References
- 1. Akinlo, Olayinka, & Emmanuel, Mofoluwaso. (2014). Determinants of non-performing loans in Nigeria. Accounting and Taxation, 6(2), 21-28.
- 2. Alton, RG, & Hazen, JH. (2001). As economy flounders, do we see a rise in problem loans. Federal Reserve Bank of St. Louis, 11(4).
- 3. Amuakwa–Mensah, Franklin, & Boakye–Adjei, Angela. (2015). Determinants of non–performing loans in Ghana banking industry. International Journal of Computational Economics and Econometrics, 5(1), 35-54. doi: 10.1504/ijcee.2015.06620710.1504/ijcee.2015.066207
- 4. Anjom, Washeka, & Karim, Asif Mahbub. (2016). Relation between non-performing loans and macroeconomic factors with bank specific factors: A case study on loan portfolios-SAARC countries respective. ELK Asia Pacific Journal of Finance and Risk Management, 7(2), 23-52.
- 5. Arellano, Manuel, & Bond, Stephen. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The Review of Economic Studies, 58(2), 277-297.10.2307/2297968
- 6. Arellano, Manuel, & Bover, Olympia. (1995). Another look at the instrumental variable estimation of error-components models. Journal of Econometrics, 68(1), 29-51.10.1016/0304-4076(94)01642-D
- 7. Asamoah, Lawrence Adu. (2015). Determinants of credit risk of commercial banks in Ghana. SSRN Electronic Journal, ssrn.2679100, 1-7.10.2139/ssrn.2679100
- 8. Badar, Munib, & Javid, Atiya Yasmin. (2013). Impact of macroeconomic forces on nonperforming loans: An empirical study of commercial banks in Pakistan. WSEAS Transactions on Business and Economics, 10(1), 40-48.
- 9. Berger, Allen N, & DeYoung, Robert. (1997). Problem loans and cost efficiency in commercial banks. Journal of Banking and Finance, 21(6), 849-870.10.1016/S0378-4266(97)00003-4
- 10. Blundell, Richard, & Bond, Stephen. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1), 115-143.10.1016/S0304-4076(98)00009-8
- 11. Boudriga, Abdelkader, Boulila Taktak, Neila, & Jellouli, Sana. (2009). Banking supervision and nonperforming loans: A cross-country analysis. Journal of Financial Economic Policy, 1(4), 286-318.10.1108/17576380911050043
- 12. Boudriga, Abdelkader, Taktak, Neila Boulila, & Jellouli, Sana. (2010). Bank specific, business and institutional environment determinants of banks nonperforming loans: Evidence from MENA countries. Economic Research Forum, Working Paper No. 547.
- 13. Castro, Vítor. (2013). Macroeconomic determinants of the credit risk in the banking system: The case of the GIPSI. Economic Modelling, 31, 672-683.10.1016/j.econmod.2013.01.027
- 14. Cheng, Ming-Chang, Lee, Chien-Chi, Pham, Quynh Nhu Tran, & Chen, Hui-Yu. (2016). Factors affect NPL in Taiwan banking industry. Journal of Accounting, 6(1), 65-87.
- 15. Chirwa, Ephraim W, & Mlachila, Montfort. (2004). Financial reforms and interest rate spreads in the commercial banking system in Malawi. IMF Staff Papers, 51(1), 96-122.
- 16. Cotugno, Matteo, Stefanelli, Valeria, & Torluccio, Giuseppe. (2010). Bank intermediation models and portfolio default rates: What’s the relation? 23rd Australasian Finance and Banking Conference 2010 doi: http://dx.doi.org/10.2139/ssrn.166288810.2139/ssrn.1662888
- 17. Crouhy, Michel, Galai, Dan, & Mark, Robert. (2000). A comparative analysis of current credit risk models. Journal of Banking & Finance, 24(1), 59-117.10.1016/S0378-4266(99)00053-9
- 18. Dimitrios, Anastasiou, Helen, Louri, & Mike, Tsionas. (2016). Determinants of non-performing loans: Evidence from Euro-area countries. Finance Research Letters, 18, 116-119.10.1016/j.frl.2016.04.008
- 19. Ebeke, Mr Christian, Loko, Mr Boileau, & Viseth, Arina. (2014). Credit quality in developing economies: Remittances to the rescue? International Monetary Fund, Working Paper No. 14/144.10.5089/9781498377911.001
- 20. Ekanayake, EMNN, & Azeez, AA. (2015). Determinants of non-performing loans in licensed commercial banks: Evidence from Sri Lanka. Asian Economic and Financial Review, 5(6), 868-882.10.18488/journal.aefr/2015.5.6/102.6.868.882
- 21. Espinoza, Raphael A, & Prasad, Ananthakrishnan. (2010). Non-performing loans in the GCC banking system and their macroeconomic effects. International Monetary Fund, Working Paper No. 10/224.10.5089/9781455208890.001
- 22. Fayissa, Bichaka, Nsiah, Christian, & Tadasse, Badassa. (2008). Impact of tourism on economic growth and development in Africa. Tourism Economics, 14(4), 807-818.10.5367/000000008786440229
- 23. Feijó, Carmem Aparecida. (2011). Credit risk and macroeconomic interactions: Empirical evidence from the Brazilian banking system. Modern Economy, 2(5), 910-929.10.4236/me.2011.25102
- 24. Fernández de Lis, Santiago, Martínez Pagés, Jorge, & Saurina, Jesús. (2000). Credit Growth, Problem Loans and Credit Risk Provisioning in Spain. Bank de España, Working Paper No. 18.
