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- W2164285435 abstract "When credit is created, it appears to help those who get it. But this conclusion does not follow, for an increase in credit also causes inflation. This reduces the value of the existing stock of money (or working capital). Thus the process of credit creation also imposes costs. At the same time that it replenishes the working capital of enterprises, it generates further inflation – which erodes that working capital. From the point of view of the economy as a whole, the process is thus largely self-defeating.KeywordsInterest RateInflation RateCommercial BankBanking SectorMoney GrowthThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves." @default.
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- W2164285435 date "1999-01-01" @default.
- W2164285435 modified "2023-09-24" @default.
- W2164285435 title "Who Gains and Who Loses from Russian Credit Expansion? (1994)" @default.
- W2164285435 doi "https://doi.org/10.1057/9780230375284_24" @default.
- W2164285435 hasPublicationYear "1999" @default.
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