How Emerging Europe Came Through the 2008/09 Crisis [electronic resource] : An Account by the Staff of the IMF's European Department, Bakker, Bas B..

Bakker, Bas B.
Washington, D.C. : International Monetary Fund, 2012.
IMF eLibrary
Government document
1 online resource (348 p.)
Local subjects:
Access to international capital.
Access to international capital markets.
Account deficits.
Aggregate demand.
Asset markets.
Balance of payments.
Balance of payments crisis.
Balance sheet effects.
Bank assets.
Bank capital.
Bank credit.
Bank crisis.
Bank deposits.
Bank exposure.
Bank failures.
Bank financing.
Bank for international settlements.
Bank funding.
Bank groups.
Bank independence.
Bank lending.
Bank liquidity.
Bank loans.
Bank losses.
Bank of japan.
Bank owners.
Bank policy.
Bank problems.
Bank rate.
Bank recapitalization.
Bank reserves.
Bank run.
Bank runs.
Bank solvency.
Bank supervision.
Banking crises.
Banking crisis.
Banking sector.
Banking sector assets.
Banking sector problems.
Banking sectors.
Banking statistics.
Banking system.
Banking systems.
Banks assets.
Basket of currencies.
Bond auction.
Bond index.
Bond issuance.
Bond issues.
Bond market.
Bond markets.
Bond placements.
Bond spreads.
Bond yields.
Budget allocations.
Budget balance.
Budget deficit.
Budget deficits.
Budget imbalance.
Budget measures.
Budget process.
Budgetary discipline.
Budgetary funds.
Budgetary implications.
Budgetary institutions.
Buoyant capital inflows.
Capital account crisis.
Capital account liberalization.
Capital accounts.
Capital adequacy.
Capital adequacy ratio.
Capital adequacy ratios.
Capital base.
Capital budget.
Capital controls.
Capital expenditure.
Capital flow.
Capital flow reversals.
Capital flows.
Capital inflows.
Capital injection.
Capital leaves.
Capital market.
Capital markets.
Capital movement.
Capital needs.
Capital outflow.
Capital outflows.
Capital spending.
Capital stock.
Central bank.
Central bank rate.
Central banks.
Change in expenditures.
Commodity exporters.
Commodity prices.
Consumer price index.
Credible fixed exchange rate regimes.
Credit boom.
Credit expansion.
Credit rating.
Credit risk management.
Crisis prevention.
Currency board.
Currency boards.
Currency crisis.
Currency debt.
Currency depreciation.
Currency devaluations.
Currency risk.
Currency risks.
Currency swaps.
Current account.
Current account adjustment.
Current account balance.
Current account deficit.
Current account deficits.
Current account surpluses.
Debt crisis.
Debt maturities.
Debt obligations.
Debt reduction.
Debt restructuring.
Debt service.
Debt stock.
Debt-servicing costs.
Defense spending.
Demonstration effect.
Deposit guarantee.
Deposit insurance.
Deposit insurance coverage.
Deposit insurance scheme.
Direct investment.
Direct investment inflows.
Discretionary fiscal stimulus.
Dividend policy.
Domestic bond market.
Domestic borrowing.
Domestic credit.
Domestic credit expansion.
Domestic currency.
Domestic debt.
Domestic debt markets.
Domestic demand.
Domestic economy.
Domestic financing.
Domestic interest rates.
Domestic production.
Domestic savings.
Domestic securities.
Economic liberalization.
Economic outcomes.
Economic recession.
Effective exchange rate.
Equity capital.
Equity injections.
Equity prices.
Eurobond market.
European investment bank.
Excess demand.
Excessive capital inflows.
Excessive deficit procedure.
Exchange arrangements.
Exchange controls.
Exchange markets.
Exchange of information.
Exchange rate.
Exchange rate adjustment.
Exchange rate appreciation.
Exchange rate band.
Exchange rate changes.
Exchange rate channels.
Exchange rate depreciation.
Exchange rate determination.
Exchange rate flexibility.
