Financial Sector Development in Southeast Europe — The Roles of EU Accession and Basel II

  • Evan Kraft


Capital Requirement Deposit Insurance Foreign Bank Banking Supervision Financial Service Authority 


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. Avery, Robert and Allen Berger (1991): “Risk-Based Capital and Deposit Insurance Reform,” Journal of Banking and Finance 15, pp. 847–874.CrossRefGoogle Scholar
  2. Barth, James, Gerard Caprio, and Ross Levine (2001): “Bank Regulation and Supervision: What Works Best?” World Bank Policy Research Working Paper 2725.Google Scholar
  3. Basel Committee on Banking Supervision (1997): “Core Principles for Effective Banking Supervision,” Basel Committee Publications Number 30, Basel, September.Google Scholar
  4. Basel Committee on Banking Supervision (2001): “The New Basel Capital Accord: Consultative Document,” Basel, January.Google Scholar
  5. Basel Committee on Banking Supervision (2003): “Consultative Document: Overview of the New Basel Capital Accord,” Basel, April.Google Scholar
  6. Berger, Allen, Richard Herring and Giorgio Szego (1995): “The Role of Capital in Financial Institutions,” Journal of Banking and Finance 19, pp. 393–430.CrossRefGoogle Scholar
  7. Berger, Allen, Anthony Saunders, J.M. Scalise and Gregory Udell (1998): “The Effect of Bank Mergers on Small Business Lending,” Journal of Financial Economics 50,2, pp. 187–229.CrossRefGoogle Scholar
  8. Berger, Allen, Leora Klapper and Gregory Udell (2001): “The Ability of Banks to Lend to Informationally Opaque Small Businesses,” Journal of Banking and Finance 25,12, pp. 2127–67.CrossRefGoogle Scholar
  9. Berger, Allen and Gregory Udell (2002): “Small Business Credit Availability and Relationship Lending: The Importance of Bank Organizational Structure,” Economic Journal Volume 112, pp. 32–53.CrossRefGoogle Scholar
  10. Berger, Allen, Iftekhar Hasan and Leora Klapper (2003): “Further Evidence on the Link Between Finance and Growth: An International Analysis of Community Banking and Economic Performance,” SSRN Financial Economics Network, July.Google Scholar
  11. Berglof, Erik and Patrick Bolton (2002): “The Great Divide and Beyond: Financial Architecture in Transition,” Journal of Economic Perspectives 16,1, pp. 77–100.CrossRefGoogle Scholar
  12. Bernanke, Ben and Cara Lown (1991): “The Credit Crunch,” The Brookings Papers on Economic Activity 2, pp. 205–239.Google Scholar
  13. Boot, Arnoud and Anjan Thakor (1993): “Self-interested Bank Regulation,” American Economic Review May, pp. 206–212.Google Scholar
  14. Briault, Clive (2002): “Revisiting the Rationale for a Single National Financial Services Regulator,” Financial Services Authority Occasional Paper Series 16, London.Google Scholar
  15. Caprio, Gerard and Daniela Klingebiel (1997): “Bank Insolvency: Bad Luck, Bad Policy or Bad Banking,” Annual Bank Conference on Developing Economies, Washington: The World Bank, pp. 79–114.Google Scholar
  16. Carpenter, Seth, William Whitesell and Egon Zakrajšek (2001): “Capital Requirements, Business Loans and Business Cycles: An Empirical Analysis of the Standardized Approach in the New Basel Capital Accord,” Board of Governors of the Federal Reserve, mimeo. Washington.Google Scholar
  17. Catarineu-Rabell, Eva, Patricia Jackson and Dimitrios Tsomocos (2003): “Procyclicality and the New Basel Accord—banks' choice of loan rating system,” Bank of England Working Paper 181.Google Scholar
  18. Clarke, George, Robert Cull and Maria Soledad Martinez Peria (2001): “Does Foreign Bank Penetration Reduce Access to Credit in Developing Countries? Evidence From Asking Borrowers,” World Bank, mimeo. Washington.Google Scholar
  19. Cukierman, Alexander, Geoffrey Miller and Billin Neyapti, “Central Bank Reform, Liberalization and Inflation in Transition Economies — An International Perspective,” Tel Aviv Foerder Institute for Economic Research and Sackler Institute for Economic Research Working Paper 00/19.Google Scholar
  20. Demirgüç-Kunt, Ası and Vojislav Maksimovic (1998): “Law, Finance and Firm Growth,” Journal of Finance 53, pp. 2107–2137.Google Scholar
  21. Demirgüç-Kunt, Ası and Enrica Detragiache (2000): “Does Deposit Insurance Increase Banking System Stability? An Empirical Investigation,” World Bank Conference on Deposit Insurance: Design and Implementation, Washington, June.Google Scholar
  22. Eichengreen, Barry and Carlos Arteta (2000): “Banking Crisis in Emerging Markets: Risks and Red Herrings,” in Mario Blejer and Marko Škreb, eds. Financial Policies in Emerging Markets Cambridge MA, MIT Press, pp. 47–94.Google Scholar
  23. Fernandez de Lis, Santiago, Jorge Martinez Pages and Jesus Saurina (2000): “Credit Growth, Problem Loans and Credit Risk Provisioning in Spain,” Banco de Espana, Servicio de Estudios Documento de Trabajo no. 0018. Madrid.Google Scholar
  24. Galindo, Arturo (2001): “Creditor Rights and Credit Market: Where Do We Stand?” IADB Working Paper 448. Washington: Inter-American Development Bank.Google Scholar
  25. Garcia, Gillian (1999): “Deposit Insurance: A Survey of Actual and Best Practices,” IMF Working Paper WP/99/54. Washington.Google Scholar
  26. Gavin, Michael and Ricardo Hausman (1996): “The Roots of Banking Crises: the Macroeconomic Context,” in Ricardo Hausmann and Liliana Rojas-Suarez, eds. Banking Crises in Latin America Inter-American Development Bank, Washington 1996 pp. 27–63.Google Scholar
  27. Goodhart, Charles (2000): “The Organisational Structure of Banking Supervision,” Financial Stability Institute Occasional Papers 1, Basle: Bank for International Settlements.Google Scholar
  28. Gourinchas, Pierre-Olivier, Rodrigo Valdés and Oscar Landerretche (2001): “Lending Booms: Latin America and the World,” NBER Working Paper 8249, April. New York.Google Scholar
  29. Hancock, Diane and James Wilcox (1997): “Bank Capital, Non-bank Finance and Real Estate Activity,” Journal of Housing Research 8, pp. 75–105.Google Scholar
  30. Jackson, Patricia et al. (1999): “Capital Requirements and Bank Behavior: The Impact of the Basle Accord,” Basel Committee on Banking Supervision Working Papers Number 1, April.Google Scholar
  31. Jonk, Annet, Jeroen Kremers and Dirk Schoenmaker (2001): “A New Dutch Model,” The Financial Regulator 6,3, December, pp. 35–38.Google Scholar
  32. Kaminski, Bartolmiej and Manuel de la Rocha (2003): “Stabilization and Association Process in the Balkans: Integration Options and their Assessment,” World Bank Policy Research Paper 3108, August. Washington.Google Scholar
  33. Kim, Daesik and Anthony Santomero (1988): “Risk in Banking and Capital Regulation,” Journal of Finance 43,5, pp. 1219–1233.Google Scholar
  34. Koehn, Michael and Anthony Santomero (1980): “Regulation of Bank Capital and Portfolio Risk,” Journal of Finance 35,5, pp. 1235–1244.Google Scholar
  35. Kraft, Evan and Ljubinko Jankov (2004): “Lending Booms, Foreign Bank Entry and Competition in Croatia,” Journal of Banking and Finance forthcoming.Google Scholar
  36. Laeven, Luc and Giovanni Majnoni (2003): “Does Judicial Efficiency Lower the Cost of Credit?” World Bank Policy Research Working Paper 3159, October. Washington DC.Google Scholar
  37. LaPorta, Rafael, Florencio López-de-Silanes, Andrei Shleifer and Robert Vishny (1997): “Legal Determinants of External Finance,” Journal of Finance 52, pp. 1131–1150.Google Scholar
