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Banking sector development and financial stability in the run up to EU accession

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Author Info
Henk Brouwer (De Nederlandsche Bank)
Ralph de Haas (De Nederlandsche Bank)
Bas Kiviet (De Nederlandsche Bank)
Abstract

The EU accession countries have made remarkable progress in developing their financial sectors. Nevertheless, potential risks to banking sector stability remain. We take stock of these risks, with a focus on the challenges posed by the EU accession process. Important potential risks we identify are consistently large current account deficits possibly combined with more volatile short-term financing in the future, imprudent financing of lending booms, increasing currency mismatches in the banking and corporate sector, substantial exchange rate volatility, and lagging legislation and supervision. Risks can be limited by taking advantage of the presence of foreign banks, keeping current account deficits within limits, taking financial stability considerations into account in determining exchange rate policies, guaranteeing the independence of the central bank and supervisory authorities, and strengthening the rule of law.

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Paper provided by EconWPA in its series Macroeconomics with number 0209003.

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Date of creation: 11 Sep 2002
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Handle: RePEc:wpa:wuwpma:0209003

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Web page: http://129.3.20.41

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Related research
Keywords: EU accession; financial stability; banking system;

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Find related papers by JEL classification:
E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. The Economic and Financial Committee., 2001. "Report on Financial Crisis Management," European Economy - Economic Papers 156, Commission of the EC, Directorate-General for Economic and Financial Affairs (DG ECFIN).
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    Other versions:
  3. Bilin Neyaptý & Nergiz Dincer, 2000. "Measuring the Quality of Bank Regulation and Supervision and its Macroeconomic Effects," Departmental Working Papers 0011, Bilkent University, Department of Economics.
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    Other versions:
  7. Prepared by the ad hoc working group of the Economic and Financial Committee., 2000. "Report on Financial Stability," European Economy - Economic Papers 143, Commission of the EC, Directorate-General for Economic and Financial Affairs (DG ECFIN).
  8. Hersch, Philip & Kemme, David & Netter, Jeffry, 1997. "Access to Bank Loans in a Transition Economy: The Case of Hungary," Journal of Comparative Economics, Elsevier, vol. 24(1), pages 79-89, February. [Downloadable!] (restricted)
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  13. Joe Peek & Eric S. Rosengren, 2000. "Implications of the globalization of the banking sector: the Latin American experience," New England Economic Review, Federal Reserve Bank of Boston, issue Sep, pages 45-62. [Downloadable!]
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  14. Katharina Pistor & Martin Raiser & Stanislaw Gelfer, 2000. "Law and Finance in Transition Economies," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 8(2), pages 325-368, July. [Downloadable!] (restricted)
  15. Sutela, Pekka, 2001. "Managing capital flows in Estonia and Latvia," BOFIT Discussion Papers 17/2001, Bank of Finland, Institute for Economies in Transition. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Supreena Narayanan & Rashmi Dalvi, 2004. "Assessment of Financial Stability Reports:Sveriges Riksbank," Finance 0411040, EconWPA. [Downloadable!]
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