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The Role of Credit Markets in a Transition Economy with Incomplete Public Information

Roldos, Jorge - 1996

In this paper we explore some of the informational problems that constrain the development of credit markets in … the average return to capital. Under asymmetric information, credit would go to activities that can provide enough co …-finance. Credit markets may fail to develop for a while if there is not enough individual wealth to complement credit. Once they …

Persistent link: https://www.econbiz.de/10014395992

Resolving China's corporate debt problem

Maliszewski, Wojciech; Arslanalp, Serkan; Caparusso, John; … - 2016

Corporate credit growth in China has been excessive in recent years. This credit boom is related to the large increase …

Persistent link: https://www.econbiz.de/10011715497

Banking Structure and Credit Growth in Central and Eastern European Countries

Aydin, Burcu - 2008

are experiencing credit booms. This paper analyzes the role of foreign-owned banks in these credit booms. The results show …

Persistent link: https://www.econbiz.de/10014401675

Too Much of a Good Thing? Credit Booms in Transition Economies : The Cases of Bulgaria, Romania, and Ukraine

Duenwald, Christoph - 2005

Rapid credit growth in Bulgaria, Romania, and Ukraine has been driven by successful macroeconomic stabilization, robust … Ukraine. Policy responses have included attempts to both moderate credit growth and offset its impact on domestic demand, with …

Persistent link: https://www.econbiz.de/10014400734

Taking down the wall : transition and inequality

Cevik, Serhan; Correa-Caro, Carolina - 2020

This paper investigates the main determinants of income inequality in transition countries during the period 1990-2018. To this end, we address a major methodological challenge that lies at the core of the cross-country literature on income inequality: the potential endogeneity of income growth,...

Persistent link: https://www.econbiz.de/10012177606

Monetary Policy in Central and Eastern Europe : Lessons After Half a Decade of Transition

Begg, David K. H. - 1996

The paper uses data from transition economies in Central and Eastern Europe to assess four questions: (i) Did the standard blueprint for stabilization work, and was it implemented? (ii) To what extent was normal macroeconomics impeded by solvency problems in banks, and how successful have been...

Persistent link: https://www.econbiz.de/10014398002

Equilibrium Exchange Rates in Transition Economies

Halpern, Lionel - 1996

A stylized fact of the transition process is an early profound exchange rate depreciation followed by continuing real appreciation. Absent historical reference points, it is difficult to judge whether the real appreciation is threatening competitiveness. This paper interprets the stylized facts...

Persistent link: https://www.econbiz.de/10014398011

Fiscal Constraintson Market-Oriented Reform in a Socialist Economy

Dinopoulos, Elias - 1991

This paper develops a simple two-sector model of a socialist economy, in which government revenues required for servicing external debt are obtained from taxation of the socialized sector and from import taxes. Wages and employment in the socialized sector are the outcome of Nash bargaining...

Persistent link: https://www.econbiz.de/10014398093

Index Number Biases During Price Liberalization

Osband, Kent - 1991

When a formerly centrally-planned economy frees prices and allows or compels producers to respond to market signals, conventional measures tend to severely overstate short–run output decline and inflation. In part the overstatement stems from neglect of private sector activity, or from belated...

Persistent link: https://www.econbiz.de/10014398096

Poland : The Social Safety Net During the Transition

Maret, Xavier - 1993

This paper argues that the brunt of the reform-induced increase in Polish social expenditures has been borne by social insurance arrangements (mainly pensions and unemployment compensation) rather than by social assistance schemes targeted to the poor or more temporary social safety net schemes....

Persistent link: https://www.econbiz.de/10014398129

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