An investigation of Foreign Currency loans exposure contribution to the soundness of the Financial System
An investigation of Foreign Currency loans exposure contribution to the soundness of the Financial System
diplomová práce (OBHÁJENO)
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Trvalý odkaz
http://hdl.handle.net/20.500.11956/99567Identifikátory
SIS: 191843
Kolekce
- Kvalifikační práce [17123]
Autor
Vedoucí práce
Oponent práce
Jakubík, Petr
Fakulta / součást
Fakulta sociálních věd
Obor
Ekonomie a finance
Katedra / ústav / klinika
Institut ekonomických studií
Datum obhajoby
20. 6. 2018
Nakladatel
Univerzita Karlova, Fakulta sociálních vědJazyk
Angličtina
Známka
Výborně
Klíčová slova (česky)
půjčky v zahraničních měnách, finanční stabilita, systémové riziko, střední EvropaKlíčová slova (anglicky)
FX loans, financial stability, systemic risk, CEE countriesThis thesis investigates the impact of foreign currency lending on financial stability for the case of Balkans, CEE and Balkans and CEE together. Such investigation has been carried out by identifying the impact of foreign currency lending across 3 main channels, which are: 1) households, 2) non-financial corporations, and 3) central government. This thesis was able to prove the foreign currency lending relevance, significance, main impact, and remarkable heterogeneity characterizing the Balkans and CEE samples. With respect to each of the subsamples and the full sample, the results can be summarized in 3 main points. For the case of Balkans, the financial instability has been identified to be transmitted through the household and government channels. Regarding the CEE, the dynamics are completely different as household channel provides mixed evidence, while the non-financial corporation one serves as the main transmission channel. When investigating the full sample, it has been pointed out that the prevailing dynamics reveal the non-financial corporation and government channels as the ones with the largest contribution to financial instability. JEL Classification C33, C36, F34, G20, G21, G32 Keywords Financial stability, foreign currency lending, household, non-financial corporation, central...