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Rapid Credit Growth In Central And Eastern Europe
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Book Synopsis Rapid Credit Growth in Central and Eastern Europe by : Charles Enoch
Download or read book Rapid Credit Growth in Central and Eastern Europe written by Charles Enoch and published by Springer. This book was released on 2007-02-14 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book represents the latest developments and policy debate on the rapid growth of banking sector credit to the private sector, which continues to occupy the minds of academics and policymakers alike in many Central and Eastern European countries. The contributions discuss ways to assess and respond to excessive credit growth.
Book Synopsis Rapid Credit Growth in Central and Eastern Europe by : Charles Enoch
Download or read book Rapid Credit Growth in Central and Eastern Europe written by Charles Enoch and published by . This book was released on 2007 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume represents the latest developments and policy debate on the rapid growth of banking sector credit to the private sector, which continues to occupy the minds of academics and policymakers alike in many Central and Eastern European (CEE) countries. The papers, presented by the representatives of international organizations and monetary and supervisory authorities of a number of Western and CEE countries, provide discussions on how to assess and respond to excessive credit growth. Case studies represent the challenges faced by policymakers in dealing with rapid credit growth, providing useful lessons for other countries experiencing a similar phenomenon.--Publisher's description.
Book Synopsis Early Birds, Late Risers, and Sleeping Beauties by : Ivanna Vladkova Hollar
Download or read book Early Birds, Late Risers, and Sleeping Beauties written by Ivanna Vladkova Hollar and published by International Monetary Fund. This book was released on 2003-11-01 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following a period of privatization and restructuring, commercial banks in Central and Eastern Europe and, more recently, in the Balkans have rapidly expanded their lending to the private sector. This paper describes the causes of this expansion, assesses future trends, and evaluates its policy implications. It concludes that bank credit to the private sector is likely to continue rising faster than GDP in the next few years throughout the region, picking up also in countries where so far it has been stalled. Although this growth should be regarded as a structural and positive development, policymakers will have to evaluate carefully its implications for macroeconomic developments and financial stability.
Book Synopsis Credit Growth in Emerging Europe by : Sophie Sirtaine
Download or read book Credit Growth in Emerging Europe written by Sophie Sirtaine and published by World Bank Publications. This book was released on 2007 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: High credit growth in Emerging Europe, generally considered a sign of catching-up with the "old" Europe, has begun receiving considerable attention among investors and policymakers alike. Given heightened global risks and the demands under the European Union accession process, the need to better understand this high credit growth's drivers, riskiness, and the possible macroeconomic and financial stability consequences is strong. The authors adopt a holistic approach in reviewing the rapid credit growth experienced in the region, examining macroeconomic, financial sector, corporate sector, and asset market consequences and possible vulnerabilities. They consider three possible scenarios-a catching-up with older European countries, a soft landing as experienced by Portugal in the early 2000s, and a hard landing as experienced by Asia in 1997.
Book Synopsis Assessing and Managing Rapid Credit Growth and the Role of Supervisory and Prudential Policies by : Inci Ötker
Download or read book Assessing and Managing Rapid Credit Growth and the Role of Supervisory and Prudential Policies written by Inci Ötker and published by INTERNATIONAL MONETARY FUND. This book was released on 2005-07-01 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews trends in bank lending to the private sector, with a particular focus on Central and Eastern European countries, and finds that rapid growth of private sector credit continues to be a key challenge for most of these countries. The paper discusses possible implications for economic and financial stability and the policy options available to counter and reduce these risks. It argues that the authorities will need to focus on the implications for both the macro economy and the financial system and, depending on their assessment, may need a comprehensive policy response comprising a mix of macro and prudential policies. In particular where there are limitations to the effective use of monetary and fiscal measures, supervisory and prudential policy responses will have a key role in addressing financial stability concerns.
Book Synopsis Are Weak Banks Leading Credit Booms? Evidence from Emerging Europe by : Deniz Igan
Download or read book Are Weak Banks Leading Credit Booms? Evidence from Emerging Europe written by Deniz Igan and published by INTERNATIONAL MONETARY FUND. This book was released on 2008-09-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the behavior of bank soundness indicators during episodes of brisk loan growth, using bank-level data for central and eastern Europe and controlling for the feedback effect of credit growth on bank soundness. No evidence is found that rapid loan expansion has weakened banks during the last decade, but over time weaker banks seem to have started to expand at least as fast as, and in some markets faster than, stronger banks. These findings suggest that during credit booms supervisors need to carefully monitor the soundness of rapidly expanding banks and stand ready to take action to limit the expansion of weak banks.
