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The Maturity Structure of Bank Credit: Determinants and Effects on Economic Growth

Author

Listed:
  • Nikola Tasic

    (National Bank of Serbia)

  • Neven Valev

    (National Bank of Serbia)

Abstract

A new data set from the transition economies shows that the private sector has increasing access to long-term bank financing. In several transition countries credit has similar maturity structure to that in Western Europe, while in other transition countries credit remains mostly short-term. Several factors explain these differences: the political and institutional environment, bank privatization, sustained low inflation, the levels of economic and financial development, and the establishment of credit information sharing institutions. In contrast, the share of foreign owned banks and banking sector competition have no influence on credit maturity.

Suggested Citation

  • Nikola Tasic & Neven Valev, 2008. "The Maturity Structure of Bank Credit: Determinants and Effects on Economic Growth," Working papers 13, National Bank of Serbia.
  • Handle: RePEc:nsb:wpaper:13
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    File URL: http://www.nbs.rs/internet/english/90/90_0/2008_13_NT_NV_e.pdf
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    References listed on IDEAS

    as
    1. Bekaert, Geert & Harvey, Campbell R. & Lundblad, Christian, 2001. "Emerging equity markets and economic development," Journal of Development Economics, Elsevier, vol. 66(2), pages 465-504, December.
    2. Giannetti, Mariassunta, 2003. "Do Better Institutions Mitigate Agency Problems? Evidence from Corporate Finance Choices," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 38(01), pages 185-212, March.
    3. Valev, Neven T., 2007. "Uncertainty and international debt maturity," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 17(4), pages 372-386, October.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Florian LEON, 2018. "Long-Term Finance and Entrepreneurship," CREA Discussion Paper Series 18-01, Center for Research in Economic Analysis, University of Luxembourg.
    2. M. Bijlsma & C.J.M. Kool & Marielle Non, 2017. "The effect of financial development on economic growth : a meta-analysis," Working Papers 17-01, Utrecht School of Economics.
    3. Park,Haelim & Ruiz Ortega,Claudia & Tressel,Thierry, 2015. "Determinants of long-term versus short-term bank credit in EU countries," Policy Research Working Paper Series 7436, The World Bank.
    4. Tasic, Nikola & Valev, Neven, 2010. "The provision of long-term financing in the transition economies," Journal of Comparative Economics, Elsevier, vol. 38(2), pages 160-172, June.

    More about this item

    Keywords

    financial development; economic growth; credit maturity; liquidity;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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