Summary for non-specialistsThis paper looks at capital flows to the new EU Member States from Central and Eastern Europe (NMS10) during the last decade. Firstly, it analyses the role of various types of foreign capital flows – direct investment, portfolio investment, financial derivatives...

This Economic Brief reviews the main features of monetary policy frameworks implemented by the major central banks following the collapse of the Bretton Woods system of fixed exchange rates in the early 1970s. It discusses how these frameworks were affected by the academic views prevailing at...

This policy brief analyzes whether the exposure to the CEE10 region is a risk for parent banks. Simultaneously, risks for the CEE10 countries implied by the strong presence of foreign-owned banks as well as possible feedback loops are discussed. Ongoing financial market turbulences within the...

This Country Focus shows that some simple reserve adequacy measures (particularly based on external debt indices) – although suffering from a number of drawbacks – seem to be sound indicators of the largest vulnerabilities within the CEE8 region. Nevertheless, the analysis of...