Financial Comparison of Western Balkan and Baltic Sea States Using the Camel Approach

• Autorzy: Katarzyna Kubiszewska

Warianty tytułu

Porównanie sytuacji w sektorach bankowych w regionie Bałkanów Zachodnich i krajów bałtyckich przy wykorzystaniu systemu CAMEL

• Języki publikacji: EN

Abstrakty

EN

This article aims to compare the situation in the banking sectors of two regions that have much in common due to their political and economic history: the Western Balkan states of Serbia, Croatia, and Macedonia and the Baltic Sea states of Lithuania, Estonia, and Latvia. It presents three approaches to defining banking stability that can be found in literature and carries out a preliminary analysis of the financial performance of the discussed banking sectors using the CAMEL approach. Although in 2010 the banking sectors of the Baltic Sea states were in a worse shape than the banking sectors of the Western Balkan states, it has been proved that the banking sectors in countries in which the process of economic transformation has been completed could recover from a crisis faster than states that are still undergoing this process. Economic transformation is essential for the further development of the market economy and the sooner it is completed, the sooner the banking sector can develop and the easier it will be to recover from a crisis or an external shock.(original abstract)

Celem artykułu jest porównanie sytuacji sektorów bankowych w dwóch regionach, które ze względu na doświadczenia polityczne i gospodarcze mają wiele wspólnych cech: Serbii, Chorwacji i Macedonii w regionie Bałkanów Zachodnich oraz Litwie, Łotwie i Estonii w regionie nadbałtyckim. Opierając się na literaturze, zaprezentowano trzykierunkowe podejście do definiowania stabilności sektora bankowego. Przy użyciu systemu CAMEL przeprowadzono również wstępną analizę sytuacji finansowej wybranych sektorów bankowych. Mimo iż w 2010 roku sytuacja w sektorach bankowych państw bałtyckich była gorsza niż w sektorach bankowych państw Bałkanów Zachodnich, udowodniono, że sektory bankowe w krajach, w których proces transformacji gospodarczej dobiegł końca, mogłyby szybciej wyjść z kryzysu w porównaniu do państwami, które są jeszcze w trakcie tego procesu. Transformacja gospodarcza ma zasadnicze znaczenie dla dalszego budowania gospodarki rynkowej, a im szybciej zostanie zakończona, tym szybciej sektor bankowy będzie mógł się rozwinąć i tym łatwiej będzie odbudować pozycję po kryzysie lub wstrząsie zewnętrznym. (abstrakt oryginalny)

Słowa kluczowe

EN

Banking sector; Banking; International comparisons

PL

Sektor bankowy; Bankowość; Porównania międzynarodowe

• Czasopismo: International Business and Global Economy
• Rocznik: 2017
• Numer: nr 36
• Strony: 31--46

