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Financial dollarization: the role of banks and interest rates

Basso, Henrique S.; Calvo-Gonzalez, Oscar; Jurgilas, Marius - European Central Bank - 2007

This paper develops a model to explain the determinants of financial dollarization. Expanding on the existing literature, our framework allows interest rate differentials to play a role in explaining financial dollarization. It also accounts for the increasing presence of foreign banks in the...

Persistent link: https://www.econbiz.de/10005344851

The impact of capital flows on domestic investment in transition economies

Mileva, Elitza - European Central Bank - 2008

During the 1990s most transition economies undertook a series of market reforms, including opening their capital accounts. This paper uses static and dynamic panel techniques to assess the effect of FDI, foreign loans and portfolio flows on domestic investment. In this partial adjustment setup,...

Persistent link: https://www.econbiz.de/10005816319

Trade integration of Central and Eastern European countries: lessons from a gravity model

Bussière, Matthieu; Fidrmuc, Jarko; Schnatz, Bernd - European Central Bank - 2005

The aim of the paper is to analyse the factors behind the rapid trade integration of the Central and Eastern European countries with the euro area in the past ten years and to gauge the potential for further integration. We use as benchmark an enhanced gravity model estimated with a large sample...

Persistent link: https://www.econbiz.de/10005530726

Credit growth in Central and Eastern Europe: new (over)shooting stars?

Egert, Balázs; Backé, Peter; Zumer, Tina - European Central Bank - 2006

This paper analyzes the equilibrium level of private credit to GDP in 11 Central and Eastern European countries in order to see whether the high credit growth recently observed in some of these countries led to above equilibrium private credit-to-GDP levels. We use estimation results obtained...

Persistent link: https://www.econbiz.de/10005530828

Who needs credit and who gets credit in Eastern Europe?

Brown, Martin; Ongena, Steven; Popov, Alexander; Yesin, … - European Central Bank - 2012

Based on survey data covering 8,387 firms in 20 countries we compare credit demand and credit supply for firms in Eastern Europe to those for firms in selected Western European countries. We find that firms in Eastern Europe have a higher need for credit than firms in Western Europe, and that a...

Persistent link: https://www.econbiz.de/10010686816

Determinants of entrepreneurial engagement levels in Europe and the US

Grilo, Isabel; Thurik, Roy - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2007

the effect of covariates to differ across the various entrepreneurial engagement levels. Data from two Entrepreneurship …

Persistent link: https://www.econbiz.de/10005247889

Determinants of entrepreneurial engagement levels in Europe and the US

Thurik, Roy; Grilo, Isabel - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2005

Entrepreneurship Flash Eurobarometer surveys (2002 and 2003) containing over 20,000 observations are used. Other than demographic …

Persistent link: https://www.econbiz.de/10005765251

Determinants of entrepreneurship in Europe

Grilo, Isabel; Thurik, Roy - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2004

This paper presents an Eclectic Framework explaining (developments in and determinants of) entrepreneurship … the demand for entrepreneurship on the one hand, with those influencing the supply of entrepreneurs on the other hand. It … entrepreneurship can be shifted. In its empirical part the present paper estimates a multinomial logit using survey data from the 15 EU …

Persistent link: https://www.econbiz.de/10005765270

Latent and actual entrepreneurship in Europe and the US: some recent developments

Thurik, Roy; Grilo, Isabel - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2005

and actual entrepreneurship. Other than demographic variables such as gender, age and education, the set of covariates … this variable in both latent and actual entrepreneurship appears to be even more counterintuitive in 2004 than in 2000: it … has no impact on actual entrepreneurship and is positively related to latent entrepreneurship. Administrative complexities …

Persistent link: https://www.econbiz.de/10005765289