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The binding constraint on growth in less developed Western Balkan countries

Listed author(s):
  • Gabrisch, Hubert

The study applies an adjusted growth diagnostic approach to identify the actual binding constraint on financing growth in the West Balkan countries. This group of economies includes combined structural and systemic transformation problems. The results of the analysis indicate that the binding constraint on credit and investment growth in the region is the high and still increasing share of non-performing loans primarily in the private household sector due to policy failures. The analysis is performed in comparison with a group of advanced transition economies. Single-country and panel regressions indicate that demand side factors do not play a constraining role in the West Balkan countries but in the advanced transition economies.

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File URL: https://mpra.ub.uni-muenchen.de/60020/1/MPRA_paper_60020.PDF
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 60020.

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Date of creation: 18 Nov 2014
Handle: RePEc:pra:mprapa:60020
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  1. Nobuo Inaba & Takashi Kozu & Toshitaka Sekine & Takashi Nagahata, 2005. "Non-performing loans and the real economy: Japan’s experience," BIS Papers chapters,in: Bank for International Settlements (ed.), Investigating the relationship between the financial and real economy, volume 22, pages 106-27 Bank for International Settlements.
  2. Petr Jakubík & Thomas Reininger, 2013. "Determinants of Nonperforming Loans in Central, Eastern and Southeastern Europe," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 3, pages 48-66.
  3. Dani Rodrik, 2008. "Goodbye Washington Consensus, Hello Washington Confusion? A Review of the World Banks Economic Growth in the 1990s: Learning from a Decade of Reform," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 55(2), pages 135-156, June.
  4. Anne Krueger & Aaron Tornell, 1999. "The Role of Bank Restructuring in Recovering from Crises: Mexico 1995-98," NBER Working Papers 7042, National Bureau of Economic Research, Inc.
  5. Kunal Sen & Colin Kirkpatrick, 2011. "A diagnostics approach to economic growth and employment policy in low income economies: The case of Kosovo," Journal of International Development, John Wiley & Sons, Ltd., vol. 23(1), pages 132-154, January.
  6. Yaroslava Babych & Michael Fuenfzig, 2012. "An Application of the Growth Diagnostics Framework: The Case of Georgia," Working Papers 001-12, International School of Economics at TSU, Tbilisi, Republic of Georgia.
  7. Dani Rodrik, 2010. "Diagnostics before Prescription," Journal of Economic Perspectives, American Economic Association, vol. 24(3), pages 33-44, Summer.
  8. Brada, Josef C & King, Arthur E, 1992. "Is There a J-Curve for the Economic Transition from Socialism to Capitalism?," Economic Change and Restructuring, Springer, vol. 25(1), pages 37-53.
  9. Kornai, J., 1993. "Transformational Recession; A General Phenomenon Examined Through the Example of Hangary's Development," Harvard Institute of Economic Research Working Papers 1648, Harvard - Institute of Economic Research.
  10. Alexandru Stratan, Marcel Chistruga, 2012. "What Drives High Cost Of Finance In Moldova?," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 38-46, March.
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