By Charles Enoch, Inci Ötker, I. Ötker-Robe
This quantity represents the most recent advancements and coverage debate on a truly present factor: the swift development of banking region credits to the non-public region, which keeps to occupy the minds of teachers and policymakers alike in lots of relevant and japanese eu (CEE) nations. The papers, awarded by means of the representatives of overseas organisations and financial and supervisory professionals of a couple of western and CEE international locations, supply discussions on how one can investigate and reply to over the top credits progress. Case reviews signify the demanding situations confronted by way of policymakers in facing quick credits development, supplying worthy classes for different international locations experiencing an identical phenomenon. for additional information on how you can buy a replica of this name, please stopover at http://www.palgrave.com/economics/imf/index.asp.
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Additional resources for Rapid Credit Growth in Central and Eastern Europe: Endless Boom or Early Warning?
7 EBRD Index of Banking Sector Reform (higher values indicate more advanced stage of reforms; unweighted averages) Source: EBRD. First, foreign entry has played an important role in banking intermediation development. 8 shows, in most countries in the region the banking sector became predominantly foreign-owned by the turn of the century, mainly reflecting bank privatization which typically leads to efficiency gains, especially in the case of privatization to foreign strategiC investors. Empirical research has indicated that a more efficient banking sector will increase financial intermediation (see Clarke et aI, 200S).
See Cottarelli, Dell'Aricca' and Vladkova-Hollar (2003); Hilbers, Otker-Robe, Pazarbasioglu, and Johnsen (2005); and Maechler and Swinburne (2005). S. Please note that these papers are at this stage the responsibility only of the authors, and do not necessarily reflect an official IMF view. 6. See Sundararajan, Enoch, San Jose, Hilbers, Krueger, Moretti, and Slack (2002). 7. Also, while the pickup may be slight, it could well be significant in determining whether a Euro aspirant meets or breaches the Maastricht criteria.
2. I would like to thank the NBR, and in particular Governor Isarescu and Deputy Governor Popa, for providing the facilities for these discussions. 3. Please see the Managing Director's Report on the Fund's Medium-Term Strategy. 4. See Cottarelli, Dell'Aricca' and Vladkova-Hollar (2003); Hilbers, Otker-Robe, Pazarbasioglu, and Johnsen (2005); and Maechler and Swinburne (2005). S. Please note that these papers are at this stage the responsibility only of the authors, and do not necessarily reflect an official IMF view.