Rapid Credit Growth in Central and Eastern Europe

Abstract

PART I: Assessing and Managing Rapid Credit Growth in Central and Eastern Europe C.Enoch The Causes and Nature of Rapid Growth of Bank Credit in the Central, Eastern, and South Eastern European Countries C.Arcalean, O.Calvo-Gonzalez, C.More, A.van Rixtel, A.Winkler & T.Zumer Using Fundamentals to Identify Episodes of 'Excessive' Credit Growth in Central and Eastern Europe F.Boissay, O.Calvo-Gonzalez & T.Kozluk Fast Credit Expansion in Central and Eastern Europe: Catching Up, Sustainable Financial Deepening, or Bubble? P.Backe, B.Egert & T.Zumer Analysis of and Policy Responses to Rapid Credit Growth P.Hilbers, I.Otker-Robe & C.Pazarbasioglu Rapid Credit Growth - The Role of Supervisors M.Josefsson PART II: Assessing and Managing Rapid Credit Growth - Country Experiences Credit Growth Slow Down: The Experience of Bulgaria V.Petkova & S.Manolov Croatian Experience with Rapid Credit Growth M.Lang Estonia's Experience with Rapid Credit Growth R.Lattemae Latvia's Experience with Rapid Credit Growth U.Rutkaste Assessment of Credit Growth in Lithuania T.Ramanauskas Poland's Experiences with Rapid Credit Growth - The 1996-1997 Episode P.Szpunar Growth of Non-Government Credit and Macroeconomic Developments: The Case of Romania C.Popa Slovakia: Credit Growth in the Household Sector and Response to the Related Risks M.Licak Too Much of a Good Thing? Credit Booms in Transition Economies: The Cases of Bulgaria, Romania, and Ukraine C.Duenwald, N.Gueorguiev & A.Schaechter PART III: Regional Dimensions of Rapid Credit Growth and Perspectives from Euro Convergence Countries The Role of Housing Markets and Foreign Owned Banks in the Credit Expansion in Central and Eastern Europe D.Mihaljek Regional Dimensions of Dealing with Rapid Credit Growth: Perspectives from Greece, 1998-2005 N.Kamberoglou & N.Stavrianou Debt Growth: Factors, Institutional Issues and Implications - The Portuguese Case N.Ribeiro The Growth of Private Sector Debt in Spain: Causes and Consequences C.Martinez-Carrascal PART IV: Cross-Border Dimension: Supervisory Coordination Between Bank Supervisors Cross-Border Supervisory Cooperation K.Zartl Home Country Perspective: The Role of Cross Border Supervisory Coordination when Dealing with Rapid Credit Growth in Emerging Countries - The Case for Cooperating Supervisors L.van Goor Home and Host Supervisors' Relations - A Host Supervisor's Perspective P.Bednarski & D.Starnowski PART V: Concluding Remarks Lessons from Country Experiences with Rapid Credit Growth in Europe and Policy Implications C.Enoch & I.Otker-Robe