Financial Vulnerability in the Central and Eastern European Countries

GATE Working Paper No. 09-07

32 Pages Posted: 17 May 2009 Last revised: 15 Apr 2011

Irène Andreou

University of Lyon 2 - Groupe d'Analyse et de Théorie Economique (GATE)

Aleksandra Zdzienicka

University of Lyon 2 - Groupe d'Analyse et de Théorie Economique (GATE)

Date Written: April 1, 2009

Abstract

In this work we use a panel probit model to analyze the sources of financial vulnerability in four Central and Eastern European countries. The incontestable advantages of applying this method, associated with some elements of the non-parametric approach applied during the initial selection of the used indicators, allow us to accomplish, rather well, this objective. Indeed, the model performs considerably well in the sample and the whole approach can provide useful and supportive instruments for the study of financial vulnerabilities in transition economies.

Keywords: Financial Vulnerability, Panel Probit Model, CEECs

JEL Classification: C35, F31, F32

Suggested Citation

Andreou, Irène and Zdzienicka, Aleksandra, Financial Vulnerability in the Central and Eastern European Countries (April 1, 2009). GATE Working Paper No. 09-07. Available at SSRN: https://ssrn.com/abstract=1405295 or http://dx.doi.org/10.2139/ssrn.1405295

Irène Andreou (Contact Author)

University of Lyon 2 - Groupe d'Analyse et de Théorie Economique (GATE) ( email )

93, chemin des Mouilles
Ecully, 69130
France

Aleksandra Zdzienicka

University of Lyon 2 - Groupe d'Analyse et de Théorie Economique (GATE) ( email )

93, chemin des Mouilles
Ecully, 69130
France

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