THE ASSESSMENT OF THE LOAN MARKET EQUILIBRIUM LEVEL: THE CASE OF LITHUANIA
Journal Title: Ekonomika ir Vadyba: Aktualijos ir Perspektyvos - Year 2013, Vol 32, Issue 4
Abstract
The analysis of the scientific publications investigating the loan market equilibrium level and the build-up credit booms in different countries revealed that these issues in Lithuanian context were analyzed very seldom. Scientists Bunda and Ca’ Zorzi (2010) analyzed the build-up of credit boom in Lithuania and other countries during the period of 1980-2008, Ertuganova (2010) analyzed Baltic countries during 2000-2009 and Dell’Ariccia et al. (2012) have also investigated the period similar as Ertuganova (2010). Despite the fact that these scientists have analyzed the loan market equilibrium level in Lithuania during very similar period of time, however, the results are diverse: Bunda and Ca’ Zorzi (2010) have identified the credit boom in 1999 and 2005, Ertuganova (2010) – during the period of 2003-2006, and Dell’Ariccia et al. (2012) – in 2007. These diverse results of the loan market equilibrium level in Lithuania researches could be resulted by different data sample and research methodology, however, the heterogeneous results of these empirical studies raise the question about the exact period of credit boom in Lithuania and possibilities to identify the build-up of credit bubble at the early stage. The research object – loan market in Lithuania. The research goal – to analyze the theoretical aspects of the loan market equilibrium level assessment and evaluate the loan market equilibrium level in Lithuania. The research methods: systemic, logical and comparative analysis of scientific literature, analysis of the statistical data, univariate time-series model. Keywords: loan market equilibrium level, credit boom, financial accelerator, financial imbalances.
Authors and Affiliations
Vilma Deltuvaitė
Keywords
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THE ASSESSMENT OF THE LOAN MARKET EQUILIBRIUM LEVEL: THE CASE OF LITHUANIA
The analysis of the scientific publications investigating the loan market equilibrium level and the build-up credit booms in different countries revealed that these issues in Lithuanian context were analyzed very seldom....