Please use this identifier to cite or link to this item:
https://www.um.edu.mt/library/oar/handle/123456789/33245
Title: | Estimating a credit gap for non-financial corporations in Malta |
Authors: | Micallef, Brian |
Keywords: | Corporations -- Credit -- Malta Econometric models -- Malta Economic policy -- Statistics |
Issue Date: | 2015 |
Publisher: | Central Bank of Malta |
Citation: | Micallef, B. (2015). Estimating a credit gap for non-financial corporations in Malta. Central Bank of Malta WP/04/2015. |
Abstract: | This paper documents two approaches that are used to estimate a credit gap, defined as the difference between actual developments in credit to non-financial corporations (NFCs) in Malta and a hypothetical path that would have been realised had the past historical relationships over the period 1995-2011 were to be maintained over the period 2012-2014. Both methods suggest that a credit gap emerged in 2012, which widened significantly in 2013 and 2014. As at 2014Q3, the credit gap is estimated between €680 and €830 million. In addition, the two approaches indicate that the credit gap will widen further over 2015-2016. Conditional on the projected path of NFC credit in the economic forecasts published by the Central Bank of Malta in December 2014, the credit gap is expected to widen to around €840 and €1,150 million by end-2016. |
URI: | https://www.um.edu.mt/library/oar//handle/123456789/33245 |
Appears in Collections: | 2015 |
Files in This Item:
File | Description | Size | Format | |
---|---|---|---|---|
Estimating_a_credit_gap_for_non-financial_corporations_in_Malta_2015.pdf | 766.6 kB | Adobe PDF | View/Open |
Items in OAR@UM are protected by copyright, with all rights reserved, unless otherwise indicated.