Research on the Credit Cycle and Business Cycle with a Focus on Ten States from Central, Eastern, and Southeastern Europe

Constantin-Marius Apostoaie, Stanislav Percic, Vasile Cocriş and Dan Chirleşan

Emerging Markets Finance and Trade, 2014, vol. 50, issue S4, 63-77

Abstract: By performing an econometric analysis of the credit cycle and business cycle from an individual as well as a comparative perspective, with a focus on ten relevant economies from the areas of Central, Eastern, and Southeastern Europe, this research offers a fresh view regarding the importance of banks in promoting long-term economic growth through their lending capacity. The purpose is to better understand the behavior (the short- and medium-term dynamics) of the credit cycle and business cycle and the effects of the interactions between them. The results of this study offer valuable insights for both academics and policymakers and provide a warning to regulators not to overregulate or put too much pressure on banking activity.

Date: 2014
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DOI: 10.2753/REE1540-496X5004S404

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