- 25. Fofack, Hippolyte L. (2005). Non-performing loans in Sub-Saharan Africa: Causal analysis and macroeconomic implications. World Bank Policy Research, Working Paper No. 3769.10.1596/1813-9450-3769
- 26. Garr, David Kwashie. (2013). Determinants of credit risk in the banking industry of Ghana. Developing Country Studies, 3(11), 64-77.
- 27. Ghosh, Amit. (2015). Banking-industry specific and regional economic determinants of non-performing loans: Evidence from US states. Journal of Financial Stability, 20, 93-104.10.1016/j.jfs.2015.08.004
- 28. Godlewski, Christophe J. (2005). Bank capital and credit risk taking in emerging market economies. Journal of Banking Regulation, 6(2), 128-145.10.1057/palgrave.jbr.2340187
- 29. Hu, Jin-Li, Li, Yang, & Chiu, Yung-ho. (2006). Ownership and non-performing loans: Evidence from Taiwan’s banks. The Developing Economies, 42(3), 405-420.10.1111/j.1746-1049.2004.tb00945.x
- 30. İslamoğlu, Mehmet. (2015). The effect of macroeconomic variables on non-performing loan ratio of publicly traded banks in Turkey. Transactions on Business and Economics, 12, 10-20.
- 31. Ivanović, Maja. (2016). Determinants of credit growth: The case of Montenegro. Journal of Central Banking Theory and Practice, 5(2), 101-118.10.1515/jcbtp-2016-0013
- 32. Jakubík, Petr, & Reininger, Thomas. (2013). Determinants of non-performing loans in Central, Eastern and Southeastern Europe. Focus on European Economic Integration, 3, 48-66.
- 33. Jameel, Kiran. (2014). Crucial factors of nonperforming loans: Evidence from Pakistani banking sector. International Journal of Scientific & Engineering Research, 5(7), 704-710.
- 34. Jha, Suvita, & Hui, Xiaofeng. (2012). A comparison of financial performance of commercial banks: A case study of Nepal. African Journal of Business Management, 6(25), 7601-7611.10.5897/AJBM11.3073
- 35. Jiménez, Gabriel, & Saurina, Jesús. (2006). Credit cycles, credit Risk, and prudential regulation. International Journal of Central Banking, 2, 65-98.
- 36. Kavkler, Alenka, & Festić, Mejra. (2010). The trade deficit and banking sector results in Romania and Bulgaria. Economic Interferences, 12(27), 199-213.
- 37. Keeton, William R. (1999). Does faster loan growth lead to higher loan losses? Economic Review-Federal Reserve Bank of Kansas City, 84(2), 57-75.
- 38. Kirui, Simion. (2014). The effect of non performing loans on profitability of commercial banks in Kenya. (Master’s Degree Thesis), Master’s Degree Thesis, University of Nairobi, Kenya.
- 39. Klein, Nir. (2013). Non-performing loans in CESEE: Determinants and impact on macroeconomic performance. International Monetary Fund, Working Paper No. 13/72.10.5089/9781484318522.001
- 40. Kwan, Simon, & Eisenbeis, Robert A. (1997). Bank risk, capitalization, and operating efficiency. Journal of Financial Services Research, 12(2), 117-131.10.1023/A:1007970618648
- 41. Louzis, Dimitrios P, Vouldis, Angelos T, & Metaxas, Vasilios L. (2012). Macroeconomic and bank-specific determinants of non-performing loans in Greece: A comparative study of mortgage, business and consumer loan portfolios. Journal of Banking and Finance, 36(4), 1012-1027.10.1016/j.jbankfin.2011.10.012
- 42. Macit, Fatih. (2012). What determines the non-performing loans ratio: Evidence from Turkish commercial banks. CEA Journal of Economics, 7(1), 1-72.
