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Credit Market and Economic Growth of Russia: Modeling Mutual Influence

Author

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  • V.A. Byvshev
  • N.E. Brovkina

Abstract

An econometric model of the mutual influence of the credit market and main macroeconomic indicators of the Russian economy is discussed. The obtained results show that the credit market has an obvious positive impact on the economic growth. Applying the model also made it possible to estimate the impact of gross domestic product (GDP) growth on the credit market. The results have shown that GDP is a real driver of the credit market growth and its impact on the credit market considerably exceeds the influence of the existing credit market on the economic growth.

Suggested Citation

  • V.A. Byvshev & N.E. Brovkina, 2018. "Credit Market and Economic Growth of Russia: Modeling Mutual Influence," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 622-636.
    • Handle: RePEc:ers:journl:v:xxi:y:2018:i:4:p:622-636
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    References listed on IDEAS

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    More about this item

    Keywords

    Credit market; nominal and real gross domestic product (GDP); rate of real GDP growth; loans to non-financial organizations; loans to households; nominal and actual level of loans; rate of loans growth; Vector AutoRegression (VAR).;
    All these keywords.

    JEL classification:

    • G0 - Financial Economics - - General
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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