118
Views
3
CrossRef citations to date
0
Altmetric
Research Articles

Do capital flows drive credit growth and consumption in Central and Eastern Europe?

Pages 36-51 | Received 21 Nov 2017, Accepted 29 Mar 2018, Published online: 06 Jun 2018

References

  • Allegret, J.-P., & Sallenave, A. (2015). Capital flow bonanzas and monetary policy in emerging Europe: Responses to the global financial crisis. Post-Communist Economies, 27(4), 429–447.10.1080/14631377.2015.1084709
  • Andries, A. M., & Brown, M. (2017). Credit booms and busts in emerging markets: The role of bank governance and risk management. Economics of Transition, 25(3), 377–437.10.1111/ecot.2017.25.issue-3
  • Apostoaie, C.-M., Percic, S., Cocris, V., & Chirles, D. (2014). Research on the credit cycle and business cycle with a focus on ten states from Central, Eastern, and Southeastern Europe. Emerging Markets Finance & Trade, 50(4), 63–77.10.2753/REE1540-496X5004S404
  • Bai, J., & Perron, P. (1998). Estimating and testing linear models with multiple structural changes. Econometrica, 66(1), 47–78.10.2307/2998540
  • Carstensen, K., & Toubal, F. (2004). Foreign direct investment in Central and Eastern European countries: A dynamic panel analysis. Journal of Comparative Economics, 32(1), 3–22.10.1016/j.jce.2003.11.001
  • Comunale, M. (2015). Current account and REER misalignments in Central Eastern EU Countries: An update using the macroeconomic balance approach ( Bank of Finland Institute for Economies in Transition BOFIT Discussion Papers 28), Helsinki.
  • Demekas, D. G., Horvath, B., Ribakova, E., & Wu, Y. (2007). Foreign direct investment in European transition economies – The role of policies. Journal of Comparative Economics, 35(2), 369–386.10.1016/j.jce.2007.03.005
  • Dietrich, D., Knedlik, T., & Lindner, A. (2011). Central and Eastern European countries in the global financial crisis: A typical twin crisis? Post-Communist Economies, 23(4), 415–432.10.1080/14631377.2011.622561
  • Égert, B., Backe, P., & Zumer, T. (2007). Private-sector credit in Central and Eastern Europe: New (over)shooting stars? Comparative Economic Studies, 49(2), 201–231.
  • Gibson, H. D., & Tsakalotos, E. (2004). Capital flows and speculative attacks in prospective EU member states. Economics of Transition, 12(3), 559–586.10.1111/ecot.2004.12.issue-3
  • Gueorguiev, N., Duenwald, C., & Schaechter, A. (2005). Too much of a good thing? Credit booms in transition economies: The cases of Bulgaria, Romania, and Ukraine ( IMF Working Papers: 05/128), Washington.
  • Hegerty, S. W. (2009). Capital inflows, exchange market pressure, and credit growth in four transition economies with fixed exchange rates. Economic Systems, 33(2), 155–167.10.1016/j.ecosys.2009.02.001
  • Hegerty, S. W. (2017). Inflation volatility, monetary policy, and exchange-rate regimes in Central and Eastern Europe: Evidence from parametric and nonparametric analyses. Eastern European Economics, 55(1), 70–90.10.1080/00128775.2016.1253022
  • Hoffmann, A. (2010). An overinvestment cycle in Central and Eastern Europe. Metroeconomica, 61(4), 711–734.10.1111/meca.2010.61.issue-4
  • Laidroo, L., & Männasoo, K. (2014). Perils of excessive credit growth: Evidence from 11 new EU member states. Baltic Journal of Economics, 14(1–2), 17–34.10.1080/1406099X.2014.942541
  • Lane, P. R., & Milesi-Ferretti, G. M. (2007). Capital flows to central and Eastern Europe. Emerging Markets Review, 8(2), 106–123.10.1016/j.ememar.2007.01.004
  • Lane, P. R., & Milesi-Ferretti, G. M. (2010). The cross-country incidence of the global crisis ( IMF Economic Review advance online publication, 23 November 2010).
  • Lane, P. R., & McQuade, P. (2014). Domestic credit growth and international capital flows. Scandinavian Journal of Economics, 116(1), 218–252.10.1111/sjoe.12038
  • Lankes, H.-P., & Venables, A. J. (1996). Foreign direct investment in economic transition: The changing pattern of investments. Economics of Transition, 4(2), 331–347.10.1111/ecot.1996.4.issue-2
  • Park, H. (2014). The comovements of capital inflows in the frequency domain: Evidence from emerging countries. Emerging Markets Finance & Trade, 50(5), 148–158.
  • Pesaran, M. H., & Shin, Y. (1998). Generalised impulse response analysis in linear multivariate models. Economics Letters, 58, 17–29.10.1016/S0165-1765(97)00214-0
  • Phillips, P. C. B., & Perron, P. (1988). Testing for a unit root in time series regression. Biometrika, 75(2), 335–346.10.1093/biomet/75.2.335
  • Sims, C. A. (1980). Macroeconomics and reality. Econometrica, 48, 1–48.10.2307/1912017
  • Staehr, K. (2018). Capital flows and growth dynamics in Central and Eastern Europe. Post-Communist Economies, 30(1), 1–18.10.1080/14631377.2017.1362195
  • Zeileis, A., Leisch, F., Hornik, K., & Kleiber, C. (2002). Strucchange: An R package for testing for structural change in linear regression models. Journal of Statistical Software, 7(2), 1–38.
  • Zeileis, C., Kleiber, W., & Hornik, K. (2003). Testing and dating of structural changes in practice. Computational Statistics & Data Analysis, 44, 109–123.10.1016/S0167-9473(03)00030-6

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.