This study examines selected macroeconomic and bank-specific determinants of non-performing loans (NPLR) for a panel of 21commercial banks from the Baltics States (Estonia, Latvia and Lithuania), using annual data for the period 2005–2016. To avoid the risk of providing unconsistent and biased results by using only one estimation technique, in our study we implemented three alternative estimation models (fixed- effects model, difference Generalized Method of Moments and system Generalized Method of Moments). Empirical results provide evidence that the most important macroeconomic factors influencing NPLR are growth of GDP, public debt, inflation and unemployment. As for the bank-specific determinants, we found that equity to total assets ratio, return on assets, return on equity and growth of gross loans have an impact on the amount of NPLR.

这项研究使用2005-2016年期间的年度数据，检查了波罗的海国家（爱沙尼亚，拉脱维亚和立陶宛）的21家商业银行小组选定的宏观经济和特定于银行的不良贷款决定因素（NPLR）。为了避免仅使用一种估算技术提供不一致和有偏差的结果的风险，在我们的研究中，我们实现了三种替代估算模型（固定效应模型，差异广义矩方法和系统广义矩方法）。实证结果表明，影响NPLR的最重要的宏观经济因素是GDP增长，公共债务，通货膨胀和失业。对于特定于银行的决定因素，我们发现权益与总资产之比，资产收益率，权益收益率和总贷款增长对NPLR金额有影响。