Nigerian Journal of Economic and Social Studies最新文献

{"title":"The Role of Monetary Policy as the Foundation of Economic Development in Bosnia and Herzegovina","authors":"M. Živković, Lejla Hodzic","doi":"10.14706/JECOSS16615","DOIUrl":"https://doi.org/10.14706/JECOSS16615","url":null,"abstract":"Abstract: Macroeconomic stabilization of every country depends largely upon the conduct of appropriate economic policy, which comprises both fiscal and monetary policy; therefore, it is of great importance to choose the most adequate and productive ones. Many countries across the board have employed monetary policy in their attempt to ease the consequences of economic crises in the aftermath of global financial meltdown, and in the search for sustainable economic development. This paper was confined to the monetary policy in Bosnia and Herzegovina specifically, and its aim was to address the current Currency Board Regime along with the available monetary policy instruments and to determine whether an opportunity for the improvement of economic growth and consequently economic development lies within it. The importance of Central Bank was stressed out, as it represents the anchor of the monetary system. The paper comprises the analysis of the implemented CBR, its brief history, monetary policy instruments available and its consequences on the economy of BH therefore, it is thought that abandoning the arrangement either by joining the EMU or by making the Central Bank more independent is necessary. \u0000 \u0000Key words: Macroeconomic Stabilization Monetary Policy Instruments;BH Economic Development; Monetary Easing","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"54 1","pages":"25"},"PeriodicalIF":0.0,"publicationDate":"2016-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90936267","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Banking Crises of the 1990s and 2000s in Developed Countries: How Similar Are They?","authors":"Thouraya Boudebbous","doi":"10.14706/JECOSS15526","DOIUrl":"https://doi.org/10.14706/JECOSS15526","url":null,"abstract":"(ProQuest: ... denotes formulae omitted.)IntroductionThe global financial system experienced a serious crisis in July 2007. This crisis, initially affecting the American housing market, gradually spread to the entire global financial system. The crisis not only caused the default of some of the world's largest banking institutions, but was also at the root of a worldwide financial crisis comparable to that of the Great Depression of 1929.The 2007-2008 banking crises have been the subject of numerous controversies as to their similarities and differences to past banking crises. Some claim that the recent crises are different in every aspect. They are chiefly due to a global savings glut and the absence of shadow banking system regulation (Adrian and Shin, 2009). Others maintain that the recent episodes of banking distress are not so different from the previous ones and that the latter show remarkable similarities to the former. According to Claessens and al. (2010b), these similarities are: First, the price of real and financial assets rising considerably in a number of countries before the crisis, notably in the United States and Europe. These prices reached 60% before the start of the crisis, which strongly recalls the price spike observed during major financial crises of the '90s, notably the Japanese crisis of 1997 (Caballero, 2010). A second similarity is the occurrence, in a number of major economies, of credit booms before the crisis, estimated at over 150% of GDP (Claessens and al., 2010b). Third, international financial integration facilitated large capital inflows, which contributed to the acceleration of GDP growth and massive credit growth, which in turn led to a strong fluctuation of global demand and a strong deterioration of current bank balances during the period preceding the crisis (Cardarelli and al., 2010). Fourth, the inadequacy of the regulation and prudential supervision framework (Bair, 2009).In light of these findings, the goal of this study is twofold. First, to determine if the banking crises of the 2000s have shared causes with the crises of the 90s, and second, to determine if aggregated accounting indicators are robust banking crisis indicators.Thus, in this study we propose first to identify banking crisis indicators by means of a limited dependent logit approach for a cross-sectional view of advanced economies during the period preceding the 2007-2008 banking crises, namely 1990-2006, and the period 2007-2012. Second, we propose to test the robustness of the results derived from the multivariate logit approach, by means of Bayesian statistics (BMA). Indeed, according to Cuaresma and Slacik (2009) and Babecký and al. (2012), the BMA approach has the advantage of reviewing different model combinations and of weighting them according to their adjustments in the model.This paper will be organized as follows: The first section being an introduction, in the second section we briefly present a review of the literature on b","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"101 