Understanding the Crisis in Emerging Europe

Despite the large output declines suffered by emerging Europe in 2008-09, a major currency and banking crisis was avoided. This paper argues that European economic and political integration was a mitigating factor in this. Cross-border banking groups, in particular, seem to have forestalled a sharp reversal in capital flows. Cross-country variations in output decline can be explained by a small set of macroeconomic vulnerabilities

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Year of publication:	2010
Authors:	Berglöf, Erik
Other Persons:	Korniyenko, Yevgeniya (contributor) ; Zettelmeyer, Jeromin (contributor) ; Plekhanov, Alexander (contributor)
Publisher:	[2010]: [S.l.] : SSRN
Subject:	Finanzkrise \| Financial crisis \| EU-Staaten \| EU countries \| Schwellenländer \| Emerging economies \| Osteuropa \| Eastern Europe \| Südosteuropa \| Southeastern Europe \| Europäische Integration \| European integration \| EU-Mitgliedschaft \| EU membership \| Wirtschaftskrise \| Economic crisis

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Extent:	1 Online-Ressource (24 p)
Series:	European Bank for Reconstruction and Development Working Paper ; No. 109
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 15, 2009 erstellt
Other identifiers:	10.2139/ssrn.1536645 [DOI]
Classification:	F43 - Economic Growth of Open Economies ; F36 - Financial Aspects of Economic Integration ; F34 - International Lending and Debt Problems ; O57 - Comparative Studies of Countries
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013148962