Estimating a credit gap for non-financial corporations in Malta

Brian Micallef

No WP/04/2015, CBM Working Papers from Central Bank of Malta

Abstract: This paper documents two approaches that are used to estimate a credit gap, defined as the difference between actual developments in credit to non-financial corporations (NFCs) in Malta and a hypothetical path that would have been realised had the past historical relationships over the period 1995-2011 were to be maintained over the period 2012-2014. Both methods suggest that a credit gap emerged in 2012, which widened significantly in 2013 and 2014. As at 2014Q3, the credit gap is estimated between €680 and €830 million. In addition, the two approaches indicate that the credit gap will widen further over 2015-2016.

JEL-codes: C5 E51 G00 (search for similar items in EconPapers)
Pages: 13 pgs
New Economics Papers: this item is included in nep-mac
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https://www.centralbankmalta.org/file.aspx?f=11219 First version, 2015 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:mlt:wpaper:0415

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