1","pages":"79"},"PeriodicalIF":0.0,"publicationDate":"2015-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84422972","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Determinants of Foreign Direct Investment: An Empirical Analysis for Turkey","authors":"Huseyin Kalyoncu, Nadide Sevil Tuluce, Z. Yaprak","doi":"10.14706/JECOSS15524","DOIUrl":"https://doi.org/10.14706/JECOSS15524","url":null,"abstract":"(ProQuest: ... denotes formulae omitted.)IntroductionEconomic development of a country depends on utilization of resources for increasing productive capacity. In many developing countries, utilization of resources is rendered impossible by the scarcity of domestic capital. One of these economic problems of developing countries is that they do not have enough national savings to finance their investments. They are in constant need of foreign capital in forms of both direct and indirect investments. Foreign direct investment (FDI) is a process whereby the residents of the source country attain ownership of assets with the intention to control the production, distribution and other activities of a firm in the host country (Khachoo and Khan,2012). Foreign direct investment (FDI) is a way of international loan, by which those countries that have better investment opportunities at the present borrow from those that have capital surplus.FDI can be a crucial instrument to foster economic growth. FDI provides developing countries with the much needed capital for investments and enhances job creation, managerial skills and transfer of technology for less developed countries. Furthermore, FDI encourages technological development and also support the accumulation of physical capital.FDI plays a significant role in the development of international trade, and it helps to establish direct, stable, and long-lasting links between economies. The Organization for Economic Co-operation and Development (OECD) states that; FDI can serve as an important vehicle for local enterprise development, strengthening the competitiveness of both the recipient and investor (Groh and Wich, 2012). For example, Turkey in particular is pursuing further political and monetary integration with Europe. In that case maintaining a government effectiveness that is conducive to foreign investment and increases comparative advantage is integral to its integrationist aspirations.The significance of foreign direct investment (FDI) flows is well documented in literature for both the developing and developed countries. Foreign Direct Investment (FDI) inflows to developing countries have been substantially increasing and, compared to other capital flows, have remained the largest component of net resource flows to developing countries. FDI is a key element in international economic integration. FDI creates direct, stable and long-lasting links between economies. As a definition FDI is a direct investment into production or business in a country by an individual or company of another country, either by buying a company in the target country or by expanding operations of an existing business in that country. It encourages the transfer of technology and know-how between countries, and allows the host economy to promote its products more widely in international markets (Todaro, 1994).The role of foreign direct investment in the development of Turkish economy cannot be over emphasized. Foreign direct ","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"14 1","pages":"41"},"PeriodicalIF":0.0,"publicationDate":"2015-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87826086","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"What Determines the Firm’s Net Trade Credit? Evidence from Macedonian Listed Firms","authors":"F. Deari","doi":"10.14706/JECOSS15521","DOIUrl":"https://doi.org/10.14706/JECOSS15521","url":null,"abstract":"This paper analyzes the net trade credit and its determinants for a sample of 23 non-financial firms for the year 2011. The sample is derived from Macedonian Stock Exchange. The net trade credit is the dependent variable. Dependent variable is defined as the difference between trade receivables and liabilities, and then this difference is divided by total assets. Maturity structure of assets, size, profitability, inventory investment, and cash to assets ratio, long-term financing, total debt financing, and converting sales into cash are the independent variables. Both types of variables, dependent and independent are quantitative variables. Both are expressed on their book values. \u0000Variables are transformed and necessary post-selection adjustments will be done. Data and results are checked using Shapiro-Wilk W test for normality, Kernel density estimation, Cameron & Trivedi’s decomposition of IM-test and Breusch-Pagan / Cook-Weisberg test for heteroscedasticity, Variance Inflation Factor for multicollinearity, the model specification link test for single-equation models, and the regression specification error test for omitted variables. Relevant conclusions are drawn based on Spearman and regression analysis. Obtained results show that