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Foreign Banks in the CESE Countries; In for a Penny, in for a Pound?

  • Li L Ong
  • Andrea M. Maechler
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    The aim of this paper is to construct a comprehensive and consistent dataset to analyze the potential risks from foreign bank lending, for both the creditor and borrower countries of Central, Eastern and South-Eastern Europe (CESE). We develop a picture of bank claims on 13 CESE countries by combining credit statistics from several sources. Our constructed data suggest that some of these host countries have become more at risk from a sudden withdrawal of short-term external funding, while home countries have significant aggregate exposures to the region. Overall, we find that data on banking activity remain largely inadequate for surveillance and policymaking purposes, and that a concerted effort to improve data collection is needed at the international level.

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    Paper provided by International Monetary Fund in its series IMF Working Papers with number 09/54.

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    Length: 64
    Date of creation: 01 Mar 2009
    Date of revision:
    Handle: RePEc:imf:imfwpa:09/54
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    1. Reinhart, Carmen & Kaminsky, Graciela, 2001. "Bank Lending and Contagion: Evidence from the Asian Crisis," MPRA Paper 7580, University Library of Munich, Germany.
    2. Reinhart, Carmen & Kaminsky, Graciela & Vegh, Carlos, 2003. "The unholy trinity of financial contagion," MPRA Paper 13878, University Library of Munich, Germany.
    3. Ralph de Haas & Iman van Lelyveld, 2002. "Foreign Bank Penetration and Private Sector Credit in Central and Eastern Europe," International Finance 0209002, EconWPA.
    4. repec:onb:oenbwp:y:2006:i:11:b:1 is not listed on IDEAS
    5. Adam Geršl, 2007. "Foreign Banks, Foreign Lending and Cross-Border Contagion: Evidence from the BIS Data," Working Papers IES 2007/08, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jan 2007.
    6. Inci Ötker & Karl Driessen & Zsófia à rvai, 2009. "Regional Financial Interlinkages and Financial Contagion within Europe," IMF Working Papers 09/6, International Monetary Fund.
    7. Patrick McGuire & Philip Wooldridge, 2005. "The BIS consolidated banking statistics: structure, uses and recent enhancements," BIS Quarterly Review, Bank for International Settlements, September.
    8. Kaminsky, Graciela L. & Reinhart, Carmen M., 2000. "On crises, contagion, and confusion," Journal of International Economics, Elsevier, vol. 51(1), pages 145-168, June.
    9. Giannetti, Mariassunta & Ongena, Steven, 2012. "“Lending by example”: Direct and indirect effects of foreign banks in emerging markets," Journal of International Economics, Elsevier, vol. 86(1), pages 167-180.
    10. Peter Backé & Thomas Reininger & Walko Zoltan, 2006. "Main Features of Recent Banking Sector Developments in Selected Southeastern European Countries," Financial Stability Report, Oesterreichische Nationalbank (Austrian Central Bank), issue 11, pages 66-82.
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