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Demand and supply drivers of foreign currency loans in CEECs: A meta-analysis

  • Crespo Cuaresma, Jesús
  • Fidrmuc, Jarko
  • Hake, Mariya

We present a meta-analysis of the determinants of foreign currency loans in Central and Eastern Europe. We base our inferences on the results of 21 studies that provide around 800 estimated coefficients for seven determinants of foreign currency loan demand. Our results indicate that, on average, supply factors (foreign currency deposits and the minimum variance portfolio ratio) appear to play a more significant role than demand factors (interest rate differentials) of foreign currency loans. Moreover, we show that the estimates reported in the literature tend to be influenced by selected study characteristics such as the econometric methodology and their regional focus.

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Article provided by Elsevier in its journal Economic Systems.

Volume (Year): 38 (2014)
Issue (Month): 1 ()
Pages: 26-42

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Handle: RePEc:eee:ecosys:v:38:y:2014:i:1:p:26-42
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  1. Fidrmuc, Jarko & Korhonen, Iikka, 2006. "Meta-analysis of the business cycle correlation between the euro area and the CEECs," Journal of Comparative Economics, Elsevier, vol. 34(3), pages 518-537, September.
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  7. Christoph Rosenberg & Marcel Tirpák, 2009. "Determinants of Foreign Currency Borrowing in the New Member States of the EU," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 59(3), pages 216-228, August.
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  25. repec:onb:oenbwp:y:2011:i:1:b:1 is not listed on IDEAS
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