Rapid credit growth in Central and Eastern Europe: endless boom or early warning?
Palgrave Macmillan/International Monetary Fund, Apr 15, 2007 - Business & Economics - 373 pages
This book represents the latest developments and policy debate on a very current issue: the rapid growth of banking sector credit to the private sector, which continues to occupy the minds of academics and policymakers alike in many Central and Eastern European (CEE) countries. The contributions, from the representatives of international organizations and monetary and supervisory authorities of a number of Western and CEE countries, discuss ways to assess and respond to excessive credit growth. Case studies represent the challenges faced by policymakers in dealing with rapid credit growth, providing useful lessons for other countries experiencing a similar phenomenon.
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Credit Growth in Central and Eastern Europe
The Causes and Nature of the Rapid Growth of Bank Credit in
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assessment assets average bank credit bank supervisors banking sector banking system Bulgaria Bulgaria and Romania capital adequacy CEE countries central bank commercial banks consumer credit boom credit expansion credit risk credit-to-GDP ratio Croatia Croatian National Bank current account deficit Czech Republic debt demand deposits developments domestic currency economic growth effective emerging market equilibrium estimates Estonia euro area European European Central Bank exchange rate exposure external factors Figure financial sector financial stability financial system fiscal foreign banks foreign borrowing foreign currency foreign exchange framework growth rates housing loans Hungary impact income increase inflation institutions interest rates International Monetary Fund investment Latvia limited liquidity Lithuania macroeconomic measures monetary policy National Bank nonbank percent of GDP Poland portfolios potential private sector credit rapid credit growth real estate recent region reserve requirements Romania share significant Slovakia Slovenia Source structure supervision supervisory tightening transition economies Ukraine