Credit Market as a “Mirror” of the Economic System: A Disequilibrium Approach

We investigate through an econometric approach the credit market and the factors that interact with it. Our investigation tries to put into discussion the main macroeconomic determinants of credit market in Romania. Our approach is chiefly centered around essential macroeconomic vari-ables related to industrial output, interest in banking industry, as well as to stock market aggregate indicators. This paper’s results show that disequilibrium models can be used to properly model and describe, in the medium and short-run, the behavior of the credit market as a whole, by taking necessary precautions.