Aida Ćehajić received Bank of Slovenia best doctoral dissertation award for 2022 for her thesis titled "Bank funding, credit growth and macroprudential regulation", written under supervision of Prof. Dr. Marko Košak (University of Ljubljana).
Dissertation summary:
The dissertation comprises of three chapters which investigate the effects of macroprudential policy on bank funding costs, lending supply and availability of bank credit for small and medium sized enterprises. The findings of the dissertation bring relevant insight on the effectiveness of macroprudential measures in European countries in both tightening and loosening policy cycles and with respect to their target and objective. The first chapter, which examines the relationship between the use of macroprudential measures and bank funding costs was published in the form of a scientific article, titled "Macroprudential measures and developments in bank funding costs" in International Review of Financial Analysis. The second chapter analyses the effects of macroprudential measures on bank lending in both tightening and loosening cycles of the policy. The paper on the basis of this chapter is titled "Tightening and Loosening of Macroprudential Policy, Its Effects on Credit Growth and Implications for the COVID-19 Crisis" and is published in Economic and Business Review. The third and last chapter analyses the relationship between the use of macroprudential measures and small and medium sized enterprises' access to finance and was published in the form of a scientific article titled "Bank lending and small and medium sized enterprises' access to finance - Effects of macroprudential policies" in Journal of International Money and Finance. The papers are joint work with Marko Košak (University of Ljubljana).
About the Bank of Slovenia:
The Bank of Slovenia is the central bank of the Republic of Slovenia, and from 1st of January 2007, when Slovenia joined the euro area, it has been a part of the Eurosystem. Bank of Slovenia has been awarding prizes since 1992 with the objective to promote research work in the field of finance. For more information about Bank of Slovenia activities and the award recipients please click here.