Gergely Kiss () (Magyar Nemzeti Bank (central bank of Hungary))
Abstract
This article is of relevance from an economic policy point of view – it attempts to answer a question of current economic relevance raised in many member states of the European Union. Is the fast credit growth witnessed in recent years part of an equilibrium process or rather an excessive rise in lending involving risks? The analysis prepared by the MNB suggests that in the new EU member states, the macroeconomic trends explain in great depth the rapid growth in lending witnessed since the transition to a market economy. It is important to note, however, that there are signs of excessive growth in lending in the region, particularly in the Baltic states. Stability risks may arise in Hungary in relation to the increase in household lending experienced in recent years.
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Publisher Info
Article provided by Magyar Nemzeti Bank (The Central Bank of Hungary) in its journal MNB Bulletin.
Find related papers by JEL classification: E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy