Συγκριτική μελέτη των χαρακτηριστικών των μη εξυπηρετούμενων δανείων μεταξύ των χωρών του ευρωπαϊκού βορρά και του ευρωπαϊκού νότου
KeywordsΜη εξυπηρετούμενα δάνεια ; Χαρακτηριστικά ; Σύγκριση ; Ευρωπαϊκός βορράς ; Ευρωπαϊκός νότος ; Non-performing loans ; Determinants ; Comparison ; European north ; European south
This master thesis had two primary goals: the first is to identify the determinants of non-performing loans (NPLs) and second, to compare these determinants across the countries in the European North and the European South. The idea is in relevance to the strong differences across these countries, such as the unemployment rates and deficits and/or surpluses of gross public debt as a percentage of GDP. However, all countries are parts of the European Union, while the majority of them are part of the Eurozone. The determinants of NPL’s are divided in two groups, macroeconomic (GDP growth, unemployment rates, inflation rates) and bank-specific (loan loss provisions, roa, management efficiency, among others). The sample comes with panel data, while the modeling approach is based on the Generalized Method of Moments with random effects methodology. The common factors between the European North and the European South are documented to be GDP growth, gross public debt as a percentage of GDP and management efficiency. The main differences between the two country groups are mostly related to bank-specific variables. The most important bank-specific variables for the European North are loans over assets and net interest margin, whereas the most notable ones for the European South are liquidity, loan loss reserves and loan growth. Finally, the macroeconomic variables that signify such differences across the two groups are in relevance to FDI (for the case of the Northern European countries) and the housing price index and the harmonized consumer price index (for the case of the southern European countries).