Rapid Credit Growth In Central And Eastern Europe
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Rapid Credit Growth In Central And Eastern Europe
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Author : Charles Enoch
language : en
Publisher: Springer
Release Date : 2007-02-14
Rapid Credit Growth In Central And Eastern Europe written by Charles Enoch and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-02-14 with Business & Economics categories.
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.
Rapid Credit Growth In Central And Eastern Europe
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Author : Charles Enoch
language : en
Publisher:
Release Date : 2007
Rapid Credit Growth In Central And Eastern Europe written by Charles Enoch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Credit control categories.
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.
Early Birds Late Risers And Sleeping Beauties
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Author : Ivanna Vladkova Hollar
language : en
Publisher: International Monetary Fund
Release Date : 2003-11-01
Early Birds Late Risers And Sleeping Beauties written by Ivanna Vladkova Hollar and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-11-01 with Business & Economics categories.
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.
Credit Growth In Emerging Europe
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Author : Sophie Sirtaine
language : en
Publisher: World Bank Publications
Release Date : 2007
Credit Growth In Emerging Europe written by Sophie Sirtaine and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Access to Finance categories.
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.
Assessing And Managing Rapid Credit Growth And The Role Of Supervisory And Prudential Policies
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Author : Inci Ötker
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2005-07-01
Assessing And Managing Rapid Credit Growth And The Role Of Supervisory And Prudential Policies written by Inci Ötker and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-07-01 with categories.
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.
Are Weak Banks Leading Credit Booms Evidence From Emerging Europe
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Author : Deniz Igan
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2008-09-01
Are Weak Banks Leading Credit Booms Evidence From Emerging Europe written by Deniz Igan and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-09-01 with categories.
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.
Banking Structure And Credit Growth In Central And Eastern European Countries
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Author : Burcu Aydin
language : en
Publisher: International Monetary Fund
Release Date : 2008-09
Banking Structure And Credit Growth In Central And Eastern European Countries written by Burcu Aydin and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-09 with Business & Economics categories.
This paper presents a modeling framework that delivers joint forecasts of indicators of systemic real risk and systemic financial risk, as well as stress-tests of these indicators as impulse responses to structural shocks identified by standard macroeconomic and banking theory. This framework is implemented using large sets of quarterly time series of indicators of financial and real activity for the G-7 economies for the 1980Q1-2009Q3 period. We obtain two main results. First, there is evidence of out-of sample forecasting power for tail risk realizations of real activity for several countries, suggesting the usefulness of the model as a risk monitoring tool. Second, in all countries aggregate demand shocks are the main drivers of the real cycle, and bank credit demand shocks are the main drivers of the bank lending cycle. These results challenge the common wisdom that constraints in the aggregate supply of credit have been a key driver of the sharp downturn in real activity experienced by the G-7 economies in 2008Q4- 2009Q1.
Early Birds Late Risers And Sleeping Beauties
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Author : Carlo Cottarelli
language : en
Publisher:
Release Date : 2006
Early Birds Late Risers And Sleeping Beauties written by Carlo Cottarelli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
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.
Credit Growth And Bank Soundness
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Author : Ms.Deniz Igan
language : en
Publisher: International Monetary Fund
Release Date : 2011-12-01
Credit Growth And Bank Soundness written by Ms.Deniz Igan and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-01 with Business & Economics categories.
We examine the risks to bank soundness associated with credit booms in a large set of countries. Using bank-level data in 90 countries between 1995 and 2005, we analyze the relationship between credit growth and bank soundness taking into account the potential two-way causality. We find that, while sounder banks tend to grow faster at moderate-growth periods, credit growth becomes less dependent on soundness during booms. These findings shed some light on why credit booms are often associated with financial crises.
Financial Development Integration And Stability
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Author : Klaus Liebscher
language : en
Publisher: Edward Elgar Publishing
Release Date : 2007-01-01
Financial Development Integration And Stability written by Klaus Liebscher and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-01 with Political Science categories.
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.