firms with more net trade credit are more profitable. Firms with higher portion of current assets are bigger firms and invest more in inventory than counterparties. Bigger firms have more inventory than smaller firms. Firms with higher leverage ratios are less able to convert sales into cash. Net trade credit is negatively significant associated with inventory to assets ratio, leverage ratio, and net cash flows from operating activities to sales. Net trade credit is positively significant associated with current assets to total assets ratio. Profitability is found statistically significant determinant, but with beta and standard error equal zero. Results show that net trade credit ratio on average is slightly small, but positive. A positive net trade credit indicates that on average trade receivables are higher than trade payables. With other words, analyzed firms for the analyzed period have sell more than have bought on credit. \u0000Keywords: net trade credit, accounts receivable, accounts payable, financial ratios, regression.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"26 1","pages":"7"},"PeriodicalIF":0.0,"publicationDate":"2015-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80078753","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Twin Deficit in Nigeria: A Re-Examination","authors":"L. Amaghionyeodiwe, Opeyemi Akinyemi","doi":"10.14706/JECOSS15528","DOIUrl":"https://doi.org/10.14706/JECOSS15528","url":null,"abstract":"This study re-examines the long run \u0000relationship between the budget and current \u0000account deficits in an oil-dependent open economy \u0000like Nigeria using a multivariate Granger causality \u0000test within the VECM framework. This result \u0000confirmed the existence of a long run relationship \u0000between the budget and current account deficit \u0000in Nigeria, thus supporting the Mudell-Fleming \u0000theory and refuting the Ricardian Equivalence \u0000Hypothesis (REH). The causality result indicates \u0000no causality between budget deficit and current \u0000account while the current account deficit causes \u0000budget account deficit. This implies that reduction \u0000in the current account deficits will help reduce the \u0000“twin deficit” dilemma.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"1 1","pages":"149"},"PeriodicalIF":0.0,"publicationDate":"2015-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76180731","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"An Empirical Analysis of Real Deposits in Nigeria","authors":"M. Shuaibu","doi":"10.14706/JECOSS15522","DOIUrl":"https://doi.org/10.14706/JECOSS15522","url":null,"abstract":"(ProQuest: ... denotes formulae omitted.)IntroductionA requisite component of economic growth and development is a well-functioning financial system characterised by a banking sub-sector that efficiently intermediates between surplus and deficit holders of funds. In a developing economy like Nigeria where the non-bank component of the financial sector is limited, problems in deposit money banks (DMBs) are instantly transmitted to the rest of the economy (Olofin and Afangideh, 2008). This is in view of the fact that commercial banks facilitate a bulk of financial transactions. Nevertheless, banking dominance of the Nigerian financial system has, however, dropped as controlled financial system assets fell from 90.5% in 2006 to 78.6% in 2011 (IMF, 2013).The main sources of the banking liquidity in Nigeria are public and private sector deposits which DMBs transmit to deficit holders of funds. However, growth rate of deposits have been lopsided in recent times as the rate fell from 65% in 2008 to -11.3% and -1.6% in 2010 and 2012, respectively (International Monetary Fund, 2013). It follows therefore that a negative shock to the depositary base will inhibit the flow of credit, constrain development of domestic industries and adversely affect economic growth. Therefore, factors influencing savings' decisions of households and firms become important determinants of a stable banking sector with particular reference to its intermediation role.iAn assessment of real deposits has gained ample attention in the literature (See Tvalodze and Tchaidze, 2011 for Georgia; Kibet, Mutai, Ouma, Ouma and Owuor, 2009 for Kenya; Dadkhah and Rajen, 1988 for India; Felmingham and Qing, 2001 for Australia; Hasan, 2001 for China; Mutluer and Yasemin, 2002 for Turkey; Lucas, 1988 for US; Vega, 1998 for Spain). Similarly, the behaviour of real deposits has been analysed within the context of currency deposit ratio. In this regard, Khaskeli, Ahmed and Hyder (2013) analysed the behaviour and determinants of the currency deposit ratio in Pakistan based on the notion that an increase in currency in circulation reduces deposits and invariably, loanable funds. This is because an increase in the volume of currency in circulation implies that deposits are being withdrawn from the banks, which restrict their ability to meet investors' credit demand.Research on the factors affecting real deposit creation in Nigeria is scanty, as inadequate attention has been given to the