Festiæ, Mejra; Repina, Sebastijan - In: Czech Journal of Economics and Finance (Finance a uver) 59 (2009) 6, pp. 554-576
The authors test the hypothesis of procyclicality of banking sector results in the Baltic economies. Their estimates suggest that a slowdown in economic activity is likely to accelerate the growth of the nonperforming loan (NPL) ratio in the Baltics. They also support the hypothesis that a rapid...