Chief Editor
  • Prof. Christina Nikolova, PhD
Editorial Board
  • Prof. Christina Nikolova, PhD - UNWE
  • Prof. Elka Todorova, DSc. - UNWE
  • Prof. Maya Lambovska, DSc. - UNWE
  • Assoc. Prof. Todor Nedev, PhD - UNWE
  • Assoc. Prof. Dorina Kabakchieva, PhD - UNWE
  • Assoc. Prof. Paskal Zhelev, PhD - UNWE
Scientific Secretary
  • Assoc. Prof. Aleksandar Valkov, PhD - UNWE
Coordinator
  • Assist. Prof. Veselina Lyubomirova, PhD - UNWE
International Editorial Board
  • Damian Stantchev, PhD
    Edinburgh NAPIER University, UK

  • Ivaylo Vassilev, PhD
    University of Southampton,UK

  • Prof. Irina Kuzmina-Merlino, PhD
    Transport and Telecommunication Institute, Riga

  • Milan Zdravkovic
    University of Niš, Serbia

  • Prof. Niculae Mihaita, PhD
    Bucharest Academy of Economic Studies, Romania

  • Prof. Ricardo Jardim-Gonçalves, PhD
    UNINOVA institute, New University of Lisbon, Portugal

  • Prof. Ing. Jaroslav Belás, PhD
    Tomas Bata University in Zlín, Czech Republic

  • Prof. John Rijsman, PhD
    Tilburg University

  • Prof. Ing. Zdenek Dvorák, PhD
    University of Zilina, Slovak Republic

  • Prof. Zoran Cekerevac, PhD
    “Union – Nikola Tesla” University in Belgrade, Serbia

Mortgage in Bulgaria and Romania - Does the "Foreignness" Influence The Supply?
YEARBOOK OF UNWE
year 2020
Issue 1

Mortgage in Bulgaria and Romania - Does the "Foreignness" Influence The Supply?

Abstract

The housing markets and housing finance are tightly connected and both are crucial to the stability of the economy as a whole. Housing booms and busts have been associated with many of the most serious financial and economic crises in developed countries. In order to avoid such crises in the future IMF research suggests it is particularly important to monitor credit growth.  The connection between housing markets and housing finance can be seen in the mortgage interest rates. Even though the main drivers of mortgage interest rates are well known in the theory, differences between countries still exist. Nowadays banking has become international, mortgage-lending markets are predominantly local. In fact, even pan-European banks operate on non-integrated national mortgage credit markets. In our study we explore the ability of main mortgage loan clauses to provide a robust clusterization of market participants.

JEL: G21, F65, O57

Keywords

mortgage loans, Bulgarian bank system
Download Yearbook_2020_No01_Alexandrova, Marinov_R.pdf
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ISSN (print): 1312-5486
ISSN (online): 2534-8949