Czech paper examines strength of link between financial and real sectors

Financial sector cycles translate through to the ‘real' sector, paper shows


Pro-cyclicality in the finance sector also makes itself felt in the ‘real' sector in small open economies such as the Czech Republic, according to a working paper from the Czech National Bank.

In Evaluating the links between the financial and real sectors in a small open economy: the case of the Czech Republic, Tomáš Konečný and Oxana Babecká Kucharčuková combine information on aggregate credit and non-performing loans (NPLs) to find that pro-cyclicality of the financial sector matters for the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account