Capital flows and non-performing loans: An empirical study of the European debt crisis
This study investigates the relationship between capital imports and non-performing loans (NPLs) in the context of the European debt crisis. The empirical analysis is based on a panel data set covering 22 countries in the European Union (EU) between year 2001 and 2014. All individual estimations in the empirical analysis indicate a significant and negative relationship between capital imports and