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Is credit growth in central and eastern European countries excessive?

Virginie Coudert () and Cyril Pouvelle ()

Quarterly selection of articles - Bulletin de la Banque de France, 2008, issue 13, 63-102

Abstract: Annual credit growth rates of around 30% and 50% have been observed in some central, eastern and south-eastern European countries (the Baltic States, Bulgaria, Romania, Albania and Macedonia). Is this strong credit growth likely to result in a credit boom that would be detrimental to the economy? Or can it be explained by a catching-up process that is normal for countries with a low level of fi nancial intermediation at the time of their transition?.

Keywords: bank loans; convergence; catching-up. (search for similar items in EconPapers)
JEL-codes: C33 E51 G21 (search for similar items in EconPapers)
Date: 2008
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