Demand and supply drivers of foreign currency loans in CEECs: A meta-analysis |
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| Affiliation: | 1. Vienna University of Economics and Business, Department of Economics, Austria;2. International Institute for Applied Systems Analysis (IIASA), Austria;3. Austrian Institute of Economic Research (WIFO), Austria;4. Zeppelin University Friedrichshafen, Germany;5. Institute of East and Southeast European Studies (IOS), Regensburg, Germany;6. Institute of Economic Studies (IES), Charles University, Prague, Czech Republic;7. Oesterreichische Nationalbank, Foreign Research Division, Austria;1. Charles University in Prague, Institute of Economic Studies, Opletalova 26, CZ-11000 Prague, Czech Republic;2. Czech National Bank, Na Příkopě 28, CZ-11503 Prague, Czech Republic;3. Joint Vienna Institute, Mariahilfer Strasse 97, 1060 Vienna, Austria;1. Research Laboratory of Nanoporous Materials, Faculty of Chemistry, Iran University of Science and Technology, Farjam Street, Narmak, Tehran 16846, Iran;2. Research Laboratory of Real Samples, Department of Chemistry, Iran University of Science and Technology, Tehran, Iran;1. Department of Analytical Chemistry, Faculty of Chemistry, Urmia University, Urmia, Iran;2. Departamento de Química Analítica, Facultad de Ciencias Bioquímicas y Farmacéuticas, Universidad Nacional de Rosario, Instituto de Química Rosario, Suipacha 531, Rosario 2000, Argentina |
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| Abstract: | ![]()
We present a meta-analysis of the determinants of foreign currency loans in Central and Eastern Europe. We base our inferences on the results of 21 studies that provide around 800 estimated coefficients for seven determinants of foreign currency loan demand. Our results indicate that, on average, supply factors (foreign currency deposits and the minimum variance portfolio ratio) appear to play a more significant role than demand factors (interest rate differentials) of foreign currency loans. Moreover, we show that the estimates reported in the literature tend to be influenced by selected study characteristics such as the econometric methodology and their regional focus. |
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| Keywords: | Foreign currency loans Meta-analysis Publication bias Meta-regression Bayesian model averaging |
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