Twórcy

autor

Katarzyna Kubiszewska

• Politechnika Gdańska

Bibliografia

• Acharya V.V., Drechsler I., Schnabl P., 2014, A pyrrhic victory? Bank bailouts and sovereign credit risk, Journal of Finance, no. 6.
• Allen F., Gale D., 2000, Financial contagion, Journal of Political Economy, no. 1.
• Allen W., Wood G., 2006, Defining and achieving financial stability, Journal of Financial Stability, no. 2.
• Bałtowski M., Miszewski M., 2006, Transformacja gospodarcza w Polsce, Wydawnictwo Naukowe PWN, Warszawa.
• Barker D., Holdsworth D., 1993, The causes of bank failures in the 1980s, Federal Reserve Bank of New York, Research Paper no. 9325.
• Barr R., 2002, Evaluating the productive efficiency and performance of U.S. commercial banks, Engineering Management, no. 8.
• Bartlett W., Monastiriotis V. (eds.), 2010, South Eastern Europe after the economic crisis: A new dawn or back to business as usual?, London School of Economics and Political Science - LSE European Institute, London.
• Bauer P.W., Berger A.N., Ferrier G.D., Humphrey D.B., 1998, Consistency conditions for regulatory analysis of financial institutions: A comparison of frontier efficiency methods, Journal of Economics and Business, no. 50.
• Beck T., Demirguc-Kunt A., Levine R., 2006, Bank concentration, competition, and crises: First results, Journal of Banking Finance, no. 5.
• Berger A.N., Bouwman C.H., 2013, How does capital affect bank performance during financial crises?, Journal of Financial Economy, no. 1.
• Blok Z., 1993, Transformacja systemowa w Polsce. Wybrane problemy, Wydawnictwo Adam Marszałek, Poznań - Toruń.
• Bordo M., Eichengreen B., 1999, Is our current international economic environment unusually crisis prone?, [in:] Capital flows and the international financial system, eds. D. Gruen, L. Gower, Reserve Bank of Australia, Sydney.
• Bretschger L., Kappel V., Werner T., 2012, Market concentration and the likelihood of financial crises, Journal of Banking Finance, no. 12.
• Bromley D.W., 1993, Reconstituting economic systems: Institutions in national development, Development Policy Review, no. 2.
• Chołaj H., 1998, Transformacja systemowa w Polsce. Szkice teoretyczne, Wydawnictwo Uniwersytetu Marii Curie-Skłodowskiej, Lublin.
• Claessens S., Laeven, L., 2003, Financial development, property rights, and growth, Journal of Finance, no. 58.
• Cole R., 2012, How did the financial crisis affect small business lending in the United States?, US Small Business Administration, Technical Report 399.
• Cole A., Pomerleau K., 2015, International tax competitiveness index 2015, Tax Foundation, https://files.taxfoundation.org/legacy/docs/TF_ITCI_2015.pdf [access: 01.10.2017].
• Cox D., Cox M., 2006, The mathematics of banking and finance, John Wiley & Sons, Ltd., New York.
• Crockett A., 1997, Why is financial stability a goal of public policy?, [in:] Maintaining financial stability in a global economy, symposium proceedings, Federal Reserve Bank of Kansas City.
• Davis E.P., 2001, A typology of financial instability, Financial Stability Report no. 2, Oesterreichische Nationalbank.
• Dell'Ariccia G., Detragiache E., Rajan R., 2008, The real effects of banking crises, Journal of Financial Intermediation, no. 7.
• De Jonghe O., 2010, Back to the basics in anking? A micro-analysis of banking system stability, Journal Financial Intermediation, no. 3.
• Djiwandono S., 1998, Banking system soundness and macroeconomic management: The recent Indonesian experience, symposium 'Towards the Restoration of Sound Banking Systems in Japan: Its Global Implication', International Monetary Fund.
• EBRD, [n.d.], European Bank for Reconstruction and Development, online databases.
• EC, 2011, European Commission, Progress Report for Croatia.
• EC, 2014a, European Commission, Progress Report for Macedonia.
• EC, 2014b, European Commission, Progress Report for Serbia.
• EC, 2015a, European Commission, Progress Report for Macedonia.
• EC, 2015b, European Commission, Progress Report for Serbia.
• EC, 2016a, European Commission, Progress Report for Macedonia.
• EC, 2016b, European Commission, Progress Report for Serbia.
• Fernández R.O., Garza-García J.G., 2015, The relationship between bank competition and financial stability: A case study of the Mexican banking industry, Ensayos Revista de Economía, no. 1.
• Fernández A.I., González F., Suárez N., 2013, The real effect of banking crises: Finance or asset allocation effects? Some international evidence, Journal of Banking Finance, no. 37.
• Gemzik-Salwach A., 2013, Wpływ kryzysu finansów publicznych na stabilność sektora bankowego, Nierówności Społeczne a Wzrost Gospodarczy, nr 30.
• Guitian M., 1997, Banking soundness: The other dimension of monetary policy, [in:] Banking Soundness and Monetary Policy, International Monetary Fund.
• Jovanovic M., 1972, Yugoslav Trade With EEC and COMECON Countries, Law and Contemporary Problems, no. 37.
• Kalemli-Ozcan S., Papaioannou E., Perri F., 2013, Global banks and crisis transmission, Journal of International Economy, no. 2.
• King R.G., Levine R., 1993, Finance and growth: Schumpeter might be right, The Quarterly Journal of Economics, no. 3.
• Klyvienë V., Tranberg Rasmussen L., 2010, Causes of financial crisis: The case of Latvia, Ekonomika, no. 2.
• Kroszner R.S., Laeven L., Klingebiel D., 2007, Banking crises, financial dependence and growth, Journal of Financial Economy, no. 84.
• Laeven L., Valencia F., 2013, Systemic banking crises database, IMF Economic Review, no. 2.
• Larrain B., 2006, Do banks affect the level and composition of industrial volatility? Journal of Finance, no. 61.
• Lepetit L., Nys E., Rous P., Tarazi A., 2008, Bank income structure and risk: An empirical analysis of European banks, Journal of Banking Finance, no. 8.
• Levine R., 2005, Finance and growth: Theory and evidence, [in:] Handbook of economic growth, eds. P. Aghion, S. Durlauf, Elsevier Science, Amsterdam.
• Lingren C.J., Garcia G., Saal M., 1996, Banking system and macroeconomic policy, International Monetary Fund, Washington, DC.
• Lucas R.E., 1988, On the mechanics of economic development, Journal of Monetary Economics, no. 1.
• Miles D., Yang J., Marcheggiano G., 2013, Optimal bank capital, Economic Journal, no. 567.
• Mirzaei A., Moore T., Liu G., 2013, Does market structure matter on bank's profitability and stability? Emerging vs. advanced economies, Journal of Banking Finance, no. 8.
• Murgasova Z., Ilahi N., Miniane J., Scott A., Vladkova-Hollar I., 2015, The Western Balkans: 15 years of economic transition, International Monetary Fund, Washington, DC.
• Raddatz C., 2006, Liquidity needs and vulnerability to financial underdevelopment, Journal of Financial Economy, no. 80.
• Reinhart C.M., Rogoff K.S., 2009, This time is different: A panoramic view of eight centuries of financial crises, Princeton University Press, Princeton.
• Sanfey P., Milatović J., Krešić A., 2016, How the Western Balkans can catch up, European Bank for Reconstruction and Development, Working Paper No. 185.
• Sen A., Atlay H., 2012, The channels of contagion in the global crisis: The case of the South-Eastern Europe (SEE-7) countries, Journal of Economic and Social Studies, no. 2.
• Smaga P., 2012, Powiązania między sektorem bankowym a kryzysem zadłużeniowym w strefie euro, Bezpieczny Bank, nr 3.
• Staikouras C., Wood G., 2000, Competition and banking stability in the euro area: The cases of Greece and Spain, The Journal of International Banking Regulation, no. 2.
• TRACE International, 2016, TRACE Matrix, https://www.traceinternational.org/trace-matrix [access: 01.10.2017].
• Transparency International, 2016, Corruption Perceptions Index, https://www.transparency. org/news/feature/corruption_perceptions_index_2016 [access: 01.10.2017].
• Vives X., 2010, Competition and stability in banking, IESE Working Paper No. 852.
• Żywiecka H., 2012, Stabilność finansowa jako cel współczesnego banku centralnego, Bezpieczny Bank, nr 3.

Identyfikatory

DOI

10.4467/23539496IB.17.002.7450