. High unofficial euroisation is a source of indirect credit risk for countries with their own national legal tender, which …

We document a major mechanism – inorganic growth – which drives a wedge between micro-study effects of credit supply … shocks and aggregate effects. Exploiting a quasi-exogenous positive shock to credit supply, we document that affected firms …, and the quality of the credit-supply-induced acquisition activity is low. The market for inorganic growth is large …

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 … economy being in medium-term equilibrium. Results suggest that the slowdown reflects both return of the credit activity to its …

most CESEE countries included triggers for strong credit growth, especially in the private sector. What are the transition … results on the macro level? Does this credit growth contribute to financial and economic development or is there a risk of a … transition-driven overshooting? We review the literature and empirical studies on financial development, credit growth and …

Credit risk assessment is a crucial part of macroprudential analysis, with the aggregate nonperforming loan (NPL) ratio … important determinants that can help explain the change in NPL ratios in the CESEE countries: past credit growth as well as … of excessive credit growth as well as foreign exchange lending. …

and disadvantages. In this study, the relationship between the allocation of credit and the presence of foreign banks in … foreign bank on accessing to credit in transition economies examined in macroeconomic level. Findings obtained from the study … numerically and in the banking sector is examined, it is observed that foreign banks make the credit accessibility of the firms …

In this work, we try to analyze the recent credit development in 11 Central and Eastern European countries and estimate … the credit-to-GDP ratio equilibrium level using filtering methods and dynamic panel estimations. Our estimation findings … corroborate previous fears about the rapid credit growth in the CEECs. Indeed, in many cases the credit expansion exceeds the …

This paper analyzes the equilibrium level of private credit to GDP in 11 Central and Eastern European countries in … order to see whether the high credit growth recently observed in some of these countries led to above equilibrium private … credit-to-GDP levels. We use estimation results obtained for a panel of small open OECD economies (out-of-sample panel) to …