Икономическата активност и развитието на банковия сектор в Централна и Източна Европа в условията на съвременните кризисни процеси
Economic Activity and Development of The Banking Sector in Central and Eastern Europe in The Context of Contemporary Crisis Processes

Author(s): Gergana Mihaylova-Borisova, Milena Kovachevich, Darina Koleva, Elena Panayotova, Monika Kirilova
Subject(s): Politics / Political Sciences, Politics, Social Sciences, Economy, Sociology, Economic policy, Economic development, EU-Accession / EU-DEvelopment, Financial Markets
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: economic growth; banking efficiency; banking regulation; financial stability
Summary/Abstract: The world has been gripped by a series of crises over the past two decades - the Global financial crisis in 2008, the European debt crisis in 2012-2013 and the Pandemic crisis in 2020 caused by the spread of the coronavirus. All these crises have an impact on the economic development of countries worldwide, but inevitably also affect banking activities in many of them. The aim of this monograph is to offer an in-depth and logically coherent scientific study on the problems of economic development and the stability, regulation and efficiency of the banking systems of the countries in Central and Eastern Europe (CEE) and to assess the relationship between economic growth and the development of the banking system in these countries, as measured by their technical efficiency. This study covers the CEE countries: Bulgaria Czech Republic, Hungary, Poland, Romania, Estonia, Slovakia, Slovenia, Lithuania and Latvia. The study argues that in order to achieve sustainable and stable levels of economic growth, it is necessary to maintain a stable and well-functioning banking system, which is the main intermediary in the CEE countries. The CEE countries managed to cope with the worsened economic conditions in the aftermath of the global financial crisis of 2007-2008, but got out from it better prepared for the next crises. The banking sector, with its stricter regulations and improved efficiency, remains a key element in the resilience of the economies to the crises.

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