This paper attempts to empirically assess the impact of the ECB's quantitative easing policy on capital flows in the countries of the Central and South Eastern region. Given the tight trade and financial linkages of the region with the euro area, one should expect that the buoyant liquidity...

The latest global financial and economic crisis reignited the debate on the costs and benefits of foreign bank presence. While discussions on the optimal financing model of foreign owned banks are ongoing, the consensus on the benefits of foreign banks presence is not a matter of dispute. Given...