Exchange rate mechanism.
Exchange rate overshooting.
Exchange rate overvaluation.
Exchange rate peg.
Exchange rate pegs.
Exchange rate policy.
Exchange rate pressures.
Exchange rate realignment.
Exchange rate regime.
Exchange rate regimes.
Exchange rate risk.
Exchange rate risks.
Exchange rates.
Exchange reserves.
Exchange restrictions.
Exchange sales.
Exchange swaps.
Expansionary fiscal.
Expansionary fiscal policies.
Expansionary fiscal policy.
Expenditure growth.
Expenditure increases.
Expenditure programs.
Expenditure restraint.
Export earnings.
Export growth.
Export market.
Export market share.
Export sector.
Export volumes.
Exporting countries.
External borrowing.
External debt.
External debt financing.
External financing.
External shocks.
Financial crisis.
Financial indicators.
Financial institutions.
Financial market.
Financial markets.
Financial restructuring.
Financial sector.
Financial stability.
Financial system.
Fiscal adjustment.
Fiscal adjustment effort.
Fiscal adjustment package.
Fiscal adjustments.
Fiscal affairs.
Fiscal affairs department.
Fiscal austerity.
Fiscal balance.
Fiscal balances.
Fiscal consolidation.
Fiscal consolidation efforts.
Fiscal coordination.
Fiscal cost.
Fiscal costs.
Fiscal council.
Fiscal crisis.
Fiscal decentralization.
Fiscal deficit.
Fiscal deficit target.
Fiscal deficits.
Fiscal discipline.
Fiscal effort.
Fiscal efforts.
Fiscal expansion.
Fiscal expenditure.
Fiscal framework.
Fiscal gap.
Fiscal imbalance.
Fiscal imbalances.
Fiscal impulse.
Fiscal management.
Fiscal measures.
Fiscal performance.
Fiscal policies.
Fiscal policy.
Fiscal policy framework.
Fiscal policy response.
Fiscal policy unit.
Fiscal position.
Fiscal positions.
Fiscal pressures.
Fiscal priorities.
Fiscal program.
Fiscal prudence.
Fiscal reform.
Fiscal reforms.
Fiscal responsibility.
Fiscal responsibility law.
Fiscal responsibility laws.
Fiscal restraint.
Fiscal retrenchment.
Fiscal revenues.
Fiscal risks.
Fiscal rules.
Fiscal savings.
Fiscal side.
Fiscal situation.
Fiscal solvency.
Fiscal space.
Fiscal spending.
Fiscal stabilization.
Fiscal stabilizers.
Fiscal stance.
Fiscal stimulus.
Fiscal strategy.
Fiscal support.
Fiscal surplus.
Fiscal surpluses.
Fiscal sustainability.
Fiscal targets.
Fiscal tightening.
Fiscal vulnerabilities.
Fiscal vulnerability.
Fiscally conservative.
Fixed exchange rate.
Fixed exchange rate countries.
Fixed exchange rate regime.
Fixed exchange rate regimes.
Fixed exchange rates.
Fixed investment.
Flat income tax.
Flat personal income tax rate.
Flexible exchange rate.
Flexible exchange rate regime.
Flexible exchange rate regimes.
Flexible exchange rates.
Floating exchange rate.
Floating exchange rate regime.
Floating exchange rates.
Foreign assets.
Foreign banks.
Foreign borrowing.
Foreign capital.
Foreign capital inflows.
Foreign currency.
Foreign currency debt.
Foreign debt.
Foreign direct investment.
Foreign exchange.
Foreign exchange market.
Foreign exchange markets.
Foreign exchange reserves.
Foreign exchange sales.
Foreign exchange swaps.
Foreign investors.
Foreign liabilities.
Formal sector.
Forward exchange.
Forward exchange rate.
Global capital market.
Global financial crisis.
Global liquidity.
Global market.
Government bond.
Government bond market.
Government bond markets.
Government bonds.
Government budget.
Government budget deficit.
Government budgets.
Government debt.
Government deficit.
