Delayed Credit Recovery in Croatia: Supply or Demand Driven? (CROSBI ID 271426)
Prilog u časopisu | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Dumičić, Mirna ; Ljubaj, Igor
engleski
Delayed Credit Recovery in Croatia: Supply or Demand Driven?
In order to enhance the understanding of credit cycle dynamics in Croatia, we explore the evolution of credit demand and credit supply of corporates and households in Croatia and identify their determinants based on the switching regression framework. These results are crosschecked by the insights from the bank lending survey. The conducted analysis shows there are both supply and demand-side factors that limit the possibility of intensifying household and corporate credit activity. However, a more pronounced drag seems to be coming from subdued demand, which is greatly influenced by the unfavourable domestic macroeconomic environment and, particularly, GDP developments. This suggests that it is not unusual that credit recovery is still missing but also confirms that the scope for monetary policy to stimulate lending is limited.
credit supply, credit demand, households, corporates, Croatia, switching regression framework
nije evidentirano
nije evidentirano
nije evidentirano
nije evidentirano
nije evidentirano
nije evidentirano
Podaci o izdanju
1
2018.
121-144
objavljeno
1800-9581
2336-9205
10.2478/jcbtp-2018-0006
Povezanost rada
Ekonomija