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Banking Sector Stability During The Process Of Euro Adoption

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Author Info
Bilge Kagan Ozdemir () (Anadolu University)

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Abstract

In this paper, reasons of the rapid credit expansion in three biggest new European Union member states (i.e., Czech Republic, Hungary and Poland) are investigated during the process of Euro Adoption. Credit expansion is identified as a boom, if it exceeds the standard deviation of the country’s credit fluctuations around trend by a factor of 1.75. Following the literature on credit booms, the trend is estimated by using Hodrick-Prescot (HP) filter. Furthermore, to investigate the direction of the causal relationship between the credit expansion and economic growth, the traditional Granger causality test is applied in an vector error correction (VEC) context.

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File URL: http://www.anadolu.edu.tr/arastirma/hakemli_dergiler/sosyal_bilimler/pdf/2009-1/2009_01_07.pdf
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Publisher Info
Article provided by Anadolu University in its journal Anadolu University Journal of Social Sciences.

Volume (Year): 9 (2009)
Issue (Month): 1 (June)
Pages: 123-1236
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Handle: RePEc:and:journl:v:9:y:2009:i:1:p:123-136

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Related research
Keywords: Credit Booms; Euro Area; Banking Sector Stability.;

Find related papers by JEL classification:
F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages

References listed on IDEAS
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