Effectiveness of macroprudential policies in Central and Eastern European countries

Effectiveness of macroprudential policies in Central and Eastern European countries

This paper extends the available datasets on the use of macroprudential policies in CEE countries, and provides an econometric assessment of the effectiveness of these policies in mitigating financial stability risks associated with excessive credit growth before the global financial crisis. The mod...

Full description

Bibliographic Details
Main Author: Mirna Dumicic
Format: Article
Language:English
Published: Institute of Public Finance 2018-03-01
Series:Public Sector Economics
Subjects:
macroprudential policy; financial stability; credit growth; systemic risk; CEE countries
Online Access: http://www.pse-journal.hr/upload/files/pse/2018/1/dumicic.pdf
id doaj-14b0922d58ae4b34a341fbefa2899ae1
record_format Article
spelling doaj-14b0922d58ae4b34a341fbefa2899ae12020-11-24T21:40:06ZengInstitute of Public FinancePublic Sector Economics2459-88602018-03-01424211910.3326/pse.42.1.12243Effectiveness of macroprudential policies in Central and Eastern European countriesMirna Dumicic0 Croatian National Bank, Zagreb, Croatia This paper extends the available datasets on the use of macroprudential policies in CEE countries, and provides an econometric assessment of the effectiveness of these policies in mitigating financial stability risks associated with excessive credit growth before the global financial crisis. The model results imply that macroprudential policies were more effective in slowing credit to households than credit to the non-financial corporate sector, mainly because the latter had access to nonbank and cross-border credit in addition to domestic bank credit. http://www.pse-journal.hr/upload/files/pse/2018/1/dumicic.pdf macroprudential policy; financial stability; credit growth; systemic risk; CEE countries
collection DOAJ
language English
format Article
sources DOAJ
author Mirna Dumicic
spellingShingle Mirna Dumicic
Effectiveness of macroprudential policies in Central and Eastern European countries
Public Sector Economics
macroprudential policy; financial stability; credit growth; systemic risk; CEE countries
author_facet Mirna Dumicic
author_sort Mirna Dumicic
title Effectiveness of macroprudential policies in Central and Eastern European countries
title_short Effectiveness of macroprudential policies in Central and Eastern European countries
title_full Effectiveness of macroprudential policies in Central and Eastern European countries
title_fullStr Effectiveness of macroprudential policies in Central and Eastern European countries
title_full_unstemmed Effectiveness of macroprudential policies in Central and Eastern European countries
title_sort effectiveness of macroprudential policies in central and eastern european countries
publisher Institute of Public Finance
series Public Sector Economics
issn 2459-8860
publishDate 2018-03-01
description This paper extends the available datasets on the use of macroprudential policies in CEE countries, and provides an econometric assessment of the effectiveness of these policies in mitigating financial stability risks associated with excessive credit growth before the global financial crisis. The model results imply that macroprudential policies were more effective in slowing credit to households than credit to the non-financial corporate sector, mainly because the latter had access to nonbank and cross-border credit in addition to domestic bank credit.
topic macroprudential policy; financial stability; credit growth; systemic risk; CEE countries
url http://www.pse-journal.hr/upload/files/pse/2018/1/dumicic.pdf
work_keys_str_mv AT mirnadumicic effectivenessofmacroprudentialpoliciesincentralandeasterneuropeancountries
_version_ 1725928166998933504

Similar Items