The Impact of the Global Crisis on South-Eastern Europe

Bank Funding in Central, Eastern and South Eastern Europe Post Lehman: A 'New Normal'?

“…It is beyond the scope of this paper to discuss the recent sudden stop event of the CESEE region. Useful treatments can be found in Bakker and Klingen (2012),Cocozza et al (2011),Gardó and Martin (2010), and paper there referenced. In addition, IMF (2013) provides a positive analysis of the role of foreign banks and funding in fostering economic growth before and during the crisis, as well as more normative analysis of key structural factors shaping the evolving banking business model in the region.5 External positions of BIS reporting banks measure gross international claims of bank offices in the respective reporting countries, including inter-office positions, on the bank and/or non-bank sectors of host countries.…”