Artikel
Maastricht criteria targeting and credit growth: Empirical evidences for the new EU member states
The study aims to investigate the impact of credit growth on the Maastricht criteria targeting process in the new member states of the European Union. The methodological framework is based on a two-compenent transmission mechanism represented by the output gap and the nonperforming loans. The empirical analysis consists of a set of simplified econometric models, built by panel estimates using annual data from 2000 to 2011. Statistical results revealed the existence of a reaction of long term interest rates to the developments in sovereign risk premium, determined, in turn, by the impact of the mutual reinforcing between lending rate and output gap on the loan portfolio quality dynamics. Strengthening prudential conduct of monetary policy with a conservative macro-prudential policy is a critical need for increased resilience of nominal convergence to exogenous shocks, given that containing the volatility of economic activity depends in a decisive way, on succeding to maintain credit growth levels close to economic growth potential.
- Language
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Englisch
- Bibliographic citation
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Journal: Romanian Journal of Fiscal Policy (RJFP) ; ISSN: 2069-0983 ; Volume: 3 ; Year: 2012 ; Issue: 2 ; Pages: 58-67 ; Bucharest: Editura ASE
- Classification
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Wirtschaft
Financial Crises
Financial Forecasting and Simulation
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
Bankruptcy; Liquidation
- Subject
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Maastricht criteria
Lending to private sector
Output gap
Nonperforming loans
Primary budget balance
- Event
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Geistige Schöpfung
- (who)
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Moinescu, Bogdan Gabriel
- Event
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Veröffentlichung
- (who)
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Editura ASE
- (where)
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Bucharest
- (when)
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2012
- Handle
- Last update
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10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Moinescu, Bogdan Gabriel
- Editura ASE
Time of origin
- 2012
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Strategie Lessons from the Maastricht Criteria
Strategie Lessons from the Maastricht Criteria
Maastricht II: Are real convergence criteria needed?
Financial distress and information sharing: Evidences from the Italian credit register
Euro adoption and Maastricht criteria: Rules or discretion?
Evaluation criteria for institutional credit projects
Fulfillment of Maastricht Convergence Criteria and the acceding countries
Tumbling giant: Germany's experience with the Maastricht fiscal criteria
The Maastricht criteria and the euro: Has the convergence continued?
The export credit financing systems in OECD member countries
[The] export credit financing systems : in OECD member countries
Maastricht criteria versus stability pact
Strategie Lessons from the Maastricht Criteria
Strategie Lessons from the Maastricht Criteria
Maastricht II: Are real convergence criteria needed?
Financial distress and information sharing: Evidences from the Italian credit register
Euro adoption and Maastricht criteria: Rules or discretion?
Evaluation criteria for institutional credit projects
Fulfillment of Maastricht Convergence Criteria and the acceding countries
Tumbling giant: Germany's experience with the Maastricht fiscal criteria
The Maastricht criteria and the euro: Has the convergence continued?
The export credit financing systems in OECD member countries