Dimova, Dilyana, Kongsamut, Piyabha, Vandenbussche, Jérôme, (2016), ” Macroprudential Policies in Southeastern Europe”, IMF Publications, 15 Φεβρουαρίου
This paper presents a detailed account of the rich set of macroprudential measures taken in four Southeastern European countries—Bulgaria, Croatia, Romania, and Serbia—during their synchronized boom and bust cycles in 2003–12, and assesses their effectiveness. We find that only strong measures helped contain domestic credit growth, the share of foreigncurrency- denominated loans provided by the domestic banking sector, or the domestic banking sector’s reliance on foreign borrowing during the boom years.
Σχετικές Αναρτήσεις
- Houben, A., Kakes, J., (2013), “Unity in diversity: Protecting the common market with divergent macroprudential policies”, www.voxeu.org , 30 Ιουλίου.
- Tressel, Thierry, Sophia Zhang, Yuanyan, (2016), “Effectiveness and Channels of Macroprudential Instruments : Lessons from the Euro Area”, IMF Publications, 12 Ιανουαρίου