01714cas a2200253 a 4500 AALejournalIMF000099 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451848472 1018-5941 BD-DhAAL BD-DhAAL Calvo, Guillermo. Output Collapse in Eastern Europe : The Role of Credit / Guillermo Calvo, Fabrizio Coricelli. Washington, D.C. : International Monetary Fund, 1992. 1 online resource (30 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Real bank credit in Eastern European countries after their recent stabilization programs is shown to have fallen sharply, except in the case of Hungary. The meaning of the fall is discussed under the present value and liquidity perspectives. Moreover, it is shown that the hypothesis that output contraction may be partly due to credit contraction cannot be ruled out. The hypothesis is tested on a sample of 85 branches of industry in Poland. The rationale for expecting a connection between credit and output and policy options to attenuate the liquidity crunch in post-socialist economies is also subject to analysis. Mode of access: Internet Coricelli, Fabrizio. IMF Working Papers; Working Paper ; No. 1992/064 Full text available on IMF http://elibrary.imf.org/view/journals/001/1992/064/001.1992.issue-064-en.xml IMF e-Library