What does the algorithm calculate?
Note that $x=i!$. Now it's easy to see $y=(i+1)!$ and $z=(2i)!$. So $c=\frac{(2i)!}{i!(i+1)!}$, which is the $i$th Catalan number.

P.S. Your formula is wrong. The condition of the inner loop is $j=i+m\le2i$, so $m$ is from $1$ to $i$ instead of $2i-1$ or something.