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The Maturity Structure of Bank Credit: Determinants and Effects on Economic Growth

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Author Info

  • Nikola Tasic

    (National Bank of Serbia)

  • Neven Valev

    (National Bank of Serbia)

Abstract

A new data set from the transition economies shows that the private sector has increasing access to long-term bank financing. In several transition countries credit has similar maturity structure to that in Western Europe, while in other transition countries credit remains mostly short-term. Several factors explain these differences: the political and institutional environment, bank privatization, sustained low inflation, the levels of economic and financial development, and the establishment of credit information sharing institutions. In contrast, the share of foreign owned banks and banking sector competition have no influence on credit maturity.

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Bibliographic Info

Paper provided by National Bank of Serbia in its series Working papers with number 13.

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Length: 36 pages
Date of creation: May 2008
Date of revision:
Handle: RePEc:nsb:wpaper:13

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Postal: National Bank of Serbia, 12 Kralja Petra St, 11 000 Belgrade, Republic of Serbia
Phone: 381-11/3248-841
Fax: 381-11/3234-120
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Related research

Keywords: financial development; economic growth; credit maturity; liquidity;

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References

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  1. Geert Bekaert & Campbell R. Harvey & Christian Lundblad, 2000. "Emerging Equity Markets and Economic Development," NBER Working Papers 7763, National Bureau of Economic Research, Inc.
  2. Mariassunta Giannetti, 2000. "Do Better Institutions Mitigate Agency Problems? Evidence from Corporate Finance Choices," Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area 376, Bank of Italy, Economic Research and International Relations Area.
  3. Valev, Neven T., 2007. "Uncertainty and international debt maturity," Journal of International Financial Markets, Institutions and Money, Elsevier, Elsevier, vol. 17(4), pages 372-386, October.
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Cited by:
  1. Nikola Tasic & Neven Valev, 2008. "The Provision of Long-term Financing in the Transition Economies," Working papers, National Bank of Serbia 14, National Bank of Serbia.

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