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The effect of enterprise and household credit on economic growth and real exchange rate dynamics : evidence from SEE countries
Angjelkovska, Tijana; Hani, Egzona; Eliskovski, Milan - Narodna Banka na Republika Makedonija - 2016
real effective exchange rate (REER) dynamics, for eight SEE countries. We construct dataset for Albania, Bosnia and … decomposing bank credit into households and enterprises so that we can assess their effects on both, the economic growth and REER … the REER, used as a measure of the price competitiveness of the specific countries, our findings suggest that both …
Persistent link: https://www.econbiz.de/10011620078
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Post-Crisis Credit Slowdown in South-East Europe – Return to Normality?
Jovanovic, Branimir; Hani, Egzona; Georgievska, Ljupka - 2014
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/10011785352
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Post-crisis credit slowdown in South-East Europe : return to normality?
Jovanovic, Branimir; Hani, Egzona; Georgievska, Ljupka - Narodna Banka na Republika Makedonija - 2014
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
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Creditless recovery in Eastern Europe
Olteanu, Dan - 2014
This paper aims to investigate the presence of a creditless economic recovery in Eastern Europe, after de 2008-2009 output collapse. To this end, we use three variables: credit stock, credit flow and money supply M1. We find that the changes in the credit flow, as percentage of GDP, are the most...
Persistent link: https://www.econbiz.de/10010529024
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Methods Rethinking Sustainable Growth (1)
Dorin, Nistor Leonard - 2010
Existence of phenomena such as unemployment and low earnings of the poorest social strata in both periods of recession and the economic boom, highlights the existence of root causes in society. Providing answers to the question: what are the causes and the solutions can be implemented to solve...
Persistent link: https://www.econbiz.de/10013134787
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Methods Rethinking Sustainable Growth (2)
Dorin, Nistor Leonard - 2010
Existence of phenomena such as unemployment and low earnings of the poorest social strata in both periods of recession and the economic boom, highlights the existence of root causes in society. Providing answers to the question: what are the causes and the solutions can be implemented to solve...
Persistent link: https://www.econbiz.de/10013135313
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Stock Markets, Banks and Economic Growth : Some Evidence on the Role of Stock Price Informativeness
Cheng, Fang Chin - 2011
This paper extends the economic growth model tested by Levine and Zervos (1998) by including a measure for capital allocation efficiency proxied by stock price informativeness. Using a sample of 59 countries, this study finds that stock price informativeness as measured by firm-specific return...
Persistent link: https://www.econbiz.de/10013121128
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China Meets the Middle-Income Trap : The Large Potholes in the Road to Catching-Up
Woo, Wing Thye - 2012
We follow Woo (2011) in using the Catch-Up Index (CUI) to define the middle-income trap and identify the countries caught in it. The CUI shows that China became a middle-income country in 2007-2008. We see five major types of middle-income trap that China is vulnerable to (a) fiscal stress from...
Persistent link: https://www.econbiz.de/10013097879
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Does Government Intervention in Credit Deployment Cause Inclusive Growth? An Evidence from Indian Banking
Swamy, Vighneswara - 2012
Access to finance by the poor is a sine qua non for poverty reduction through economic development thereby driving inclusive growth which can further lead to sustainable growth. This study using adequate data covering pre and post-liberalisation period from 1974-75 to 2007-08 in the Indian...
Persistent link: https://www.econbiz.de/10013102297
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Stock Price Informativeness and Output Growth : Some Evidence from Emerging Economies
Cheng, Fang Chin - 2013
This paper extends the output growth model tested by Levine and Zervos (1998) by including a measure for capital allocation efficiency proxied by stock price informativeness. Using a sample of 62 countries, this study finds that stock price informativeness as measured by firm-specific return...
Persistent link: https://www.econbiz.de/10013084065