Regional Financial Interlinkages and Financial Contagion within Europe
This paper focuses on financial interlinkages within Europe and potential contagion channeled through these interlinkages. It discusses the increased role of external financing as a source of funding for credit growth; analyzes potential channels of contagion through financial linkages; and assesses the magnitude of cross-border exposures between emerging and western European countries. Based on the stylized facts on these exposures, the paper provides simple indices of exposure to regional contagion that could help identify the likely pressure points and capture potential spillover effects and propagation channels of a regional shock originating from a given country.
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- Peter Backé & Balázs Égert, 2006.
"Credit Growth in Central and Eastern Europe: New (Over)Shooting Stars?,"
Focus on European Economic Integration,
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- Egert, Balázs & Backé, Peter & Zumer, Tina, 2006. "Credit growth in Central and Eastern Europe: new (over)shooting stars?," Working Paper Series 0687, European Central Bank.
- Massimo Sbracia & Andrea Zaghini, 2001.
"The Role of the Banking System in the International Transmission of Shocks,"
Temi di discussione (Economic working papers)
409, Bank of Italy, Economic Research and International Relations Area.
- Massimo Sbracia & Andrea Zaghini, 2003. "The Role of the Banking System in the International Transmission of Shocks," The World Economy, Wiley Blackwell, vol. 26(5), pages 727-754, 05.
- Inci Ã–tker & Karl Driessen & ZsÃ³fia Ãrvai, 2009.
"Regional Financial Interlinkages and Financial Contagion within Europe,"
IMF Working Papers
09/6, International Monetary Fund.
- Zsófia Arvai & Karl Driessen & Ínci Ötker-Robe, 2009. "Regional Financial Interlinkages and Financial Contagion within Europe," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 59(6), pages 522-540, December.
- Li L. Ong & Andrea M. Maechler, 2009. "Foreign Banks in the CESE Countries; In for a Penny, in for a Pound?," IMF Working Papers 09/54, International Monetary Fund.
- Ceyla Pazarbasioglu & Gudrun Johnsen & Paul Louis Ceriel Hilbers & Inci Ã–tker, 2005. "Assessing and Managing Rapid Credit Growth and the Role of Supervisory and Prudential Policies," IMF Working Papers 05/151, International Monetary Fund.
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