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Measuring credit structure impact on economic growth in Croatia using (VECM) 1990-2018

Škare, Marinko; Sinković, Dean; Porada-Rochoń, … - In: Journal of business economics and management 20 (2019) 2, pp. 294-310

total credit share in the GDP. Previous empirical studies show to be sensitive to the choice of the finance proxy indicator …. Total credit share in the GDP appears biased in empirical modeling. Credit structure (loans to firms and households) prove … to be more robust when used in the modeling. Credit structure reveals a different impact on economic growth showing …

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