Book Synopsis Early Birds, Late Risers, and Sleeping Beauties by : Carlo Cottarelli
Download or read book Early Birds, Late Risers, and Sleeping Beauties written by Carlo Cottarelli and published by . This book was released on 2006 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following a period of privatization and restructuring, commercial banks in Central and Eastern Europe and, more recently, in the Balkans have rapidly expanded their lending to the private sector. This paper describes the causes of this expansion, assesses future trends, and evaluates its policy implications. It concludes that bank credit to the private sector is likely to continue rising faster than GDP in the next few years throughout the region, picking up also in countries where so far it has been stalled. Although this growth should be regarded as a structural and positive development, policymakers will have to evaluate carefully its implications for macroeconomic developments and financial stability.
Book Synopsis Assessing and Managing Rapid Credit Growth and the Role of Supervisory and Prudential Policies by :
Download or read book Assessing and Managing Rapid Credit Growth and the Role of Supervisory and Prudential Policies written by and published by . This book was released on 2005 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Development, Integration and Stability by : Klaus Liebscher
Download or read book Financial Development, Integration and Stability written by Klaus Liebscher and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial industries in central, eastern and south-eastern Europe have undergone dramatic changes over the past decade. Foreign direct investment contributed to the development of market-oriented banking and financial systems able to support the rapid pace of economic growth in these countries. Policymakers, academics and private sector analysts have contributed to this volume with their stimulating insights on a broad range of issues, from recent credit booms to the cross-border integration of banking and capital markets. Anyone who wants to understand how finance, growth and financial stability interact in transition economies should read this book. Mario Draghi, Governor of the Banca d Italia and Chairman of the Financial Stability Forum This book highlights the achievements and challenges of the ongoing process of financial integration in Europe. The financial integration of Europe is both welcomed as an economic driving force and watched with concern as a source of potential stability. After all, changing financial, regulatory and corporate ownership structures are fuelling competition, capital mobility and financial intermediation, but at the same time creating new systemic risks. With a special focus on Central, Eastern and South-Eastern Europe, the contributors to this book explore a wide spectrum of underlying issues, including the finance-growth nexus, credit boom patterns, the implications of foreign bank entry modes, lessons learned from old EU member states and commercial bank strategies. Authoritative views from central bank officials and policymakers are complemented with a special focus on empirical and econometric evidence from academia as well as practical insights from key financial market players. This unique collection will be of great interest to economists and experts in the fields of financial markets and European integration from central, commercial and investment banks, governments, international organizations, universities and research institutes.
Book Synopsis Beyond the Crisis by : Mr.Ruben Atoyan
Download or read book Beyond the Crisis written by Mr.Ruben Atoyan and published by International Monetary Fund. This book was released on 2010-04-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focusing on the nexus between economic growth and buildup of external vulnerabilities, this paper provides a systematic account of different growth strategies followed in Central and Eastern Europe in 2000-08 and then uses this growth diagnostics to derive implications for the post-crisis recovery. The main findings point to three policy lessons for improving growth sustainability. First, greater reliance on tradable sectors should be the cornerstone of the future growth model. Second, enhancing domestic sources of bank credit funding would contribute to mitigation of external vulnerabilities and make domestic financial system more resilient to global financial shocks. Third, prudential and macroeconomic policies will have to be more proactive in managing capital inflows, including funneling these inflows into investment in the export-oriented industries.
