The role of credit in regional divergence: Spanish regions and Eurozone countries

Detalhes bibliográficos
Autor(a) principal: DOW,SHEILA C.
Data de Publicação: 2020
Outros Autores: RODRÍGUEZ-FUENTES,CARLOS J.
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Revista de Economia Política
Texto Completo: http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572020000400712
Resumo: ABSTRACT This paper provides a theoretical account of the role of regional differences in cyclical patterns of credit availability for patterns of regional convergence or divergence. While mainstream theories imply either equalising regional capital flows, or else lower credit availability for peripheral regions due to market imperfections, Post-Keynesian theory of liquidity preference and financial structure imply the scope for greater credit volatility for peripheral regions, especially in downturns, contributing to real economic divergence. This latter account is assessed by means of an empirical analysis of patterns in bank credit over the business cycle among the Spanish regions and Eurozone countries.
id EDITORA_34-1_fb8a1fdbffcaca2d6153cd3d1b64621f
oai_identifier_str oai:scielo:S0101-31572020000400712
network_acronym_str EDITORA_34-1
network_name_str Revista de Economia Política
repository_id_str
spelling The role of credit in regional divergence: Spanish regions and Eurozone countriesCredit procyclicalityliquidity preferencePost-Keynesian regional credit theoryHuman P. MinskyABSTRACT This paper provides a theoretical account of the role of regional differences in cyclical patterns of credit availability for patterns of regional convergence or divergence. While mainstream theories imply either equalising regional capital flows, or else lower credit availability for peripheral regions due to market imperfections, Post-Keynesian theory of liquidity preference and financial structure imply the scope for greater credit volatility for peripheral regions, especially in downturns, contributing to real economic divergence. This latter account is assessed by means of an empirical analysis of patterns in bank credit over the business cycle among the Spanish regions and Eurozone countries.Centro de Economia Política2020-12-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572020000400712Brazilian Journal of Political Economy v.40 n.4 2020reponame:Revista de Economia Políticainstname:EDITORA 34instacron:EDITORA_3410.1590/0101-31572020-3051info:eu-repo/semantics/openAccessDOW,SHEILA C.RODRÍGUEZ-FUENTES,CARLOS J.eng2020-10-13T00:00:00Zoai:scielo:S0101-31572020000400712Revistahttps://centrodeeconomiapolitica.org.br/repojs/index.php/journalONGhttps://centrodeeconomiapolitica.org.br/repojs/index.php/journal/oai||cecilia.heise@bjpe.org.br1809-45380101-3157opendoar:2020-10-13T00:00Revista de Economia Política - EDITORA 34false
dc.title.none.fl_str_mv The role of credit in regional divergence: Spanish regions and Eurozone countries
title The role of credit in regional divergence: Spanish regions and Eurozone countries
spellingShingle The role of credit in regional divergence: Spanish regions and Eurozone countries
DOW,SHEILA C.
Credit procyclicality
liquidity preference
Post-Keynesian regional credit theory
Human P. Minsky
title_short The role of credit in regional divergence: Spanish regions and Eurozone countries
title_full The role of credit in regional divergence: Spanish regions and Eurozone countries
title_fullStr The role of credit in regional divergence: Spanish regions and Eurozone countries
title_full_unstemmed The role of credit in regional divergence: Spanish regions and Eurozone countries
title_sort The role of credit in regional divergence: Spanish regions and Eurozone countries
author DOW,SHEILA C.
author_facet DOW,SHEILA C.
RODRÍGUEZ-FUENTES,CARLOS J.
author_role author
author2 RODRÍGUEZ-FUENTES,CARLOS J.
author2_role author
dc.contributor.author.fl_str_mv DOW,SHEILA C.
RODRÍGUEZ-FUENTES,CARLOS J.
dc.subject.por.fl_str_mv Credit procyclicality
liquidity preference
Post-Keynesian regional credit theory
Human P. Minsky
topic Credit procyclicality
liquidity preference
Post-Keynesian regional credit theory
Human P. Minsky
description ABSTRACT This paper provides a theoretical account of the role of regional differences in cyclical patterns of credit availability for patterns of regional convergence or divergence. While mainstream theories imply either equalising regional capital flows, or else lower credit availability for peripheral regions due to market imperfections, Post-Keynesian theory of liquidity preference and financial structure imply the scope for greater credit volatility for peripheral regions, especially in downturns, contributing to real economic divergence. This latter account is assessed by means of an empirical analysis of patterns in bank credit over the business cycle among the Spanish regions and Eurozone countries.
publishDate 2020
dc.date.none.fl_str_mv 2020-12-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572020000400712
url http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572020000400712
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 10.1590/0101-31572020-3051
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv text/html
dc.publisher.none.fl_str_mv Centro de Economia Política
publisher.none.fl_str_mv Centro de Economia Política
dc.source.none.fl_str_mv Brazilian Journal of Political Economy v.40 n.4 2020
reponame:Revista de Economia Política
instname:EDITORA 34
instacron:EDITORA_34
instname_str EDITORA 34
instacron_str EDITORA_34
institution EDITORA_34
reponame_str Revista de Economia Política
collection Revista de Economia Política
repository.name.fl_str_mv Revista de Economia Política - EDITORA 34
repository.mail.fl_str_mv ||cecilia.heise@bjpe.org.br
_version_ 1754122482514657280

Registros relacionados