Développement du crédit à la consommation et économie réelle

摘要

Consumer credit development and real economy The amplitude of the recent rise in consumption loans renders the evaluation of their impact on household crucial. Accelerations of credit outstanding had already been observed. But a rise of such a magnitude in the variations, which are the net additionnal household resources, has never occured. The chronology of specific credit ceiling tends to show that, up until now, households have been constrained in their demand for loans. Therefore they have borrowed as much as banks have been disposed, to lend. Thus, households which have seen their resources grow more rapidly than their income, have increased their consumption. This fact has resulted in a lowering in the saving ratio. The slow down in the credit outstanding, observed in 1987, provoked a narro-