Front Matter Page
Middle East and Central Asia
Contents
I. Introduction
II. Data
III. Methodologies and Results
A. Solvency risk
B. Oil-Macro-Financial Linkages
IV. Robustness
A. Different Variable Ordering
B. Feedback Through Asset Prices
V. Conclusion
VI. Annex
References
Figures
1. Oil Prices and U.S. Interest Rate Expectations
2. Macroeconomic Variables
3. Bank-Level Variables
4. Distribution of Non-Performing Loan Ratio in Saudi Arabia
5. Dynamics of NPL Ratios
6. Oil-Macro-Financial Feedback Effects, Baseline Specification
Tables
1. Variable Description and Unitroot Test P-Values
2. Determinants of Bank NPLs in Saudi Arabia