| Abstract [eng] |
The relevance of the research. The endogenous build-up of widespread imbalances in financial systems over time, as in the case of a lending boom and the subsequent (endogenously or exogenously caused) unraveling of the imbalance may adversely affect many intermediaries and/or markets at the same time. De Bandt and Hartmann (2002), De Bandt et al. (2012) also distinguish a number of macroeconomic factors that have a great influence on the systemic risk occurrence in the banking sector: the large-scale macroeconomic shocks and financial imbalances. According to De Bandt et al. (2012), most of banks at the same time may experience financial problems during the economic downturn or wide scale financial market shocks, while the financial imbalances (e.g., credit booms, etc.) are building up over time, while mechanisms existing in financial systems encourage banks to implement similar forms of risk-taking at the same time. The empirical studies by Domaç and Martinez- Peria (2003), Komulainen and Lukkarila (2003), Beck et al. (2006), Čihák (2007), Shehzad and de Haan (2009), Klomp (2010), Corder and Weale (2011) reveal that many banking crises have occurred in conjunction with cyclical downturns or other aggregate shocks, such as interest rate increases, stock market crashes or exchange rate devaluations, therefore, summarizing it can be stated that the banking crises are definitely related to macroeconomic fluctuations and financial imbalances. |