behaviour of real deposits with specific reference to the dynamic interaction of money supply and currency in circulation. The dominant strand of literature has focused on estimating the determinants and behaviour of real deposits (See Nwachukwu and Odigie, 2009; Odemero, 2012; Uneze, 2013; Nwachukwu and Egwaikhide, 2007, Nwachukwu, 2011) while some others have inferred real deposit behaviour on the basis of money demand models (See Aschani, 2010; Kumar, Webber and Fargher, 2010; Chukwu, Agu and Onah, 2010; Omotor, 201","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"23 1","pages":"127"},"PeriodicalIF":0.0,"publicationDate":"2015-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76582277","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"How Micro-Level Determinants Affect the Capital Structure Choice: Evidence from Bosnia and Herzegovina","authors":"Jasmina Mangafic, Danijela Martinović","doi":"10.14706/JECOSS15529","DOIUrl":"https://doi.org/10.14706/JECOSS15529","url":null,"abstract":"Abstract: The purpose of this study is to examine two leverage ratios using a sample of non-financial companies in Bosnia and Herzegovina (BiH). It was done by taking into account the joint effect of traditional capital structure determinants and managers' personal values and aspirations. We applied hierarchical regression analysis to determine the contribution of profitability indicators, firm size indicators, assets, growth, networking, managerial strategies, managerial psychology, managerial human capital and earnings volatility to explain the variance in capital structure. The results suggest that companies with less experienced owners/managers and higher firm growth have higher financial leverage ratios. In the analysis of the balance sheet leverage, financial proxies of capital structure seem to be significant in explaining capital structure variance. Therefore, companies with lower profitability, a lower level of fixed assets and higher growth opportunities have higher balance sheet leverage ratios. The findings provide better understanding of theoretical perspectives that can best explain how companies choose their capital structure in the transition economy context. Furthermore, empirical findings should help corporate managers to make optimal capital structure decisions.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"68 1","pages":"181"},"PeriodicalIF":0.0,"publicationDate":"2015-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74010812","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Effects of Foreign Direct Investments on Transition Economies: The Balkans Case","authors":"Mehmet Görgülü","doi":"10.14706/JECOSS15523","DOIUrl":"https://doi.org/10.14706/JECOSS15523","url":null,"abstract":"(ProQuest: ... denotes formula omitted.)IntroductionFollowing the painful 90s, stabilized economic growth becomes the predominant objective for most of the Balkans. In this direction, some of the Balkan countries such as Croatia and Bulgaria have managed to get aboard to the European Union (EU) train. But for many others, the train has not arrived yet. Moreover, being a transition economy in the Balkans creates additional burdens to these counties. Having experienced the harsh Bosnian War and the lagged effects of it, those countries are still struggling to find their way into the long road of development.As an international political instrument Foreign Direct Investments (FDIs) are playing an increasingly important role in economic development. By means of FDIs, the host countries may be affected positively through externality effects and capital enhancement (Alfaro, Chanda, Kalemli-Ozcan, and Sayek, 2006; Sun, 2002). However, FDIs can also create adverse effects such as external-dependency and imbalances in local markets. The outcome on the host economies basically depends on the level of absorptive capacities in these countriesi. Thus, the effects of FDIs in host countries with solid administrative, financial and economical infrastructures differ from the effects in countries lack such structures. These structural differences create a long range of effects on the host countries.In this paper, the effects of FDIs on economic growth of transition economies in the Balkans are investigated through an absorptive capacity perspective. The distinction between EU member Balkan countries and non-EU member Balkan countries has been made in the paper with \"transition\" concept taken into account; since EU members would be expected to have a better absorptive capacity due to EU obligations has to be fulfilled in order to reach EU standards. Thus, this paper concentrates only on non-EU member transition economies in the Balkansii. Accordingly, the FDIs in the host countries that have some level of absorptive capacities may have some effects that accelerate the growth, while, the FDIs in countries that lack such absorptive capacities, may not promote the growth. Moreover, there is a mutual relationship between absorptive capacities and FDIs. On one hand, absorptive capacities can stimulate the effects of FDIs to both positive and negative