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That is not necessarily the case when anticipated capital growth is not held constant.
Figure 2 describes the overall response to questions about entrepreneurs' anticipated capital mobilization and expected revenue (all in logarithmic scale).
Finally, we estimate two stage least squares (TSLS) models of credit growth on current and (proxies of) anticipated capital growth.
A possible explanation for the discrepancy between the results is that we hold constant anticipated capital drops by controlling for the change in non-performing loans.
With Wall Street no longer viewed as a one-way bet, people will begin to salt away more money in more traditional ways rather than relying on anticipated capital gains for retirement, college tuition or the purchase of a home.
But as large producers report their anticipated capital expenditures for this year, with some even disclosing decreases, many analysts and executives say the industry's muted reaction to this price spike is highly unusual.
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Orders, which anticipate capital spending by about a half year, fell 1.6percentt in September compared with those in August.
However, such losses anticipate capital needs in the future if the increase in the share of NPLs is persistent.
In either case, banks anticipate future capital needs and thus target a lower ratio of business lending to capital.
Investors may be anticipating fresh capital or additional financing.
Mr. Kupsovsky anticipates the capital's Pride festivities will attract thousands.
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