A QUALITATIVE EXPLORATION OF EUROIZATION AND ITS RISKS AT BANK LEVEL
| Autor: | Xhelili, Albulena, Hashi, Iraj, Toçi, Valentin |
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| Jazyk: | angličtina |
| Rok vydání: | 2016 |
| Předmět: | |
| Zdroj: | Ekonomska misao i praksa Volume 25 Issue 2 |
| ISSN: | 1848-963X 1330-1039 |
| Popis: | Euroization, which is widely considered a defining characteristic of the banking system in transition economies, has been ignored in the qualitative research literature. This paper aims at exploring euroization and its related risks at bank level through a qualitative analysis in two South East European countries. The research was conducted through semi-structured interviews with risk managers of banks in order to gain a better understanding of this phenomenon from a bank’s perspective. The main finding is that macroprudential policy, widely considered a useful response to global financial crisis, is an important determinant of euroization. In addition, the analysis revealed that banks in these countries seem to be concerned with hedging against the risks associated with euroization; however they seem to overly rely on the natural hedging associated with one group of customers, exporters. In terms of the other drivers of euroization the findings of this analysis support the conventional view that deposit euroization and the interest rate differential were the main determinants of credit euroization in these countries. Kvalitativna istraživanja zanemaruju euroizaciju koja se smatra ključnom karakteristikom bankarskog sustava u tranzicijskim zemljama. Cilj je rada istražiti euroizaciju i njezine rizike u bankovnom sustavu kvalitativnom analizom u dvjema zemljama jugoistočne Europe. Istraživanje je provedeno na temelju polustrukturiranog intervjua s upraviteljima rizika u bankama kako bi se dobio bolji uvid u tu pojavu iz perspektive banaka. Ključno je otkriće to da je makroprudencijalna politika, koja se smatra korisnim odgovorom na globalnu financijsku krizu, važna odrednica euroizacije. Analiza je također pokazala da se banke u tim zemljama bave zaštitom od rizika euroizacije. Ipak, čini se da se pretjerano oslanjaju na prirodni hedging povezan s jednom skupinom klijenata, izvoznicima. Glede drugih pokretača euroizacije, rezultati analize podržavaju konvencionalni stav da su euroizacija depozita i razlika kamatne stope glavne odrednice kreditne euroizacije u tim zemljama. |
| Databáze: | OpenAIRE |
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