sides; on the other hand, FDI flows to a country are in line with the absorptive capacity of that country; as the capacity increases the possibility of increased FDI flows arises (Alfaro et al., 2004; Alfaro et al., 2006). Therefore, the absorptive capacities of the host countries are of vital importance when it comes down to FDIs. Through the absorptive capacity perspective the aim of this paper is to empirically reveal to what extent transition economies in the Balkans can utilize FDIs. Given the potential significance of FDIs on economic development, this paper not only offers an overall guideline on the matter for the t","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"90 1","pages":"23"},"PeriodicalIF":0.0,"publicationDate":"2015-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78455438","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Causes and Consequences of NPLs in Bosnia and Herzegovina Banking Sector","authors":"Kemal Kozaric, Emina Žunić","doi":"10.14706/JECOSS115111","DOIUrl":"https://doi.org/10.14706/JECOSS115111","url":null,"abstract":"Abstract: This paper analyzes the relationship between risks to which banks are exposed, rate of non-performing loans as well as capital adequacy. The analysis was conducted among the banking sector of Bosnia and Herzegovina. For the purpose of the analysis, the International Monetary Fund data - Core Financial Indicators for the period 2008 – 2013 were used. This study differs from previous researches primarily in the fact that the case study is Bosnia and Herzegovina, where there haven't been similar studies. To analyze and evaluate the model, correlation and regression analysis were used. The paper points to those aspects which deserve further attention in order to achieve better and more efficient management of them. Results indicate the increase in risk-weighted assets and rising rates of non-performing loans as one of the component assets. At the same time the growth rate of non-performing loans leads to the growth in risk-weighted assets and therefore the bank is exposed to major risks. Higher return on assets, as an indicator of business performance and management resources and profitability, leads to capital adequacy improvement. There is a strong correlation between the rate of capital adequacy and non-performing loans and that requires further research. Results indicate that better liquidity control leads to a reduction in the rate of non-performing loans and consequently better liquidity position of banks, and thus reduction in liquidity risk. During the analysis it was found that a large proportion of non-performing loans to total loans leads to deterioration in the financial result which is further reflected in the banks' capital. When we talk about capital adequacy we come to the conclusion that the banking system in Bosnia and Herzegovina, despite all the shortcomings and problems is adequately capitalized.","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"5 1","pages":"127"},"PeriodicalIF":0.0,"publicationDate":"2015-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79194879","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"An Overview of Small and Medium-Sized Banking Development in Bosnia and Herzegovina","authors":"E. Kozarević, Meldina Kokorović Jukan, Amra Softic","doi":"10.14706/JECOSS11519","DOIUrl":"https://doi.org/10.14706/JECOSS11519","url":null,"abstract":"Abstract: The purpose of this paper is to investigate the level of SME banking development in Bosnia and Herzegovina (BH). By using a structured questionnaire, the authors discuss perceptions of the banking sector representatives in BH regarding SME banking and their future plans for the management of credit risk associated with financing the SME sector. One of the main findings of this research is that the SME sector is becoming a strategic sector for BH banks and banks are willing to increase their involvement with SME clients. Authors also present results on current level of banks’ exposure to SMEs, types of financial services offered to SME’s clients by BH banks, drivers of banks’ involvement with SMEs, obstacles to further development of banks’ involvement with SMEs. Based on the banks’ responses and results of research conducted, suggestions to policy makers are given, such as tax reforms, interest rate subventions to SMEs, improvement of judiciary, simplifying administrative procedures. Also, some recommendations are given to banks, such as the need for better understanding the requirements of SME clients providing them more personal approach and creating a partnership, as well as lobbying the government bodies to change regulations governing SME sector. \u0000 \u0000Keywords: Financial system; Small and medium-sized enterprises (SMEs); SME banking; Comparative experiences; Bosnia and Herzegovina (BH)","PeriodicalId":52427,"journal":{"name":"Nigerian Journal of Economic and Social Studies","volume":"32 1","pages":"107"},"PeriodicalIF":0.0,"publicationDate":"2015-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87972084","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}