Creditarea si instabilitatea economica. Studiu de sinteza

Dan Olteanu

Studii Economice from Institutul National de Cercetari Economice (INCE)

Abstract: The study summarizes the main theories concerning the bidirectional relationship between the evolution of credit and the economic stability, focusing on the "unorthodox" trends of thought, the only ones explaining the negative effects of credit and indebtedness on the sustainability of economic growth. We have shown that the distortions caused by the credit are rooted in three sources: (i) the pyramidal system of lending, and the economic growth dependance of continuous supply of credit; (ii) the over-indebtedness of companies and households, followed by debt deflation; (iii) the development of financial market

Keywords: Credit; Indebtedness; Debt deflation (search for similar items in EconPapers)
JEL-codes: E30 E51 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2014-07
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ror:seince:140714

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