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Capital Flows and Credit Development: Empirical Evidence from the CEE Region
Izák, Jan ; Geršl, Adam (advisor) ; Kraicová, Lucie (referee)
The aim of this bachelor thesis is to investigate the relationship between the structure of international capital flows and credit development in Central and Eastern Europe. Over last twenty years, the CEE region has often been a destination for capital flows from developed countries which have significantly influenced domestic economies. With respect to the rapid growth of credit over the same period, it makes sense to deal with this relationship in more detail. The data are analyzed separately for corporations and households as they experienced different credit development. In the analysis, I apply OLS and PCSE model on the quarterly data in the period 1997-2013. The results of the analysis imply the influence of FDI and OI inflows in both sectors but only negligible impact of PI inflows. However, the importance of FDI inflows have decreased over time. Powered by TCPDF (www.tcpdf.org)

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4 Izák, Josef
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