ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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West Asia- Massacre In Beirut

factor influencing the fall in interest rates has been the decline in demand for credit and the reduction in supply of credit to borrowers deeply in debt both in the US domestic market and in the Eurodollar market. In the domestic market, the gradual working off of inventories has reduced credit demand. In the Eurodollar market, the sharp decline in bank lending in the first half of 1982 after record lending in 1981, suggests important changes. Lending in 1981 had grown not because of growth in trade of current account inbalances, but because of capital movement to support ailing giants such as AEG-Teletunken and International Harvester or to support relocation of industry, mergers and acquisitions of financial interests. Apparently, capital movements on these accounts have declined.

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