Naslov
Private Over-indebtedness in Selected Central and Eastern Europe Countries

Autori
Bejaković, Predrag ; Mrnjavac, Željko

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Proceedings of the 8th International Conference "The Economies of Balkan and Eastern Europe Countries in the Changing World" / Karasavvoglou, A. ; Goic, S. ; Polychronidou, P. - Split : Ekonomski fakultet Sveučilišta u Zagrebu, 2017, 20-27

ISBN
978-960-363-065-4

Skup
The 8th International Conference "The Economies of Balkan and Eastern Europe Countries in the Changing World"

Mjesto i datum
Split, Hrvatska, 06.05.2016. - 08.05.2016

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Over-indebtedness ; personal finance ; financial literacy ; Central, Eastern Europe Countries

Sažetak
The private indebtedness comprised of both households’ and non-financial corporations’ debt levels, is a significant factor of social exclusion and it attracts considerable public interest. This is partially caused by insufficient financial literacy of the population but also with an increased demand for new products and services that often exceeds personal financial capabilities of majority of people. A main difference among economies in Central and South East Europe is the housing credit which was facilitated in many of them by state-subsidised financing schemes, denominated in some cases in foreign currencies, particularly Swiss Francs. The article explains the situation and encompasses the selected Central and Eastern Europe Countries where adequate surveys have been performed: Bulgaria, Bosnia and Herzegovina, Croatia, Czech Republic, Hungary and Poland. The robust growth in household debt in pre-crisis period coincided with real growth in household disposable income, large economic expansion and a considerable fall in banks' interest rates. However, household debt indicators deteriorated markedly as total household debt grew faster than income. This raised concerns about potential implications of an additional increase in the debt burden on financial stability. Although there are significant variations between mentioned countries, there are some similar causes and possible solution for amelioration of the situation.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA