The boom-bust cycle in CESEE countries has left a legacy of non-performing loans (NPLs) in the region. In some countries NPLs reach levels comparable to those seen in the wake of earlier financial crises. Although the problem is serious, there are important differences in its gravity across...

This paper argues that contractual savings (assets of pension funds and life insurance companies) contribute to the improvemnet of banks' efficiency, credit, and liquidity risk. The authors use bank level panel data across countries to assess the impact of contractual savings on bank efficiency...

The authors analyze the relationship between the development of contractual savings institutions and banks' efficiency, credit, and liquidity risks. They discuss the potential mechanisms through which the development of contractual savings institutions may affect the banking sector. They show...

The authors study the relationship between the development of contractual savings (assets of pension funds, and life insurance companies) and non-life insurance, and, the development of stock markets (market capitalization and value traded). Their contribution lies in providing time-series...

The authors study the relationship between the development of insurance, and contractual savings, (the assets and portfolio composition of pension funds, and life and non-life insurance companies) and the development of stock markets (market capitalization and value traded). Their contribution...