• citations in SCIndeks: [3]
  • citations in CrossRef:[5]
  • citations in Google Scholar:[]
  • visits in previous 30 days:4
  • full-text downloads in 30 days:3


article: 2 from 4  
Back back to result list
2019, vol. 65, iss. 4, pp. 21-30
Analysis and impact of main macro and microeconomic factors on the growth of NPLs in the emerging financial markets
aUniversity of Business Academy in Novi Sad, Faculty of Applied Management, Economics and Finance, Belgrade, Serbia
bInstitute of Agricultural Economics, Belgrade, Serbia,
Keywords: loans; Gross Domestic Product (GDP); unemployment rates; inflation rates; Return on Assets (ROA) and Return on Equity (ROE)
Starting from contemporary theoretical and practical knowledge in the field of banking and contemporary financial theory, this paper investigates the impact of major macroeconomic and microeconomic factors on the growth rate of nonperforming loans. The theoretical views expressed have been tested in the financial markets of developing Western Balkan countries; Serbia, Montenegro and Bosnia and Herzegovina. The survey period covered the period 2000 to 2015.
*** Program ekonomskih reformi za Crnu Goru 2017-2019. str. 20
Berber, N., i dr. (2019) A survey on relationship between leadership styles and leadership outcomes in the banking sector in Serbia. Acta Polytechnica Hungarica, 16(7): 167-184
Central Bank of Montenegro (2016) Monetary developments. in: Macroeconomic Report 2016, pp. 52
Cvejić, A. (2016) Effects of nonperforming placements on equity and capital adequacy of commercial banks. Belgrade: Andrejević Endowment, pp. 13-19
Ercegovac, D., Vlaović-Begović, S., Jovin, S. (2019) Analiza ključnih pokazatelja bankarskog sektora Republike Srbije. Anali Ekonomskog fakulteta u Subotici, br. 41, str. 81-94
García-Marco, T., Robles-Fernández, M. D. (2007) Risk-taking behaviour and ownership in the banking industry: The Spanish evidence. Journal of Economics and Business, 60(4): 332-354
Jovovic, J. (2014) Determinants of non-performing loans: Econometric evidence based on 25 countries. London: City University, Master thesis
Kostadinović, I., Radojičić, J. (2017) Bankarski sektor u kontekstu održivog razvoja. Economics of Sustainable Development, vol. 1, br. 2, str. 109-119
Louzis, P. D., Vouldis, A.T., Metaxas, V.L. (2012) Macroeconomic and bank-specific determinants of non-performing loans in Greece: A comparative study of mortgage, business and consumer loan portfolios. Journal of Banking & Finance, 36(4): 1012-1027
Makri, V., Papadatos, K. (2012) How accounting information and macroeconomic environment determine credit risk: Evidence from Greece. International Journal of Economic Sciences and Applied Research, 7(1): 129-143
Makri, V., Tsagkanos, A., Bellas, A. (2014) Determinants of non-performing loans: The case of Eurozone. Panoeconomicus, vol. 61, br. 2, str. 193-206
Mileris, R. (2014) Macroeconomic factors of non-performing loans in commercial banks. Ekonomika, 93(1): 22-39
Muhović (2018) Analysis of the factors of occurrence and movement of the level of nonperforming loans in the financial markets in development. Belgrade: Faculty of Applied Management, Economics and Finance, Doctoral thesis
Muhović, A., Radivojević, N., Brzaković, T. (2018) Empirijsko istraživanje determinanti NPL-a na tržištima u razvoju primenom metode fiksnih efekata - studija slučaja Srbije, Crne Gore i Bosne i Hercegovine. Vojno delo, vol. 70, br. 7, str. 335-344
National Bank of Serbia Methodology for developing IRP and NPL forms 1-5. p. 4, (accessed: 01/09/2018)
National Bank of Serbia (2017) Banking Sector of Serbia 3rd Quarter 2017. p. 15, (accessed on: 01/15/2018)
Nkusu, M. (2011) Nonperforming loans and macrofinancial vulnerabilities in advanced economies. IMF Working Papers, 11(161): 1-1
Popović, K. (2018) Rešavanje problematičnih kredita. Bankarstvo, vol. 47, br. 3, str. 74-87
Radivojevic, N., Jovovic, J. (2017) Examining of determinants of non-performing loans. Prague Economic Papers, 26(3): 300-316
Radivojević, N., Cvijanović, D., Sekulić, D., Pavlović, D., Jović, S., Maksimović, G. (2019) Econometric model of non-performing loans determinants. Physica A: Statistical Mechanics and its Applications, 520: 481-488, April
Simonović, Z., Jeločnik, M., Subić, J. (2013) Tax policy in Serbian agriculture. Ekonomika poljoprivrede, vol. 60, br. 3, str. 637-651
Skarica, B. (2013) Determinants of non-performing loans in Central and Eastern European countries. Working Paper
Stakić, N. (2014) Determinante kretanja nivoa problematičnih kredita u bankarskom sektoru u Srbiji. Bankarstvo, vol. 43, br. 4, str. 122-145
Tabak, B., i dr. (2005) The stability-concentration relationship in the Brazilian banking system. in: The Banco Central do Brazil Working Papers, 145
Vučinić, M. (2015) Financial stability: Comparative analysis: Montenegro, Serbia and the Netherlands. Journal of Central Banking Theory and Practice, 4(1): 63-93
Vučković, B., Veselinović, B., Drobnjaković, M. (2017) Financing of permanent working capital in agriculture. Ekonomika poljoprivrede, vol. 64, br. 3, str. 1065-1080
World Bank, (accessed on: 01/06/2018)
Zipovski, Lj., Kvrgić, G., Vujadin, N. (2013) Credit activities of commercial banks in Serbia: Causes and consequences. International Review, No. 3-4, pp 41-54, Faculty of Business Economics and Entrepreneurship
Živkov, D., Njegić, J., Momčilović, M., Milenković, I. (2016) Exchange rate volatility and uncovered interest rate parity in the European emerging economies. Prague Economic Papers, 25(3): 253-270, pep.562


article language: English
document type: Original Paper
DOI: 10.5937/ekonomika1904021M
published in SCIndeks: 27/01/2020
Creative Commons License 4.0

Related records

No related records