Risks and Returns: Managing Financial Trade-Offs for Inclusive Growth in Europe and Central Asia (Europe and Central Asia Studies) by David Michael Gould
English | Jan. 27, 2017 | ISBN: 1464809674 | 295 Pages | PDF | 7 MB
During the 1990s, Emerging Europe and Central Asia (ECA) chose a model of rapid financial development emphasizing bank credit expansion often funded by foreign capital. Although boosting financial inclusion of firms and households, the model was accompanied by lower efficiency and increased financial vulnerability. After two waves of crises, in the late 1990s and after 2008, ECA’s banking systems again face major stress.