Arbeitspapier
Households' Foreign Currency Borrowing in Central and Eastern Europe
Foreign currency loans represent an important feature of recent financial developments in CEECs. This might pose a serious challenge for macroeconomic stability. Against this background, the authors study the determinants of foreign currency loans of households, using data on the behavior of households in nine CEECs. Their results reveal that foreign currency loans are driven by households' lack of trust in the stability of the local currency and in domestic financial institutions. Moreover, special factors including remittances and expectations of euro adoption play an important role in selected regions. The financial crisis reduced foreign currency borrowing, but there is some indication this effect might be only temporary.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 171
- Klassifikation
-
Wirtschaft
General Financial Markets: Government Policy and Regulation
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Single Equation Models; Single Variables: Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
- Thema
-
Foreign currency loans
dollarization
euroization
monetary credibility
trust
CEEC
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Fidrmuc, Jarko
Hake, Mariya
Stix, Helmut
- Ereignis
-
Veröffentlichung
- (wer)
-
Oesterreichische Nationalbank (OeNB)
- (wo)
-
Vienna
- (wann)
-
2011
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Fidrmuc, Jarko
- Hake, Mariya
- Stix, Helmut
- Oesterreichische Nationalbank (OeNB)
Entstanden
- 2011
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