The Influence of Lending on Business Cycles

Sãveanu Cristina () and Tofãnicã Ramona-Ionela ()
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Sãveanu Cristina: ,,Alexandru Ioan-Cuza’’ University of Iaºi, Doctoral School of Economics
Tofãnicã Ramona-Ionela: ,,Alexandru Ioan-Cuza’’ University of Iaºi, Doctoral School of Economics

Ovidius University Annals, Economic Sciences Series, 2014, vol. XIV, issue 1, 194-197

Abstract: Access to finance remains one of the fundamental problems of Romanian companies, influencing the continuity of their economic activity and determining the maintenance of their long term commercial relationships. This paper aims to reflect the links and influences between business cycle and lending relationship, focusing on difficulties and constraints that appear in a debtor-creditor partnership. The credit market is seen from the perspective of principal-agent theory and the channels of risk between the financial sector and the real sector are judged from the financial accelerator perspective.

Keywords: business cycle; credit; risk (search for similar items in EconPapers)
JEL-codes: E32 E51 G32 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xiv:y:2014:i:1:p:194-197

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