Explaining bank distress in Eastern European transition economies |
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Authors: | Kadri Männasoo David G Mayes |
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Institution: | 1. University of Tartu, Ülikooli 18, Tartu 50090, Estonia;2. University of Auckland, Europe Institute, Level 4, 58 Symonds Street, Private Bag 92019, Auckland, Auckland Mail Centre 1142, New Zealand |
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Abstract: | This paper considers the joint role of macroeconomic, structural and bank-specific factors in explaining the occurrence of banking problems in the nineteen Eastern European transition countries over the last decade. With data at the individual bank level we show, using a discrete time survival model, that all three factors interact in their impact and have a rich dynamic profile, which underlines the highly volatile cycles challenging the stability of banks in this region. A fragile funding basis accompanied by high exposure to market risk in an environment of reforms and macroeconomic disturbances is the typical precursor of bank distress. |
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Keywords: | G21 G33 C41 P20 |
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