The paper discusses the inflows of foreign direct investment into the CEE countries and focuses on analysis of productivity spillovers. An overview of the relevance of foreign firms in the CEE economies is presented. Using firm-level data on manufacturing industries for the period...

This article examines procyclicality of the financial system. The introduction describes the natural and regulatory sources of procyclicality, focusing on the potential procyclical effect of the current Basel II regulatory framework for banks. It also mentions the regulatory tools for mitigating...

This article summarises the CNB’s updated banking sector stress-testing methodology and presents the results of a verification of that methodology. The verification, conducted at the end of 2009, is based on a comparison of the actual values of key banking sector variables – in...

This article sets out to describe and discuss the methodology of selected financial soundness and financial stability indicators, including the attempts to construct an aggregate financial stability indicator. The article also presents to the public for the first time the values of the IMF's...

This article discusses the potential risks to price stability stemming from the influence of foreign direct investment on the economy. The analysis uses corporate data from a unique Deutsche Bundesbank database containing an almost complete sample of German enterprises that invested in the Czech...

This article presents the results of an analysis of data on individual bank loans of non-financial corporations in the Czech Republic taken from the CNB’s Central Register of Credits. It focuses on the question of how firms obtain financing from domestic banks. The results show that the...

This paper presents the results of an analysis of data on individual bank loans of nonfinancial corporations in the Czech Republic taken from the CNB’s Central Credit Register. It focuses on the question of how firms obtain financing from domestic banks. The results show that the vast...

Excessive credit growth is often considered to be an indicator of future problems in the financial sector. This paper examines the issue of how to determine whether the observed level of private sector credit is excessive in the context of the “countercyclical capital bufferâ€, a...