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Determinants of Foreign Currency Loans in CESEE Countries: A Meta-Analysis

Wirtschaftswissenschaften

Autoren:
Fidrmuc, Jarko, Crespo Cuaresma, Jesús, Hake, Mariya
Titel:
Determinants of Foreign Currency Loans in CESEE Countries: A Meta-Analysis
Kurzzitat:
Fidrmuc, Jarko, Crespo Cuaresma, Jesús, Hake, Mariya: Determinants of Foreign Currency Loans in CESEE Countries: A Meta-Analysis, Oesterreichische Nationalbank - Focus on European Integration, 2011 (Q4/11): 69-87.
Publikationstyp:
Originalarbeiten in wissenschaftlichen Fachzeitschriften
Abstract:
In this paper, we analyze the growing literature on determinants of foreign currency loans in the countries of Central, Eastern and Southeastern Europe (CESEE), applying a metaregression approach. We consider the seven most common determinants presented in the literature and aim at obtaining a more clear-cut picture behind various effects related to differences in methods and data characteristics. In our meta-analysis we apply two alternative estimation methods and identify exchange rate volatility, foreign currency deposits and the minimum variance portfolio (i.e. the ratio of inflation volatility to real exchange rate volatility) as the most robust determinants of foreign currency loans. Our findings indicate that the results reported in the literature are systematically influenced by model specification, the econometric methodology applied and the country samples included in the papers.
Kontakt:
Zeppelin-Lehrstuhl für Internationale Wirtschaftstheorie & -politik (eingerichtet 05 / 2011)

Am Seemooser Horn 20
88045 Friedrichshafen

Tel: +49 7541 6009-1241
Fax: +49 7541 6009-1299
Email: jarko.fidrmuc@zu.de
http://www.zeppelin-university.de/deutsch/lehrstuehle/internationales_management/internationales_management_profil.php
Forschungsbericht der Abteilung für das Jahr 2011