TY - BOOK ID - 138947894 TI - Macroprudential Regulation of Credit Booms and Busts : The Case of Croatia AU - Kraft, Evan AU - Galac, Tomislav PY - 2011 PB - Washington, D.C., The World Bank, DB - UniCat KW - Access to Finance KW - Bankruptcy and Resolution of Financial Distress KW - Banks & Banking Reform KW - Debt Markets KW - Emerging Markets KW - Finance and Financial Sector Development KW - Financial regulation KW - Macro-prudential policies UR - https://www.unicat.be/uniCat?func=search&query=sysid:138947894 AB - Croatia employed macroprudential measures to manage credit growth and capital inflows during the boom years of the 2000s, including reserve requirements on loan growth, a marginal reserve requirement on increases in foreign liabilities, foreign exchange liquidity minima, and elevated capital adequacy ratios. Although quantitative analysis is complicated by substantial overlaps among measures, the econometric results in this paper suggest that the measures were most effective in requiring banks to hold high liquidity and capital buffers, and less effective in slowing credit growth and capital inflows. Larger buffers seem to have helped Croatian banks weather the financial crisis, making the adjustments to capital and liquidity during the crisis smaller. ER -