• citations in SCIndeks: 0
  • citations in CrossRef:0
  • citations in Google Scholar:[]
  • visits in previous 30 days:6
  • full-text downloads in 30 days:4


article: 10 from 34  
Back back to result list
2014, vol. 8, iss. 1, pp. 331-348
Business performance and sector's dispersion of credit risk in Serbia
Institute of Economic Sciences, Belgrade, Serbia,
European integrations and social and economic changes in Serbian economy on the way to the EU (MESTD - 47009)
Challenges and Prospects of Structural Changes in Serbia: Strategic Directions for Economic Development and Harmonization with EU Requirements (MESTD - 179015)

Credit risk represents a threat not only to financial stability, but also to the slow recovery from the Great Recession in most countries of the world, and especially in Serbia. Previous studies of this problem are usually focused on banking sector, seeking solutions in the area of credit risk management, new prudential measures, more effective monitoring, high Capital Adequacy and multiplied collateral. In this paper we made a step forward from the standard framework, analyzing the correlational and causal relationship of credit risk and business performance of private enterprises, the dominant debtor of domestic banks. We particularly investigate the sectoral dispersion of credit risk, which reflects the business performance and the resistance of each sector to the impacts of the recession. We evaluated the business performance of sectors with the highest share in non-performing loans (NPL) and the highest credit risk indicator (NPL ratio). Shifting the focus of research to relationship between corporate sector and banking sector, allows us to shed light on the fundamental causes of the increasing credit risk. As a result, a real range of the system of credit risk management, that was standardized by pre-crisis Basel II document, and now by the new Basel III Capital Accord, can be evaluated. Finally, we explained the relationship between credit and systemic risk, that shows what kind of danger a high credit risk constitutes in the economy of any country.
*** (2006) Financial Soundness Indicators: Compilation Guide. International Monetary Fund
*** (2010) Basel III: A global regulatory framework for more resilient banks and banking systems. Basel: Committee on Banking Supervision, December
Agencija za privredne registre Republike Srbije (2011) Saopštenje o poslovanju privrede u Republici Srbiji u 2010. godini - uporedni podaci iz finansijskih izveštaja za 2009. i 2010. godinu. Beograd
Barisitz, S. (2011) Non performing loans in CESEE: What do they comprise?. Focus on European Economic Integration, Q4/11, str. 46-68
Basel Committee on Banking Supervision (2000) Principles for the management of credit risk. Basel, Sep
Beck, R., Jakubik, P., Piloiu, A. (2013) Non-performing loans: What matters in addition to the economic cycle?. in: ECB Working Paper No. 1515, European Central Bank
Bordo, M.D., Haubrich, J.G. (2010) Credit crises, money and contractions: An historical view. Journal of Monetary Economics, 57(1): 1-18
Domazet, I., Milivojević, S., Lazić, M. (2013) Reforma penzijskog sistema sa aspekta intenzivnog starenja stanovništva Srbije. Poslovna ekonomija, vol. 7, br. 1, str. 141-156
EBCVI -European Banking Coordination 'Vienna' Initiative (2012) Discussions: Working group on NPLs in Central, Eastern and Southeastern Europe
Glen, J., Mondragon-Velez, C. (2011) Business cycle effects on commercial bank loan portfolio performance in developing economies. International Finance Corporation
International Monetary Fund (2013) Global Financial Stability Report: Old Risks, New Challenges. Washington, DC, April
International Monetary Fund (2013) Republic of Serbia: Selected Issues Paper. IMF Staff Country Reports, 13(207): 1
Klein, N. (2013) Non-Performing Loans in CESEE: Determinants and Impact on Macroeconomic Performance. IMF Working Papers, 13(72): 1
Landier, A., Ueda, K. (2009) The Economics of Bank Restructuring: Understanding the Options. International Monetary Fund
Laryea, T. (2010) Approaches to Corporate Debt Restructuring in the Wake of Financial Crises. in: IMF Staff Position Note, SPN/10/02, International Monetary Fund
Mencinger, J. (2012) Europe 2020: A new strategic fantasy?. Ekonomika preduzeća, vol. 60, br. 5-6, str. 217-228
NBS -Narodna banka Srbije (2013) Bankarski sektor Srbije, 2008-2013 kvartalni izveštaji
Schäfer, D., Zimmermann, K.F. (2009) Bad bank(s) and the recapitalisation of the banking sector. Intereconomics, 44(4): 215-225
Vuković, V. (2011) Banking sector: Comparative analysis Serbia vs EU member states. in: Serbia and the European Union: economic lessons from the new Member states, Coimbra: Faculty of Economics, str. 282-296
Vuković, V., Domazet, I. (2013) Non-performing loans and systemic risk: Comparative analysis of Serbia and countries in transition CESEE. Industrija, vol. 41, br. 4, str. 59-73


article language: Serbian
document type: Review Paper
DOI: 10.5937/PosEko1401331V
published in SCIndeks: 17/05/2015

Related records

No related records