Saini, Seema, Ahmad, Wasim and Bekiros, Stelios (2021) Understanding the credit cycle and business cycle dynamics in India. International Review of Economics and Finance, 76. 988 - 1006. ISSN 1059-0560
Full text not available from this repository.Abstract
This study aims to understand the dynamics of credit and business cycle interactions at the aggregated and disaggregated (sectors and industries) levels in the Indian context. We explore both parametric and non-parametric time-series approach to date the major turning points and calculate the lead-lag measures. We also test for synchronizing credit and business cycles and finding that there is a procyclicality during the crisis period. However, the analysis at sectoral and industry levels exhibit asymmetry as some sectors exhibit countercyclically. The business cycle precedes the credit cycle at the aggregated and disaggregated levels. The repo rate, broad money, real exchange rate, and industrial output significantly explain India's business-credit dynamics.
| Item Type: | Article |
|---|---|
| Official URL: | https://www.sciencedirect.com/journal/internationa... |
| Additional Information: | © 2021 Elsevier Inc. |
| Divisions: | India Observatory |
| Subjects: | H Social Sciences > HG Finance |
| JEL classification: | E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E30 - General E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations; Cycles |
| Date Deposited: | 31 Oct 2022 13:48 |
| Last Modified: | 17 Apr 2024 07:51 |
| URI: | http://eprints.lse.ac.uk/id/eprint/117216 |
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