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The past decade following the global economic crisis (2008-09) will be certainly marked as the era of historically low interest rates, while the current juncture of COVID-19 pandemic outbreak raises the occasion of another extended period of very low interest rates. Yields have been falling...
Persistent link: https://www.econbiz.de/10012301367
What explains the post-crisis slowdown in bank credit to private sector in the South-East European economies? We try to answer this question, by comparing the actual credit growth to the fundamental and equilibrium growths. The fundamental growth is defined as the growth justified by the...
Persistent link: https://www.econbiz.de/10011623469
In this paper, we empirically assess the effects of the decomposed private sector credit on the economic growth and real effective exchange rate (REER) dynamics, for eight SEE countries. We construct dataset for Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Romania, Serbia and...
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