No. 154. BANK FINANCING ACROSS SECTORS IN GREECE AT THE TIME OF THE BAILOUT PROGRAMS: TRENDS, SEASONALITY, MID-TERM FLUCTUATIONS (JUNE 2010 – DECEMBER 2018)
P. Prodromídis. 2020. (in Greek)
The paper looks into the evolution of domestic bank financing across Greece’s 13 sectors of economic activity, using monthly data provided by the Bank of Greece, and simple econometric tools for estimating the impact of the long-term trend, seasonality, and intermediate fluctuations. Although the overall lending pattern generally resembles the pattern of deposits, by and large the trend parameter varies from one sector to another, the intermediate fluctuations are asynchronous, and only tourism-related funding exhibits seasonality. The timing of the intermediate deviations from the trend helps identify the events that may have triggered the deviation; thus, (a) advancing one’s understanding about the operation of the economy, sectoral responses to similar events, and (b) providing useful lessons on carrying out economic development policy.