Too Much of a Good Thing? Credit Booms in Transition Economies: The Cases of Bulgaria, Romania, and Ukraine
By Christoph K. Duenwald, N. Gueorguiev, Andrea Schaechter. Social Science Research Network, 2005
128 citations recorded by the source corpus.
Rapid credit growth in Bulgaria, Romania, and Ukraine has been driven by successful macroeconomic stabilization, robust growth, and capital inflows. While financial deepening is both expected and welcome, the recent expansions appear to have been excessive, as evidenced by widening current account deficits in Bulgaria and Romania, and prudential concerns in Ukraine. Policy responses have included attempts to both moderate credit growth and offset its impact on domestic demand, with mixed success thus far.
Subfields: Economics and Econometrics, Finance
View Paper: https://www.semanticscholar.org/paper/a490c073ce345f99b347d82b53d5d937103ff0ed
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Citations in the corpus
- Policies for Macrofinancial Stability: How to Deal with Credit Booms (2012, unknown): “See, for instance, Backé, Égert, and Zumer (2005), Boissay, Calvo-Gonzales, and Kozluk (2006), Cottarelli, Dell’Ariccia, and Vladkova-Hollar (2003), Duenwald, Gueorguiev, and Schaechter (2005), Hilbers and others (2005), and Terrones (2004).”
- Regional Economic Issues--Special Report 25 Years of Transition::Post-Communist Europe and the IMF (2014, background): “De Haas et al. (2013) and Popov and Udell (2012) find that multinational bank subsidiaries in Emerging Europe cut lending more than domestic banks.”
- Credit Growth in Central and Eastern Europe: New (Over)Shooting Stars? (2006, unknown): “1 Oesterreichische Nationalbank; peter.backe@oenb.at. 2 Oesterreichische Nationalbank, EconomiX at University of Paris X-Nanterre and William Davidson Institute; balazs.egert@oenb.at and begert@u-paris10.fr. 3 European Central Bank; tina.zumer@ecb.int. 4 The paper benefi ted from discussion at semin”