Reflection of the global financial crisis on the banking sector in Bulgaria
Journal Title: VUZF - Year 2018, Vol 1, Issue 2
Abstract
The country's financial system has encountered the problems posed by the global economic crisis, albeit with some delay and at a much later stage. This is due to Bulgaria’s economic backwardness and limited integration into the global economy. Globally, the main culprits for the emergence of the crisis were investment banks. However, in Bulgaria such institutions are missing, and the banking sector constitutes entirely of commercial banks, which receive their income mainly from lending. Under these circumstances, the impact of the crisis on the banking sector in the country is different from the impact that European banks had to deal with.
Authors and Affiliations
Kiril Dimitrov
Keywords
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