Leasing, Credit and Economic Growth: Evidence for Central and South Eastern Europe

Haiss, Peter; Kichler, Elisabeth

doi:10.2139/ssrn.1393162

Cited by 9 publications

(4 citation statements)

References 97 publications

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“…Based on the reviewed econometric books in relation to the applicable econometric models for testing our hypotheses, as well as based on works that have applied models with panel data specifically to analyze the effect of FDI in the six countries of the Western Balkans [18][19][20] or other authors [32][33][34], we will apply Pooled OLS, Fixed Effects, and Random Effects. Then, using functional tests, we will choose which of these three models is most suitable to use for testing our hypotheses.…”

Section: The Modelmentioning

confidence: 99%

The Effects of Foreign Direct Investment in the Insurance Industry in the Western Balkan Countries – A Panel Data Analysis

Berisha,

Sopi

2023

IJSDP

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The insurance industry is a solid cornerstone of the financial system, and by fostering an environment more favorable to investment, it significantly boosts economic growth. This is especially true for the Western Balkan countries, which are currently growing and joining the European Union. Developing countries can benefit from an additional avenue: the internationalization of insurance businesses through the reinsurance process. The aim of this research is to assess the potential impact of Foreign Direct Investment (FDI) on the insurance industry in the region. The research was carried out in six countries: Albania, Bosnia and Herzegovina, Montenegro, North Macedonia, Kosovo, and Serbia. Data from these countries were collected between 2004 and 2021, allowing for an analysis using panel data econometric models, namely the Fixed Effects and Random-Effects models (GLS). The findings of the economic analysis for the three independent variables indicate that FDI inflow positively affects Gross Written Premium (GWP), Insurance Assets (InsAsset), and Penetration Rate (PenetRate) at the α=0.05 significance level. Additionally, the models have demonstrated that the three variables have variations between the countries regarding the impact of FDI inflows using the Lagrange Multiplier (LM) Method -Breusch-Pagan test, at a confidence level of α=0.05. Since the econometric models for the three cases are based on the Random-Effects model (GLS Method), random effects are to blame for the variations in FDI influence between countries. The results have consequences for the insurance industry as well as regional policymakers, especially in Kosovo, who are deciding what measures to take to promote foreign direct investment.

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Section: The Modelmentioning

confidence: 99%

The Effects of Foreign Direct Investment in the Insurance Industry in the Western Balkan Countries – A Panel Data Analysis

Berisha,

Sopi

2023

IJSDP

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“…In addition to studies pertaining to sector application in Turkey, other country experiences are also covered under this heading. Haiss and Kichler (2009) search for the impact of leasing in the lending increase in Central and South Eastern Europe. Their findings show that leasing and credit influences economic growth in a positive direction.…”

Section: Literature Reviewmentioning

confidence: 99%

Alternati̇f Fonlama Yöntemi̇ Olarak Leasing Sektörü: Türki̇ye Fi̇nansal Ki̇ralama Pi̇yasasi Örneği̇

Kayhan

2022

Uluslararası Bankacılık Ekonomi Ve Yönetim Araştırmaları Dergisi

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This paper aims to provide a general assessment of leasing industry with particular reference to financial lease market in Turkey. It is a very well-known fact that apart from the banks, the leading financial institutions that give loans to firms, there exist some other financial institutions that provide funding for the financial needs of the companies. One of these are known to be leasing companies. They enable companies to conduct their business by providing long-term funding for their investment projects. This paper analyses this industry in general and then furnish recent information in regard to the financial lease market in Turkey.

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“…Effects of foreign entry and market concentration on small business lending are also influenced by the domestic country's institutional environment. Many expected benefits of financial consolidation and liberalization are not achievable before institutional development reaches a certain threshold (Beck et al 2004;Volz 2004;Maurer 2008;Haiss and Kichler 2009).…”

Section: Introductionmentioning

confidence: 99%

Small and Medium Enterprise Financing in Transition Economies

2011

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Leasing, Credit and Economic Growth: Evidence for Central and South Eastern Europe

Cited by 9 publications

References 97 publications

The Effects of Foreign Direct Investment in the Insurance Industry in the Western Balkan Countries – A Panel Data Analysis

The Effects of Foreign Direct Investment in the Insurance Industry in the Western Balkan Countries – A Panel Data Analysis

Alternati̇f Fonlama Yöntemi̇ Olarak Leasing Sektörü: Türki̇ye Fi̇nansal Ki̇ralama Pi̇yasasi Örneği̇

Small and Medium Enterprise Financing in Transition Economies

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