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Credit growth in emerging Europe : a cause for stability concerns? / Skamnelos, Ilias
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Skamnelos, Ilias
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Access to Finance.
- Banking Sector.
- Bankruptcy and Resolution of Financial Distress.
- Banks and Banking Reform.
- Credit Growth.
- Credit Rating.
- Currencies and Exchange Rates.
- Debt Markets.
- Finance and Financial Sector Development.
- Financial contagion.
- Financial crises.
- Financial crisis.
- Financial stability.
- International Bank.
- International financial institutions.
- Market economy.
- Local Subjects:
- Access to Finance.
- Banking Sector.
- Bankruptcy and Resolution of Financial Distress.
- Banks and Banking Reform.
- Credit Growth.
- Credit Rating.
- Currencies and Exchange Rates.
- Debt Markets.
- Finance and Financial Sector Development.
- Financial contagion.
- Financial crises.
- Financial crisis.
- Financial stability.
- International Bank.
- International financial institutions.
- Market economy.
- Physical Description:
- 1 online resource (47 pages)
- Place of Publication:
- Washington, D.C., The World Bank, 2007
- System Details:
- data file
- Summary:
- High credit growth in Emerging Europe, generally considered a sign of catching-up with the "old" Europe, has begun receiving considerable attention among investors and policymakers alike. Given heightened global risks and the demands under the European Union accession process, the need to better understand this high credit growth's drivers, riskiness, and the possible macroeconomic and financial stability consequences is strong. The authors adopt a holistic approach in reviewing the rapid credit growth experienced in the region, examining macroeconomic, financial sector, corporate sector, and asset market consequences and possible vulnerabilities. They consider three possible scenarios-a catching-up with older European countries, a soft landing as experienced by Portugal in the early 2000s, and a hard landing as experienced by Asia in 1997.
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