The papers in the present SUERF Study is a selection of the papers presented at a SUERF Workshop and Special OeNB East Jour Fixe held at Oesterreichische Nationalbank in Vienna on 23 January 2009. In his opening remarks (chapter 2), Ewald Nowotny, Governor of the Oesterreichische Nationalbank...

The three Baltic countries have been able to combine, Estonia since 1992 and Latvia and Lithuania since 1994, (1) a fixed exchange rate, (2) liberalisation of the capital account before having a well-functioning and fully supervised financial system, and (3) very large current account deficits....

The three Baltic countries have been able to combine, Estonia since 1992 and Latvia and Lithuania since 1994, (1) a fixed exchange rate,(2) liberalisation of the capital account before having a well-functioning and fully supervised financial system, and (3) very large current account deficits....

The paper provides a scenario exercise for Russian economic development until 2017. Russia will continue to grow for several years at least, as an emerging middle class drives consumption growth and structural change, though not in exports. Import propensity grows fast, and the recent current...

Trade and capital flows between Russia and the rest of the world are now significant for both partners. The economic reforms introduced in Russia since 1991 have converted an autarkic, highly regulated economy into a relatively open one. The dramatic change followed from the abolition of central...