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The aim of this empirical study is to describe and provide analysis on the experience of managing capital flows in Iceland and the Baltic countries. During the build-up of the crisis, there were shortcomings in macroeconomic policies and in the policy mix, as well as in financial supervision in...
Persistent link: https://www.econbiz.de/10010790271
Persistent link: https://www.econbiz.de/10005264258
This paper explores the business cycle in Bulgaria and the Baltic countries: Estonia, Latvia and Lithuania during the …
Persistent link: https://www.econbiz.de/10009352391
Persistent link: https://www.econbiz.de/10005767357
, Estonia, Lithuania, Poland, Romania, and Russia, except for Latvia. Moreover, the behaviour of time-varying betas during the …
Persistent link: https://www.econbiz.de/10010685427
The Asian financial crisis of 1997-98 was one of the most dramatic economic events of recent times, which raised many questions regarding the appropriate policy response to financial crises. This paper reviews the experience of this crisis, focusing on the overall strategy of crisis management...
Persistent link: https://www.econbiz.de/10005263845
Consider two views of the global financial crisis. One view looks across the border: it blames external imbalances, the unprecedented current account deficits and surpluses in recent years. Another view looks within the border: it faults domestic financial systems where risks originated in...
Persistent link: https://www.econbiz.de/10010790262
This paper recounts Chile’s experience with capital account policies since the 1990s. We present how two external shocks were confronted under very different macroeconomic and capital account frameworks. We show that during the 1997-98 Asian-LTCM-Russia crisis, a closed capital account and...
Persistent link: https://www.econbiz.de/10010790346
-ade. Among transition economies, Estonia first introduced a currency board in 1992, followed by Lithuania in 1994 and Bulgaria in … Estonia and Lithuania, the present exchange rate system has been ac-companied by strong real appreciation of the currency …. Both in Estonia and Lithuania the present exchange rate system has been accompanied by strong real appreciation of the …
Persistent link: https://www.econbiz.de/10005419602
The Eastern Caribbean Currency Union (ECCU) countries financial system has increasingly come under stress particularly through weakly supervised nonbank and offshore financial sectors with knock-on effects to domestic banks. The staff report focuses on ECCU’s 2009 discussion on common...
Persistent link: https://www.econbiz.de/10011245111