Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/173709 
Erscheinungsjahr: 
2014
Schriftenreihe/Nr.: 
Working Paper No. [2014-01]
Verlag: 
National Bank of the Republic of Macedonia, Skopje
Zusammenfassung: 
What explains the post-crisis slowdown in bank credit to private sector in the South-East European economies? We try to answer this question, by comparing the actual credit growth to the fundamental and equilibrium growths. The fundamental growth is defined as the growth justified by the fundamentals, the equilibrium growth - as the growth consistent with the economy being in medium-term equilibrium. Results suggest that the slowdown reflects both return of the credit activity to its fundamental value, and return of the fundamental values to their equilibrium levels, after years of excessiveness during the pre-crisis period. Rapid credit growth, as in the pre-crisis period, should not be expected in the near future.
Schlagwörter: 
credit growth
equilibrium credit
fundamental credit
South-East Europe
JEL: 
E44
E51
G21
Dokumentart: 
Working Paper

Datei(en):
Datei
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