Rapid Credit Growth in Central and Eastern Europe

Part One. Assessing and Managing Rapid Credit Growth—General Framework

1. Credit Growth in Central and Eastern Europe
Charles Enoch

2. The Causes and Nature of the Rapid Growth of Bank Credit in the Central, Eastern and South-eastern European Countries
Calin Arcalean, Oscar Calvo-Gonzalez, Csaba Móré, Adrian Rixtel, Adalbert Winkler, Tina Zumer

3. Using Fundamentals to Identify Episodes of “Excessive” Credit Growth in Central and Eastern Europe
Frédric Boissay, Oscar Calvo-Gonzalez, Tomasz Koźluk

4. Fast Credit Expansion in Central and Eastern Europe: Catching-up, Sustainable Financial Deepening, or Bubble?
Peter Backé, Balázs Égert, Tina Zumer

5. Analysis of and Policy Responses to Rapid Credit Growth
Paul Hilbers, İnci Ötker-Robe, Ceyla Pazarbasioǧlu

6. Rapid Credit Growth—The Role of Supervisors
Mats Josefsson

Part Two. Assessing and Managing Rapid Credit Growth—Country Experiences

7. Credit Growth Slowdown: The Experience of Bulgaria
Veselka Petkova, Stoyan Manolov

8. The Croatian Experience with Rapid Credit Growth
Maroje Lang

9. Estonia’s Experience with Rapid Credit Growth
Raoul Lättemäe

10. Latvia’s Experience with Rapid Credit Growth
Uldis Rutkaste

11. Assessment of Credit Growth in Lithuania
Tomas Ramanauskas

12. Poland’s Experiences with Rapid Credit Growth—The 1996–97 Episode
Piotr Szpunar

13. Fast Credit Growth and Policy Response: The Case of Romania
Cristian Popa

14. Slovakia: Credit Growth in the Household Sector and Response to the Related Risks
Marek Ličák

15. Too Much of a Good Thing? Credit Booms in Transition Economies: The Cases of Bulgaria, Romania, and Ukraine
Christoph Duenwald, Nikolay Gueorguiev, Andrea Schaechter

Part Three. Regional Dimensions of Rapid Credit Growth and Perspectives from Euro Convergence Countries

16. The Role of Housing Markets and Foreign-owned Banks in the Credit Expansion in Central and Eastern Europe
Dubravko Mihaljek

17. Regional Dimensions of Dealing with Rapid Credit Growth: Perspectives from Greece (1998–2005)
Nicos Kamberoglou, Nikolaos Stavrianou

18. Debt Growth: Factors, Institutional Issues and Implications—The Portuguese Case
Nuno Ribeiro

19. The Growth of Private Sector Debt in Spain: Causes and Consequences
Carmen Martinez-Carrascal

Part Four. Cross-border Dimension: Supervisory Coordination Between Bank Supervisors

20. Cross-Border Supervisory Cooperation
Karin Zartl

21. The Role of Cross-border Supervisory Coordination when Dealing with Rapid Credit Growth in Emerging Countries— Home Country Perspective
Linda Goor

22. Home and Host Supervisors’ Relations— A Host Supervisor’s Perspective
Piotr Bednarski, Dariusz Starnowski

Part Five. Concluding Remarks

23. Lessons from Country Experiences with Rapid Credit Growth, and Policy Implications
Charles Enoch, İnci Ötker-Robe

Nyckelord: Economics, Macroeconomics/Monetary Economics//Financial Economics, Banking