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A re-assessment of credit development in European transition economies

Author

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  • Aleksandra Zdzienicka

Abstract

The aim of the paper is to assess the dynamics of credit development in the aftermath of the 2008 international crisis for a group of 11 European transition economies. Specifically, using filtering methods and dynamic panel estimations, the paper analyzes whether the expansion in banking credit before the recent financial crisis could be considered as “excessive” and whether its recent slowdown could be seen as a “credit crunch”. Our results suggest that the countries that had been characterized by a larger and more protracted excessive credit before the onset of 2008 crisis have experienced the largest credit contraction.

Suggested Citation

  • Aleksandra Zdzienicka, 2011. "A re-assessment of credit development in European transition economies," International Economics, CEPII research center, issue 128, pages 33-51.
    • Handle: RePEc:cii:cepiie:2011-q4-128-2
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    Cited by:

    1. Lucie Reznakova & Svatopluk Kapounek, 2014. "Is There a Credit Crunch in the Czech Republic?," MENDELU Working Papers in Business and Economics 2014-50, Mendel University in Brno, Faculty of Business and Economics.
    2. Lucie Režňáková & Svatopluk Kapounek, 2015. "Is There a Credit Crunch in the Czech Republic?," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 63(3), pages 995-1003.
    3. Edoardo Gaffeo & Petya Garalova, 2014. "On the finance-growth nexus: additional evidence from Central and Eastern Europe countries," Economic Change and Restructuring, Springer, vol. 47(2), pages 89-115, May.
    4. Iwanicz-Drozdowska, Małgorzata & Witkowski, Bartosz, 2016. "Credit growth in Central, Eastern, and South-Eastern Europe: The case of foreign bank subsidiaries," International Review of Financial Analysis, Elsevier, vol. 43(C), pages 146-158.

    More about this item

    Keywords

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    JEL classification:

    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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