- 43. Makri, Vasiliki, Tsagkanos, Athanasios, & Bellas, Athanasios. (2014). Determinants of non-performing loans: The case of Eurozone. Panoeconomicus, 61(2), 193-206.10.2298/PAN1402193M
- 44. Messai, Ahlem Selma, & Jouini, Fathi. (2013). Micro and macro determinants of non-performing loans. International Journal of Economics and Financial Issues, 3(4), 852-860.
- 45. Ngugi, Rose. (2001). An empirical analysis of interest rate spread in Kenya. African Economic Research Consortium (AERC) Research Paper No. 106.
- 46. Nkusu, Mwanza. (2011). Non-performing loans and macrofinancial vulnerabilities in advanced economies. International Monetary Fund, Working Paper No. 161.10.2139/ssrn.1888904
- 47. Podpiera, Jiří, & Weill, Laurent. (2008). Bad luck or bad management? Emerging banking market experience. Journal of Financial Stability, 4(2), 135-148.10.1016/j.jfs.2008.01.005
- 48. Ravi Prakash, Sharma Poudel (2013). Macroeconomic determinants of credit risk in Nepalese banking industry. Proceedings of 21st International Business Research Conference, Ryerson University, Canada.
- 49. Reinhart, Carmen M, & Rogoff, Kenneth S. (2010). Growth in a time of debt (digest summary). American Economic Review, 100(2), 573-578.10.1257/aer.100.2.573
- 50. Rinaldi, Laura, & Sanchis-Arellano, Alicia. (2006). Household debt sustainability: What explains household non-performing loans? An empirical analysis. European Central Bank, Working Paper Series No. 570.10.2139/ssrn.872528
- 51. Roland, Beck, Petr, Jakubik, & Anamaria, Piloiu. (2013). Non-performing loans: What matters in addition to the economic cycle? European Central Bank, Working Paper No. 1515.
- 52. Salas, Vicente, & Saurina, Jesus. (2002). Credit risk in two institutional regimes: Spanish commercial and savings banks. Journal of Financial Services Research, 22(3), 203-224.10.1023/A:1019781109676
- 53. Shingjergji, Ali. (2013). The impact of bank specific variables on the non performing loans ratio in the Albanian banking system. Research Journal of Finance and Accounting, 4(7), 148-152.
- 54. Siddiqui, Muhammad Ayub. (2012). Towards determination of interest spread of commercial banks: Empirical evidences from Pakistan. African Journal of Business Management, 6(5), 1851-1862.
- 55. Škarica, Bruna. (2014). Determinants of non-performing loans in Central and Eastern European countries. Financial Theory and Practice, 38(1), 37-59.10.3326/fintp.38.1.2
- 56. Sorge, Marco, & Virolainen, Kimmo. (2006). A comparative analysis of macro stress-testing methodologies with application to Finland. Journal of Financial Stability, 2(2), 113-151.10.1016/j.jfs.2005.07.002
- 57. Stijepović, Ristan. (2014). Recovery and reduction of non-performing loans– Podgorica approach. Journal of Central Banking Theory and Practice, 3(3), 101-118.10.2478/jcbtp-2014-0017
- 58. Tanasković, Svetozar, & Jandrić, Maja. (2015). Macroeconomic and institutional determinants of non-performing loans. Journal of Central Banking Theory and Practice, 4(1), 47-62.10.1515/jcbtp-2015-0004
- 59. Thi Minh Hue, Nguyen. (2015). Non-performing loans: Affecting factor for the sustainability of Vietnam commercial banks. Journal of Economics and Development, 17(1), 93-106.10.33301/2015.17.01.06
- 60. Vogiazas, Sofoklis D, & Nikolaidou, Eftychia. (2011). Investigating the determinants of non-performing loans in the Romanian banking system: An empirical study with reference to the Greek crisis. Economics Research International, 85, 1-13.10.1155/2011/214689
- 61. Were, Maureen, & Wambua, Joseph. (2014). What factors drive interest rate spread of commercial banks? Empirical evidence from Kenya. Review of Development Finance, 4(2), 73-82.10.1016/j.rdf.2014.05.005
- 62. Zribi, Nabila, & Boujelbène, Younes. (2011). The factors influencing bank credit risk: The case of Tunisia. Journal of Accounting and Taxation, 3(4), 70-78.