Money, Credit and Investment in the UK Corporate Sector

Bank of England Monetary Analysis Working Paper No. 100

41 Pages Posted: 15 Dec 1999

See all articles by Andrew Brigden

Andrew Brigden

Bank of England

Paul Mizen

University of Nottingham; Bank of England; Centre for Economic Policy Research (CEPR)

Date Written: September 1999

Abstract

This paper investigates the interactions between investment, money holding and bank borrowing by private non-financial corporations (PNFCs). Long-run relationships are identified for investment, money and borrowing, and the dynamics indicate the existence of feedbacks from money and credit disequilibria onto investment. The results are considered to be consistent with the existence of a credit channel.

JEL Classification: G21, G32

Suggested Citation

Brigden, Andrew and Mizen, Paul, Money, Credit and Investment in the UK Corporate Sector (September 1999). Bank of England Monetary Analysis Working Paper No. 100, Available at SSRN: https://ssrn.com/abstract=186141 or http://dx.doi.org/10.2139/ssrn.186141

Andrew Brigden (Contact Author)

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Paul Mizen

University of Nottingham ( email )

University Park
Nottingham, NG8 1BB
United Kingdom
+44 115 951 5479 (Phone)
+44 115 951 4159 (Fax)

Bank of England

Threadneedle Street
London, EC2R 8AH
United Kingdom

Centre for Economic Policy Research (CEPR)

London
United Kingdom

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