TY  - BOOK
AU  - Skamnelos,Ilias
AU  - Sirtaine,Sophie
AU  - Skamnelos,Ilias
TI  - Credit growth in emerging Europe: a cause for stability concerns? 
PY  - 2007///
CY  - Washington, D.C.
PB  - The World Bank
KW  - Access to Finance
KW  - Banking Sector
KW  - Bankruptcy and Resolution of Financial Distress
KW  - Banks and Banking Reform
KW  - Credit Growth
KW  - Credit Rating
KW  - Currencies and Exchange Rates
KW  - Debt Markets
KW  - Finance and Financial Sector Development
KW  - Financial contagion
KW  - Financial crises
KW  - Financial crisis
KW  - Financial stability
KW  - International Bank
KW  - International financial institutions
KW  - Market economy
N2  - High credit growth in Emerging Europe, generally considered a sign of catching-up with the "old" Europe, has begun receiving considerable attention among investors and policymakers alike. Given heightened global risks and the demands under the European Union accession process, the need to better understand this high credit growth's drivers, riskiness, and the possible macroeconomic and financial stability consequences is strong. The authors adopt a holistic approach in reviewing the rapid credit growth experienced in the region, examining macroeconomic, financial sector, corporate sector, and asset market consequences and possible vulnerabilities. They consider three possible scenarios-a catching-up with older European countries, a soft landing as experienced by Portugal in the early 2000s, and a hard landing as experienced by Asia in 1997
UR  - http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-4281
ER  -