  38. Levine, Ross, Norman Loayza and Thorstein Beck (2000): “Financial Intermediation and Growth: Causality and Causes.” Journal of Monetary Economics 46, pp. 31–77.CrossRefGoogle Scholar
  39. Lindgren, Carl, Gillian Garcia and Matthew I. Saal (1996): Bank Soundness and Macroeconomic Policy Washington: International Monetary Fund. Washington.Google Scholar
  40. Mann, Fiona and Ian Michael (2002): “Dynamic Provisioning: Issues and Application,” Bank of England Financial Stability Review, December pp. 128–135.Google Scholar
  41. Mehl, Arnaud and Winkler, Adalbert (2004): “The Financial Sector and Economic Development: evidence from Southeast Europe,” in Ingrid Matthäus-Maier and J.D. von Pischke, eds., The Development of the Financial Sector in Southeast Europe: Innovative Approaches in Volatile Environments. Berlin: Springer.Google Scholar
  42. Nenovsky, Nikolay and Kalina Dmitrova (2003): “Deposit Insurance During EU Accession,” William Davidson Institute Working Papers Number 617, October. Ann Arbor MI.Google Scholar
  43. Niinimaka, Juha-Pekka (2001): “Should New or Rapidly Growing Banks Have More Equity?” Bank of Finland Discussion Papers 16. Helsinki.Google Scholar
  44. Peek, Joe and Eric Rosengren (1997): “The International Transmission of Financial Shocks: The Case of Japan,” American Economic Review September, 87, pp. 495–505.Google Scholar
  45. Peek, Joe and Eric Rosengren (1998): “Bank Consolidation and Small Business Lending: It's Not Just Bank Size That Matters,” Journal of Banking and Finance 22, pp. 799–819.CrossRefGoogle Scholar
  46. Peek, Joe and Eric Rosengren (2000): “Collateral Damage: Effects of the Japanese Real Estate Collapse on Credit Availability and Real Activity in the United States,” American Economic Review 90, pp. 30–45.Google Scholar
  47. Rochet, Jean-Charles (1992): “Capital Requirements and the Behavior of Commercial Banks,” European Economic Review 36, pp. 1137–1178.CrossRefGoogle Scholar
  48. Strahan, Philip and James Weston (1998): “Small Business Lending and the Changing Structure of the Banking Industry,” Journal of Banking and Finance 22, pp. 821–845.Google Scholar
  49. Svoronos, Jean-Phillipe (2003): “The New Basel Capital Accord: Using the Standardized Approach,” presentation to FSI/BSCEE Workshop on Basel II, Zagreb, Croatia, May.Google Scholar
  50. Taylor, Michael and Alex Fleming (1999): “Integrated Financial Supervision: Lessons of Northern European Experience,” World Bank Policy Research Paper 2223, November. Washington.Google Scholar
  51. Thimann, Christian, ed. (2002): Financial Sectors in EU Accession Countries European Central Bank, Frankfurt, July.Google Scholar
  52. Tison, Michel (2003): “Challenging the Prudential Supervisor: Liability versus Regulatory Immunity,” Universiteit Gent, Financial Law Institute Working Paper WP 2003-04. Ghent.Google Scholar
  53. United States General Accounting Office (1985): The Net Worth Certificate Program and The Condition of the Thrift Industry, Washington: General Accounting Office.Google Scholar
  54. Vives, Xavier (2001): “Restructuring Financial Regulation in the European Monetary Union,” Journal of Financial Services Research 19,1 pp. 57–82.CrossRefGoogle Scholar
  55. Wachtel, Paul (2001): “Growth and Finance — What Do We Know and How Do We Know It?” International Finance 4, pp. 335–362.Google Scholar
  56. Ward, Jonathan (2002): “The New Basel Accord and Developing Countries: Problems and Alternatives,” ESRC Centre for Business Research, Cambridge University, Working Paper 04.Google Scholar

Copyright information

© Springer Berlin · Heidelberg 2005

Authors and Affiliations

  • Evan Kraft
    • 1
  1. 1.Croatian National BankCroatia

Personalised recommendations