Government expenditure.
Government expenditures.
Government finance.
Government revenue.
Government securities.
Government spending.
Gross domestic product.
Host countries.
Import demand.
Import prices.
Import substitution.
Inflation rate.
Interbank market.
Interest rate policy.
Intermediate inputs.
International capital.
International capital markets.
International financial statistics.
International reserve.
International reserves.
International standards.
Investment bank.
Investor confidence.
Inward remittances.
Liberalization efforts.
Liquidity injections.
Loan classification.
Local debt.
Long-term bonds.
Long-term fiscal sustainability.
Loose fiscal policy.
Loss of confidence.
Macroeconomic stability.
Macroeconomic stabilization.
Manufacturing sector.
Market asset.
Market bond.
Massive capital inflows.
Medium-term fiscal strategy.
Monetary base.
Monetary framework.
Monetary policy.
Monetary policy framework.
Monetary sector.
Monetary transmission.
Monetary union.
National bank.
Net capital.
Net capital flows.
Net capital outflows.
Net exports.
Nominal effective exchange rate.
Nominal exchange rate.
Nominal exchange rates.
Nonperforming loan.
Official exchange rate.
Oil prices.
Output growth.
Per capita income.
Persistent fiscal deficits.
Price fluctuations.
Price liberalization.
Primary deficit.
Primary expenditure.
Primary fiscal deficit.
Private capital.
Private capital flows.
Private capital inflows.
Private credit.
Private inflows.
Prudent fiscal policies.
Prudent fiscal policy.
Prudential regulation.
Public debt.
Public deficits.
Public expenditure.
Public expenditures.
Public external debt.
Public finance.
Public finances.
Public spending.
Real effective exchange rate.
Real exchange rate.
Real exchange rate appreciation.
Real exchange rate overvaluation.
Real exchange rates.
Reducing fiscal deficits.
Reducing fiscal risks.
Regulatory framework.
Reserve requirements.
Return on assets.
Return on equity.
Revenue collection.
Risk aversion.
Sdr allocations.
Securities markets.
Severe recession.
Short-term capital.
Short-term capital inflows.
Short-term debt.
Sovereign debt.
Sovereign debt crisis.
Speculative attacks.
Spending control.
Spending cuts.
Spot market.
State budget.
State enterprise.
Stock market.
Stock market indices.
Stock market price.
Stock markets.
Strong capital inflows.
Structural adjustment.
Structural fiscal.
Structural fiscal reform.
Structural fiscal reforms.
Sustainable fiscal policy.
Swap transactions.
Systemic banking crisis.
Tax administration.
Tax burden.
Tax collection.
Tax collections.
Tax compliance.
Tax cuts.
Tax increase.
Tax increases.
Tax payments.
Tax policy.
Tax rates.
Tax revenue.
Tax revenues.
Tax system.
Tax wedge.
Taxes on labor.
Term bonds.
Terms of trade.
Tier 1 capital.
Tight fiscal policies.
Tight fiscal policy.
Trade channels.
Trade liberalization.
Trading partner.
Transition economy.
Unemployment rate.
Value-added tax.
Working capital.
World economy.
World trade.
World trade organization.
Emerging Europe was particularly hard hit by the global financial crisis, but a concerted effort by local policymakers and the international community staved off impending financial meltdown and laid the foundations for renewed convergence with western Europe. This book, written by staff of the IMF's European Department that worked on the region at the time, provides a unique account of events: the origins of the crisis and the precrisis policy setting; the crisis trigger and the scramble to avoid the worst; the stabilization and recovery; the remaining challenges; and the lessons for the future. Five regional chapters provide the analytics to put events into perspective. Dedicated chapters for all 19 countries of the region dig deeper into the idiosyncrasies of each economy and provide extensive economic data. A final chapter distills the lessons from the overall regional experience and the wide intraregional diversity. Taken together, they make this book an indispensible reference for economic scholars of the region and beyond.
Description based on print version record.
Bakker, Bas B.
Klingen, Christoph.
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