class_facet | Wirtschaftswissenschaften, Geographie, Technik |
| format | ElectronicArticle |
| format_de105 | Article, E-Article |
| format_de14 | Article, E-Article |
| format_de15 | Article, E-Article |
| format_de520 | Article, E-Article |
| format_de540 | Article, E-Article |
| format_dech1 | Article, E-Article |
| format_ded117 | Article, E-Article |
| format_degla1 | E-Article |
| format_del152 | Buch |
| format_del189 | Article, E-Article |
| format_dezi4 | Article |
| format_dezwi2 | Article, E-Article |
| format_finc | Article, E-Article |
| format_nrw | Article, E-Article |
| geogr_code | not assigned |
| geogr_code_person | not assigned |
| id | ai-49-aHR0cDovL2R4LmRvaS5vcmcvMTAuMzM5MC9zdTEzMTE2MzQ5 |
| imprint | MDPI AG, 2021 |
| imprint_str_mv | MDPI AG, 2021 |
| institution | DE-Gla1, DE-Zi4, DE-15, DE-Pl11, DE-Rs1, DE-105, DE-14, DE-Ch1, DE-L229, DE-D275, DE-Bn3, DE-Brt1, DE-Zwi2, DE-D161 |
| issn | 2071-1050 |
| issn_str_mv | 2071-1050 |
| language | English |
| last_indexed | 2024-03-01T12:58:27.333Z |
| match_str | altar2021uncoveringthedynamicrelationshipbetweencreditandsustainableeconomicgrowthinselectedceecountries |
| mega_collection | MDPI AG (CrossRef) |
| physical | 6349 |
| publishDate | 2021 |
| publishDateSort | 2021 |
| publisher | MDPI AG |
| record_format | ai |
| recordtype | ai |
| series | Sustainability |
| source_id | 49 |
| spelling | Altăr, Adam Kubinschi, Matei Nicolae Zaharia, Alina 2071-1050 MDPI AG Management, Monitoring, Policy and Law Renewable Energy, Sustainability and the Environment Geography, Planning and Development Building and Construction http://dx.doi.org/10.3390/su13116349 <jats:p>Establishing a functional financial sector has been one of the pillars of transition to a functional market economy over the last three decades in the CEE region. The present paper provides a comprehensive analysis of the relationship between credit and economic growth in selected CEE countries, namely, Czechia, Romania, Poland and Hungary, aiming to answer questions related to (i) the role of the banking sector in fostering sustainable economic growth and the causality direction between the financial and real sector, (ii) the relationship between consumption and investment and certain categories of loans and (iii) the identification of loan supply shocks and their role in explaining the dynamics associated with other macroeconomic variables. Using a time-varying parameter structural vector autoregression model with stochastic volatility (TVP-SVAR) and sign restrictions, we identify a non-financial corporations (NFC) credit supply shock and an investment shock. Potential policy solutions to ensure a sound contribution of the financial sector to economic growth in the analyzed economies relate to the strong relationship identified between the two variables. From this perspective, the study is among the first to employ a robust dynamic framework for assessing the role of the financial sector in fostering sustainable economic growth in European emerging market economies.</jats:p> Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries Sustainability |
| spellingShingle | Altăr, Adam, Kubinschi, Matei Nicolae, Zaharia, Alina, Sustainability, Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries, Management, Monitoring, Policy and Law, Renewable Energy, Sustainability and the Environment, Geography, Planning and Development, Building and Construction |
| title | Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries |
| title_full | Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries |
| title_fullStr | Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries |
| title_full_unstemmed | Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries |
| title_short | Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries |
| title_sort | uncovering the dynamic relationship between credit and sustainable economic growth in selected cee countries |
| title_unstemmed | Uncovering the Dynamic Relationship between Credit and Sustainable Economic Growth in Selected CEE Countries |
| topic | Management, Monitoring, Policy and Law, Renewable Energy, Sustainability and the Environment, Geography, Planning and Development, Building and Construction |
| url | http://dx.doi.org/10.3390/su13116349 |