Metrika članka

  • citati u SCindeksu: [5]
  • citati u CrossRef-u:0
  • citati u Google Scholaru:[=>]
  • posete u poslednjih 30 dana:3
  • preuzimanja u poslednjih 30 dana:2
članak: 9 od 10  
Back povratak na rezultate
2014, vol. 61, br. 2, str. 193-206
jezik rada: engleski
vrsta rada: izvorni naučni članak
objavljeno: 10/05/2015
doi: 10.2298/pan1402193m
Determinants of non-performing loans: The case of Eurozone
(naslov ne postoji na srpskom)
Department of Business Administration, University of Patras, Greece



(ne postoji na srpskom)
The purpose of the present study is to identify the factors affecting the non-performing loans rate (NPL) of Eurozone's banking systems for the period 2000-2008, just before the beginning of the recession. In our days, Eurozone is in the middle of an unprecedented financial crisis, calling into question the soundness of the banking systems of European countries. Looking at both macro-variables (e.g. annual percentage growth rate of gross domestic product, public debt as % of gross domestic product, unemployment) and micro-variables (e.g. loans to deposits ratio, return on assets, return on equity), we investigate which factors determine NPL on aggregate level. Overall, our findings reveal strong correlations between NPL and various macroeconomic (public debt, unemployment, annual percentage growth rate of gross domestic product) and bank-specific (capital adequacy ratio, rate of non­performing loans of the previous year and return on equity) factors.

Ključne reči

Non-performing loans; Bank specific variables; Macroeconomic variables; GMM difference


Abdelkader, B., Taktak, N., Jellouli.Sana (2009) Bank specific, business and institutional environment determinants of nonperforming loans: Evidence from MENA countries. Paper presented at Economic Research Forum 16th Annual Conference, Cairo
Arellano, M., Bond, S. (1991) Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations. Review of Economic Studies, 58(2): 277
Barseghyan, L. (2010) Non-performing loans, prospective bailouts, and Japan's slowdown. Journal of Monetary Economics, 57(7): 873-890
Bercoff, J., Giovanni, J., Franque, G. (2002) Argentinean banks, credit growth and the tequila crisis: A duration analysis. Unpublished
Berger, A.N., DeYoung, R. (1997) Problem loans and cost efficiency in commercial banks. Journal of Banking and Finance, 21(6): 849-870
Boudriga, A., Taktak, N.B., Jellouli, S. (2009) Banking supervision and nonperforming loans: a cross‐country analysis. Journal of Financial Economic Policy, 1(4): 286-318
Brookes, M., Dicks, M., Pradhan, M. (1994) An empirical model of mortgage arrears and repossessions. Economic Modelling, 11(2): 134-144
Cingolani, M. (2013) Finance capitalism: A look at the European financial accounts. Panoeconomicus, vol. 60, br. 3, str. 249-290
Commission European (1997) Credit Institutions and Banking, the Single Market Review Series, Subseries II - Impact on Services. Luxembourg: Office for Official Publications of the European Communities
Cotugno, M., Stefanelli, V., Torluccio, G. (2010) Bank Intermediation Models and Portfolio Default Rates: What’s the Relation?. u: Paper presented at 23rd Australasian Finance and Banking Conference, Sydney
Dash, M.K., Kabra, G. (2010) The determinants of non-performing assets in Indian commercial bank: An econometric study. Middle Eastern Finance and Economics, 7: 94-106
de Bock, R., Demyanets, A.,, R. (2012) Bank Asset Quality in Emerging Markets: Determinants and Spillovers. IMF Working Papers, 12(71): 1
Espinoza, R., Prasad, A. (2010) Nonperforming Loans in the GCC Banking System and their Macroeconomic Effects. IMF Working Papers, 10(224): 1
Fiordelisi, F., Marques-Ibanez, D., Molyneux, P. (2011) Efficiency and risk in European banking. u: European Central Bank Working Paper Series 1211
Fofack, H.L. (2005) Nonperforming Loans In Sub-Saharan Africa : Causal Analysis And Macroeconomic Implications. u: Policy Research Working Papers
Gonzales-Hermosillo, B. (1999) Developing indicators to provide early warnings of banking crises. Finance & Development, June 1999, 36-39
Jeong, S., Jung, H. (2013) Bank wholesale funding and credit procyclicality: Evidence from Korea. Panoeconomicus, vol. 60, br. 5, str. 615-631
Jimenez, G., Saurina, J. (2006) Credit cycles, credit risk, and prudential regulation. International Journal of Central Banking, 2(2), 65-98
Keeton, W.R., Morris, C.S. (1987) Why do banks' loan losses differ?. Federal Reserve Bank of Kansas City Economic Review, 72(5), 3-21
Keeton, W.R. (1999) Does faster loan growth lead to higher loan losses?. Federal Reserve Bank of Kansas City Economic Review, 84(2), 57-75
Louzis, D.P., Vouldis, A.T., Metaxas, V.L. (2010) Macroeconomic and Bank-Specific Determinants of Non-Performing Loans in Greece: A Comparative Study of Mortgage, Business and Consumer Loan Portfolios. u: Bank of Greece Working Paper 118
Manove, M., Padilla, A., Pagano, M. (2001) Collateral versus Project Screening: A Model of Lazy Banks. RAND Journal of Economics, 32(4): 726
Mcgoven, J. (1993) Why bad loans happen to good banks?. Journal of Commercial Lending, 75(6), 44-51
Misra, S.B.M., Dhal, S. (2010) Pro-cyclical management of banks' non-performing loans by the Indian public sector banks.
Nkusu, M. (2011) Nonperforming Loans and Macrofinancial Vulnerabilities in Advanced Economies. IMF Working Papers, 11(161): 1
Panopoulou, M. (2005) Technological change and corporate strategy in the Greek banking industry. Athens: Center of Planning and Economic Research
Rime, B. (2001) Capital requirements and bank behaviour: Empirical evidence for Switzerland. Journal of Banking and Finance, 25(4): 789-805
Rinaldi, L., Sanchis-Arellano, A. (2006) Household debt sustainability, what explains household non-performing loans?: An empirical analysis. European Central Bank, Working Paper Series 570
Salas, V., Saurina, J. (2002) Credit Risk in Two Institutional Regimes: Spanish Commercial and Savings Banks. Journal of Financial Services Research, 22(3): 203-224
Salas, V., Saurina, J. (2003) Deregulation, market power and risk behaviour in Spanish banks. European Economic Review, 47(6): 1061-1075
Santiago, L., Pagés, J.M., Saurina, J. (2000) Credit growth, problem loans and credit risk provisioning in Spain. Banco de Espana, Working Paper 18
Sinkey, J.F., Greenawalt, M.B. (1991) Loan-loss experience and risk-taking behavior at large commercial banks. Journal of Financial Services Research, 5(1): 43-59
Tarron, K., Pasha, S. (2009) The determinants of non-performing loans: An econometric case study of Guyana. Munich Personal RePEc Archive, Paper 53128
Tieman, A.F., Bolt, W. (2004) Banking Competition, Risk, and Regulation. IMF Working Papers, 04(11): 1
Zeng, S. (2012) Bank Non-Performing Loans (NPLS): A Dynamic Model and Analysis in China. Modern Economy, 03(01): 100-110