01870cas a2200253 a 4500 AALejournalIMF000141 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451841831 1018-5941 BD-DhAAL BD-DhAAL Kumar, Manmohan. Money Demand, Bank Credit, and Economic Performance in Former Socialist Economies / Manmohan Kumar, Guillermo Calvo. Washington, D.C. : International Monetary Fund, 1994. 1 online resource (48 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 This paper examines factors determining the allocation of bank credit to the enterprise sector, and the implications of this allocation for aggregate supply and macro-economic performance, in the former socialist economies. It first develops a model to explain how changes in demand for money by the household sector directly influence the availability of working capital, which in turn determines aggregate output and employment. It then examines factors influencing the allocation of bank credit between enterprises and other borrowers, in particular the government. Finally, the paper discusses relative merits of bank finance and equity capital in financing medium- and long-term investment, and constraints on the development of efficient equity markets. Mode of access: Internet Calvo, Guillermo. IMF Working Papers; Working Paper ; No. 1994/003 Full text available on IMF http://elibrary.imf.org/view/journals/001/1994/003/001.1994.issue-003-en.xml IMF e-Library