Book Synopsis Credit Growth in Central, Eastern, and South-Eastern Europe by : Malgorzata Iwanicz-Drozdowska
Download or read book Credit Growth in Central, Eastern, and South-Eastern Europe written by Malgorzata Iwanicz-Drozdowska and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we investigate the credit growth of foreign-owned banks in Central, Eastern, and South-Eastern Europe from 2000 to 2014. We intend to show whether foreign capital in the banking sector should be treated as a monolith, as it currently is in the literature. To this end, we analyse credit growth based on the status of the parent company (global systemically important banks, or G-SIBs, vs. non-GSIBs) and European Union membership of the countries of the subsidiaries. The analyses are carried out on a panel of banks with the use of the panel corrected standard errors methodology. Additionally, we differentiate between the pre-crisis and crisis/post-crisis periods to identify whether the policy of parents changed after the outbreak of the crisis. We find important differences in the determinants of the credit growth of subsidiaries, indicating that foreign capital in the banking sector should not be treated as a monolith.
Book Synopsis Financial Markets in Central and Eastern Europe by : Morten Balling
Download or read book Financial Markets in Central and Eastern Europe written by Morten Balling and published by Routledge. This book was released on 2004-08-02 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book charts the process of financial market reform in Central and Eastern Europe. Topics discussed will include the implications of future EU membership, and the strategies pursued by the World Bank and International Monetary Fund.
Book Synopsis Central Banking in Eastern Europe by : Barry Harrison
Download or read book Central Banking in Eastern Europe written by Barry Harrison and published by Routledge. This book was released on 2003-09-02 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, written by a multinational team of experts, explores the changing face of central banking in Eastern Europe in the light of modern macroeconomic thinking, providing important and novel insights into the design of monetary policy institutions. With its authoritative content, this book will interest students and academics involved with money and banking, macroeconomics and Eastern European studies. Professionals working for financial institutions will also find plenty that will appeal within these pages.
Book Synopsis The Impact of the Global Crisison South-Eastern Europe by : Mr.Emidio Cocozza
Download or read book The Impact of the Global Crisison South-Eastern Europe written by Mr.Emidio Cocozza and published by International Monetary Fund. This book was released on 2011-12-01 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the impact of the global crisis on six South-Eastern European countries. The main objective is to compare macro-financial conditions and policies in the run-up to the crisis as well as to compare the policy responses to it, so as to highlight, inter alia, possible country-specific constraints. While sharing a common pre-crisis pattern of strong capital inflows and robust growth, a key difference in the conduct of macroeconomicpolicies is that some countries adopted expansionary (and procyclical) fiscal policies. These moves exacerbated external vulnerabilities and compromised the ability to discretionarily use the fiscal instrument in acountercyclical fashion.
Book Synopsis Rapid Credit Growth in Azerbaijan: Convergence or Boom? Macroeconomic Implications of Fast Credit Expansion by : Rashad Karimov
Download or read book Rapid Credit Growth in Azerbaijan: Convergence or Boom? Macroeconomic Implications of Fast Credit Expansion written by Rashad Karimov and published by GRIN Verlag. This book was released on 2010-08-10 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2010 in the subject Economics - Macro-economics, general, grade: A-, Central European University Budapest, language: English, abstract: This thesis investigates a credit boom in Azerbaijan in 2008 year. I also employ VECM to my model to figure out long-run and short-run dynamics and equilibrium level of credit. This paper also studies macroeconomic implications of high credit expansion. The study shows that credit boom creates non-trivial risk for macro aggregates and is followed by financial crisis in the economy.
Book Synopsis The Credit Boom in the EU New Member States by : International Monetary Fund
Download or read book The Credit Boom in the EU New Member States written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-05-01 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past decade, most of the EU New Member States experienced a severe credit-boom bust cycle. This paper argues that the credit boom-bust cycle was to a large extent the result of factors external to the region (“bad luck”). Rapid credit growth followed from a high liquidity in global markets and the particular attractiveness of “new Europe” for capital flows, while the end of the credit cycle was brought about by a global crisis. However, the fact that some countries managed to avoid most of the excesses, including asset price bubbles and foreign exchange lending, suggests that policies and policy failures (“bad policies”)—in particular overly expansionary macroeconomic settings and excessively optimistic views on prudential risks—also have played a critical role.
Book Synopsis Central and Eastern Europe by : Georg Winckler
Download or read book Central and Eastern Europe written by Georg Winckler and published by International Monetary Fund. This book was released on 1992-09-15 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: A seminar on the topic Central and Eastern Europe: Roads to Growth held at Baden, Austria in April 1991, brought together academic experts, government officials and representatives of private and international organizations. This publication details the subjects covered in the seminar.
