CREDIT AND ECONOMIC REGENERATION AFTER THE FINANCIAL CRISIS IN CESEE

Bekim Stafai, Rilind Ademi

Abstract


The global financial crisis terminated lending growth rates in CESEE countries, and seven years after financial global crisis, bank credit still continues with depression rate.  Demand and supply for bank credit are contracted, as a results of various factors. The paper tries to find the level of credit contraction and factors that may have affected it, as well as policy action which are being taken to improve bank performance. Economic activity on the other hand, despite the depressed credit growth rates seem to show a trend of regeneration. This phenomenon of increasing economic activity without the support of the loan seems is happening in this post-crisis period in CESEE countries, although we must say that it remains undesirable phenomenon.


Keywords


bank credit, financial crisis, economic activity

Full Text:

PDF

References


Abiad, G., & Dell’Ariccia, B. L., (2011 March). Creditless Recoveries, IMF Working Paper, WP/11/58.

Biggs, M., Mayer, T., & Pick, A. (2009). Credit and economic recovery, Working Paper 218, DNB.

Bijsterbosch,M., Dahlhaus,T, (2011 June). Determinants of credit-less recoveries, Working Paper Series, ECB, No.1358.

Calvo, G. A., Izquierdo, A., & Talvi, E. (2006). Phoenix miracles in emerging markets:Recovering without credit from systemic banking crises, Working Paper 570, Inter-American Development Bank.

European Investment Bank (EIB) (2015). CESEE Bank Lending Survey – H1 2015.

International Finance Statistics (IFS) (n.d.). International Monetary Fund (IMF), retrieved from http://data.imf.org/?sk=5DABAFF2-C5AD-4D27-A175-1253419C02D1

International Monetary Fund (2013). Global financial stability report 2013, World Economic and Financial Surveys, Washington D.C.

Jazbec, B., Towe, C., Piñon, M., & Banerjee, B., (2015). Reinvigorating Credit Growth in Central, Eastern, and Southern European Economies, Chapter III “What is driving kredit developments, Can something be done?”, pg.29, IMF, Bank of Slovenija




DOI: http://dx.doi.org/10.12955/cbup.v4.756

Refbacks

  • There are currently no refbacks.


Print ISSN 1805-997X, Online ISSN 1805-9961

(c) 2017 Central Bohemia University