Is credit growth in central and eastern European countries excessive?
Annual credit growth rates of around 30% and 50% have been observed in some central, eastern and south-eastern European countries (the Baltic States, Bulgaria, Romania, Albania and Macedonia). Is this strong credit growth likely to result in a credit boom that would be detrimental to the economy? Or can it be explained by a catching-up process that is normal for countries with a low level of fi nancial intermediation at the time of their transition?.
Volume (Year): (2008)
Issue (Month): 13 (Autumn)
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