This paper attempts to describe the methods employed by the Croatian government in order to acquire the foreign currency which was essential for strategic imports during the period 1991-1995. The starting point for this was the fact that foreign currency was in the hands of Croatian households,...

Dollarization-the use of foreign currencies as a medium of exchange, store of value, or unit of account-is a notable feature of financial development under macroeconomically fragile conditions. It has emerged as a key factor explaining vulnerabilities and currency crises, which have long been...

While capital flows to emerging markets bring numerous benefits, they are also known to create macroeconomic imbalances (economic overheating, currency overvaluation) and increase financial vulnerabilities (domestic credit growth, bank leverage, foreign currency-denominated lending). But are all...

This thesis deals with demand and supply determinants of loan contract terms in small business lending. Chapter 2 presents results on loan maturity and is based on a cross-sectional dataset of German small business loans. I find a very robust positive and monotonic relation between risk and...

A high inflation rate is the main obstacle prohibiting euro lead into the state, that‘s why the inflation theme is the urgent one. We analyzed the inflation not only from the economic perspective, but from the legal side too. The changes of property forms, legal tends, extent of inflation,...

I develop an asymmetric two-country incomplete markets model in which economies trade final consumption goods and inputs. The purchases of imported inputs from the firms of one of the economies (the emerging) to the firms of the other economy (the advanced) are subject to a foreign currency...