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There is a long tradition in literature that banks can play a special role in the propagation of economic fluctuations. Theory suggests many channels through which financial system affects, and is affected by, economic growth. One of the most important empirical studies on this topic shows a...
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We investigate the role of leasing in the lending boom in Central and South Eastern Europe (CEE and SEE). We contribute … by (1) providing a full picture of the financing situation in Eastern Europe, where leasing plays a more important role … leasing. We find that leasing and credit positively contributed to economic growth. However, leasing and credit are …
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Credit risk assessment is a crucial part of macroprudential analysis, with the aggregate nonperforming loan (NPL) ratio serving as a proxy for the economy-wide probability of default of the banking sector's overall loan exposure. Therefore, the factors driving the NPL ratio deserve a lot of...
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This paper analyses real income convergence in central, eastern and south-eastern Europe (CESEE) to the most advanced EU economies between 2000 and 2016. The relevance of this topic stems both from the far-reaching implications of real income convergence for economic welfare and the importance...
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