Har en ”Credit Crunch” Förekommit på den Svenska Kreditmarknaden? -En studie av efterfråge- och utbudsöverskott sedan 1987

Purpose: The purpose of this thesis is to examine whether some periods of declines in Swedish real credit can be explained by a credit crunch. Is it further possible, with these results, to do any conclusions about the banks behaviour in the on going financial crisis that has shadowed the country since 2007/2008? Method: A credit crunch is here defined as a period of supply-side restrictions on loans which doesn’t reflect the ongoing interest rates. By estimating a supply and demand function with a disequilibrium model the excess demand- and supply for credit due to different periods can be calculated. Conclusion: A credit crunch has been present during a period after the banking crisis of early 1990’s. How ever were the years throughout the crisis mostly formed of an excess supply. The last two years of the present financial crisis have only shown an excess of supply and the declining growth rate of real credit can so far be explained by a smaller demand side. Since we’re still in the middle of this financial crisis it is hard to say anything about future real credit levels or plausible credit rationing