After hyperinflationary developments in 1993 the inflation rate was controlled and decreased to the level of about 10% in 1997 and 20% in 1998. Inflationary consequences of 1998 crisis were lower that one could expect. It proves the thesis about proper crisis management in Ukraine. Inflationary...

The authors of this outstanding scholarly work analyze the dynamics of disinflation in transition economies in Central and Eastern Europe. The volume covers all the key factors of this process: changes in money supply and money demand; exchange rate policy; currency crisis; fiscal policy; legal...

The series of currency crises which hit several developing countries in the 1990s did not leave the emerging market economies of Central and Eastern Europe unscathed. However, contrary to the experience of Mexico in 1995 and South East Asia in 1997-1998, the roots of the crises in our region...

The expectations of the government of Kyrgyzstan and the National Bank of Kyrgyzstan were quite optimistic. In 1996, despite of fiscal problems, further macroeconomic stabilization (i.e., reduction of the annual rate of inflation) and a stable rise of production were expected. However, as it is...

Polen wird am 1. Mai 2004 der Europäischen Union (EU) beitreten. An die Mitgliedschaft in der EU knüpft sich die Erwartung, dass dadurch das Wachstum und somit eine Konvergenz im Lebensstandard gefördert werden. Mit einer Zuwachsrate des realen Bruttoinlandsprodukts von 3,7 % im Jahre 2003...

This paper reviews issues associated with quasi-fiscal operations (QFO) of central banks in a sample of countries in Central and Eastern Europe and the former Soviet Union.The concern is the problem of transparency in fiscal and monetary accounts when the central bank undertakes quasi-fiscal...

This paper reviews issues associated with quasi-fiscal operations (QFO) of central banks in a sample of countries in Central and Eastern Europe and the former Soviet Union. The concern is the problem of transparency in fiscal and monetary accounts when the central bank undertakes quasi-fiscal...