Banking stability during the economic transformation process in selected countries of the Western Balkans

Kubiszewska, Katarzyna

doi:10.1080/1331677x.2019.1645714

Cited by 4 publications

(2 citation statements)

References 55 publications

(50 reference statements)

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“…The results obtained are in line with the research conducted by Radulescu, Serbanescu & Sinisi (2019) which showed that the impact of domestic investment on GDP growth is weaker than the impact of private and public consumption, and that the correlation between FDI and economic growth is very weak. Another standpoint confirmed was that of Kubiszewska (2019), stating that the banking sector also affects investments, and that the amount of savings is affected by the state of the budget, or rather, debt (Rant, Mrak & Marinch, 2020). The results confirmed Madžar's view (2019)…”

Section: Discussionmentioning

confidence: 99%

Macroeconomic Determinants of Investment in the Balkan Countries

Bjelić

Erić

Kovačević

2021

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This study analyzes the impact of crucial macroeconomic variables on investments for six selected Balkan countries (Croatia, Serbia, Bosnia and Herzegovina, Montenegro, North Macedonia and Albania) in the period from 2005 to 2020. Most of these countries are on the path to European integration, and Croatia has been a member of the EU since 2013. Their development and macroeconomic goals are mostly identical, and one of the main is the requirement of a high level of investment in order to achieve higher growth rates and overcome the development gap in relation to EU countries. The research starts from the hypothesis that the selected factors (independent variables): gross savings, FDI, interest rate, GDP growth and external debt, affect the total investments in the region. To prove this hypothesis, a panel analysis model was applied, that is the panel with a fixed effect as a more relevant model for estimation. The results show that savings and external debt are significant variables, whereby savings have a positive impact on investment, while the impact of public debt is negative. Real interest rates also determine investment, which is shown by their marginal significance and negative numbers. In other words, higher interest rates discourage investment. Finally, the analysis shows that GDP growth is not significant, but the direction is logical and slightly encourages investment. Foreign investments are also an insignificant variable, but they have a positive direction, which explains why the deficit of domestic investments is only partially compensated through the FDI.

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Section: Discussionmentioning

confidence: 99%

Macroeconomic Determinants of Investment in the Balkan Countries

Bjelić

Erić

Kovačević

2021

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“…Our previous study on financial cycles shows they differ across countries and group of countries (developed, developing, transitional). Banking stability is also important determinant in the Minsky's momentum and this is particularly true for transitional economies (Kubiszewska, 2019).…”

Section: Introductionmentioning

confidence: 99%

Generalized Financial Cycle Theory From the Minsky’s Perspective: Uk 1270–2016

Porada-Rochoń

Škare

2020

Journal of Business Economics and Management

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Our study aims to bridge the gap between contemporary studies on financial cycles and the financial instability hypothesis in the form of a Minsky cycle (Minsky, 1963). Paper contribution range from explored causality links (financial cycles cause business cycles) to the empirical estimation of the Minsky moment. We use Braitung and Candelon (2006) Granger causality test and discrete threshold model (Hansen, 2005) to the link between financial and business cycles in the UK from 1270–2016. Financial and business cycles relation varies over time with contemporary financial cycles being longer to their historical versions. Financial cycles lead business cycles. Business cycles are an economy reaction to them and change in the Minsky moment. Minsky moment has a statistically significant impact on main growth determinants – population, export, technology. Policymakers should look for the Minsky moment when setting up a new economic policy to assure it will be an effective one.

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Globalization in The Banking Sector of The Western Balkans: A Panel Data Review

Spaho,

Mani

2024

RGSA

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Introduction: The current paper will provide an overview of the influence of economic globalization and the transnational structure of the banking sector in the Western Balkans (WB), a region where banks play a crucial economic and social role. Method: The methodology employed incorporates regressive panel data derived from secondary data acquired between 2019 and 2024. Results: The findings revealed that of the five commercial banks (n=5) experiencing a cross-border profile, the most powerful in terms of total assets, loans, and financial credibility were those with European Union (EU) investments rather than domestic institutions. Conclusions: Given the current outcomes, it is recommended that policy and monetary practices prioritize enhancing attempts to attract foreign investment while simultaneously strengthening domestic banking capacities to become increasingly competitive and interconnected.

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Banking stability during the economic transformation process in selected countries of the Western Balkans

Cited by 4 publications

References 55 publications

Macroeconomic Determinants of Investment in the Balkan Countries

Macroeconomic Determinants of Investment in the Balkan Countries

Generalized Financial Cycle Theory From the Minsky’s Perspective: Uk 1270–2016

Globalization in The Banking Sector of The Western Balkans: A Panel Data Review

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