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Balance Sheet Repair and Reviving Private Sector Lending: A Survey of Financial Stability Challenges in Central, Eastern and South-Eastern Europe

In: From Crisis to Recovery

Author

Listed:
  • Peter Mooslechner
  • Thomas Reininger

Abstract

The economic catching-up process in Central, Eastern and South-Eastern Europe (CESEE)1 since the beginning of the 1990s has featured elevated real growth rates, starting from relatively low GDP-per-capita levels. In parallel, the process of financial deepening has shown up in increasing ratios of financial variables to GDP, starting from even lower initial levels. Domestic financial sources were scarce, but absolutely essential, at the beginning and during the early phase of the transition process. Credit growth then took off, to a significant extent, on the back of the inflow of foreign capital in the form of foreign direct investment, direct cross-border financing and, last but not least, the expansion of foreign-owned banks.

Suggested Citation

  • Peter Mooslechner & Thomas Reininger, 2012. "Balance Sheet Repair and Reviving Private Sector Lending: A Survey of Financial Stability Challenges in Central, Eastern and South-Eastern Europe," Palgrave Macmillan Books, in: Thierry Bracke & Reiner Martin (ed.), From Crisis to Recovery, chapter 6, pages 130-163, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-03483-0_7
    DOI: 10.1057/9781137034830_7
    as

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