Ajustement des entreprises et distribution du crédit pendant la transition

Jérôme Sgard ()
Additional contact information
Jérôme Sgard: CERI - Centre de recherches internationales (Sciences Po, CNRS) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique

Post-Print from HAL

Abstract: Enterprise adjustment and the distribution of credit during transition. a comparison of four central european countries On the basis of monetary and banking statistical series, this article highlights the very large ex post divergences between credit policies in four transitional economies (Bulgaria, Hungary, Poland, the Czech and Slovak Republics). These national patterns are then interpreted as the result of different paths of evolution in the credit relationship, between banks and enterprises, since 1990. Three main categories of variables are identified as decisive in this process : macroeconomic constraints (esp. public deficits and foreign debt), public intervention in the banking sector i.a. under the form of recapitalisation programs ; then the conditions under which accumulated stocks of assets and liabilities have been either preserved or drastically run down during the early months of remoneti-sation.

Keywords: Financement des entreprises; Politiques de crédit; Indicateurs bancaires et monétaires (search for similar items in EconPapers)
Date: 1995-05
Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-03585825
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in Revue Economique, 1995, 46 (3), pp.787 - 796. ⟨10.2307/3502424⟩

Downloads: (external link)
https://sciencespo.hal.science/hal-03585825/document (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03585825

DOI: 10.2307/3502424

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().