This article explores the interrelationship between bank governance and financial stability in general and in the ten Central, Eastern and Southeastern European EU Member States (CESEE MS) in particular. Agency theory is used to illustrate that banks are engaged in multiple agency relationships....

During the boom years in the run-up to the global financial and economic crisis, Greece established close economic ties with the Southeastern European (SEE) region. As a consequence, the current Greek sovereign debt crisis could potentially have adverse economic implications for SEE. Both real...

After a long-lasting boom period, the global crisis put the resilience of Croatia’s economic and financial system to a severe test. The country has mastered this test so far. To some extent, the crisis also altered the country’s macrofinancial risk profile, although – against the backdrop...

The Croatian banking sector underwent sweeping structural changes in the late 1990s and has remained relatively stable and profitable since then. Driven by brisk credit growth, financial deepening has continued rapidly in recent years, with the level of bank intermediation now being among the...

This paper examines the impact the global economic and financial crisis had on two distinct emerging market regions, namely Central, Eastern and Southeastern Europe (CESEE) and Latin America. Similar to other emerging economies, both regions were initially surprisingly resilient as the crisis...

After a major structural reshuffling in the early 2000s, the Serbian banking sector embarked on a rapid catching-up process. Against the background of an emerging credit boom, financial deepening has advanced rapidly in recent years, largely making up for the late onset of banking reform....