Turmoil at Twenty Recession, Recovery, and Reform in Central and Eastern Europe and the Former Soviet Union

This book, written on the eve of the 20th anniversary of the fall of the Berlin wall in 1989, addresses three questions that relate to recession, recovery, and reform, respectively, in Europe and Central Asia (ECA) transition countries. Did the transition from a command to a market economy and the p...

Full description

Saved in:

Bibliographic Details
Main Author	Pradeep Mitra, Marcelo Selowsky, Juan Zalduendo
Format	eBook Book
Language	English
Published	Chicago World Bank 2010 World Bank Publications The World Bank
Edition	1
Series	Eastern Europe and Central Asia Flagship
Subjects	20th century ARBITRAGE ASSET RATIO BALANCE SHEET BALANCE SHEETS BANK EXPOSURE BANK FOR INTERNATIONAL SETTLEMENTS BANK REGULATION BANK RESTRUCTURING BANK SUPERVISION BANKING CRISES BANKING SECTOR BANKING SECTOR ASSETS BANKING SECTORS BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY Banks and banking BENEFICIARIES BENEFICIARY BOND SPREADS BUDGET CONSTRAINTS BUSINESS & ECONOMICS BUSINESS CYCLE C.I.S CAPACITY CONSTRAINTS CAPITAL ACCOUNT CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL FLOWS CAPITAL INFLOWS CAPITAL MOVEMENTS CAPITAL REQUIREMENTS Central Asia CENTRAL BANK CENTRAL BANKS Central Europe COLLECTIVE ACTION CREDIBILITY CREDIT GROWTH CREDIT LOSSES CREDIT MARKET CREDITORS CURRENCY COMPOSITION CURRENCY CRISES CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS CURRENT ACCOUNT SURPLUSES DEBT DEBT FINANCING DEBT RATIOS DEBT RESTRUCTURING DEBT SERVICE DEBTORS DEMAND FOR CREDIT DEPOSIT DEPOSIT INSURANCE DEPOSIT INSURANCE SCHEMES DEPOSITORS DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DOMESTIC BANKS DOMESTIC INTEREST RATES DOMESTIC MARKET DURABLE DURABLE GOODS Eastern Europe Economic conditions ECONOMIC DEVELOPMENTS Economic policy Economic recovery Economic reform EMERGING ECONOMIES EMERGING ECONOMY EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS EMPLOYMENT ENTERPRISE PERFORMANCE Europe, Central Europe, Eastern EXCHANGE RATE EXCHANGE RATES EXPENDITURES EXPORTERS EXTERNAL BORROWING EXTERNAL DEBT EXTERNAL FUNDING FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEEPENING FINANCIAL INTEGRATION FINANCIAL MARKETS FINANCIAL OPENNESS FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCING SOURCES FISCAL DEFICITS FISCAL POLICY FLEXIBLE EXCHANGE RATE FLOATERS FOREIGN ASSETS FOREIGN BANK FOREIGN BANKS FOREIGN CAPITAL FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY LOANS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN FINANCIAL INSTITUTIONS FOREIGN INVESTORS FOREIGN LENDERS Former Soviet republics GLOBAL ECONOMY GLOBAL FINANCE GLOBAL MARKETS GLOBAL TRADE GLOBALIZATION HOLDINGS HOST COUNTRIES HOST COUNTRY HOUSING INCOME LEVELS INDEBTEDNESS INFLATION INFORMAL FINANCE INSTRUMENT INTEREST COVERAGE RATIO INTEREST RATE INTEREST RATES INTERNAL FINANCE INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL LENDING INTERNATIONAL SETTLEMENTS INVESTMENT BANK INVESTMENT CLIMATE JUDICIAL SYSTEM JUDICIAL SYSTEMS LABOR MARKETS LEGAL ENVIRONMENT LEGAL FRAMEWORK LEGAL SYSTEM LEGAL SYSTEMS LEGISLATION LENDERS LIQUID ASSETS LIQUIDATION LIQUIDITY LIQUIDITY PROBLEMS LIVING STANDARDS LOAN LOAN LOSS PROVISIONS LOAN PORTFOLIO LOCAL CURRENCY MACROECONOMIC CRISES MACROECONOMIC POLICIES MACROECONOMIC STABILITY MACROECONOMIC STABILIZATION MARKET ECONOMIES MARKET ECONOMY MARKET RISKS MARKET STRUCTURE MATURITIES MATURITY MONETARY FUND MONETARY POLICIES MONETARY POLICY MORTGAGE MORTGAGE INTEREST MORTGAGE LOANS MORTGAGES NATIONAL CREDIT NATURAL RESOURCES NONPERFORMING LOANS OIL PRICES OPEN ECONOMIES POLICY RESPONSE Post-communist societies PRIVATE CAPITAL PRIVATE CREDIT PRIVATE INVESTMENT PRIVATE SECTOR CREDIT PRIVATIZATION PRODUCTIVITY PROFITABILITY PROPERTY RIGHTS PRUDENTIAL SUPERVISION PUBLIC DEBT PUBLIC EXPENDITURES PUBLIC FINANCES PURCHASING POWER REAL EXCHANGE RATE RECAPITALIZATION Recession REGULATORY FORBEARANCE REGULATORY FRAMEWORKS REMITTANCE REMITTANCES REORGANIZATION RESERVE RESERVE REQUIREMENTS RETURN RETURN ON ASSETS RETURN ON EQUITY RISK FACTORS RULE OF LAW SAFETY NET SAFETY NETS SAVINGS SHORT-TERM DEBT SOCIAL SAFETY NETS SOVEREIGN BOND STATE ENTERPRISES SUBSIDIARIES SUBSIDIARY SUPERVISORY AGENCY SUPPLIES OF CREDIT SUPPLY OF CREDIT SYSTEMIC BANKING CRISES TAX TAX ADMINISTRATION TOTAL DEBT TRADING Transcaucasia TRANSITION COUNTRIES TRANSITION COUNTRY TRANSITION ECONOMIES TRANSPORT TREATY WITHDRAWAL WORLD FINANCIAL MARKETS GLOBAL FINANCE DEBT RESTRUCTURING SAFETY NETS INTERNATIONAL BANK BANKING SECTOR REMITTANCES CAPITAL ACCOUNT FISCAL POLICY DEBT EMERGING ECONOMIES CAPITAL FLOWS INTERNATIONAL SETTLEMENTS FOREIGN CURRENCY LENDERS MACROECONOMIC POLICIES BANK REGULATION MARKET ECONOMIES ARBITRAGE TRANSITION ECONOMIES FINANCIAL SYSTEMS
Online Access	Get full text

Cover

Loading…

More Information
Summary:	This book, written on the eve of the 20th anniversary of the fall of the Berlin wall in 1989, addresses three questions that relate to recession, recovery, and reform, respectively, in Europe and Central Asia (ECA) transition countries. Did the transition from a command to a market economy and the period when it took place, plant the seeds of vulnerability that made transition countries (the region excluding Turkey) more prone to crisis than developing countries generally? Did choices made on the road from plan to market shape the ability of affected countries to recover from the crisis? What structural reforms do transition countries need to undertake to address the most binding constraints to growth in a world where financial markets have become more discriminating and where capital flows to transition and developing countries are likely to be considerably lower than before the crisis? This report is structured as follows: chapter one of the book analyses how countries fell into recession and crisis, why not all of them were equally affected, and whether different policies could have positioned them better to face the crisis. Chapter two discusses rescue and stabilization and the role of international collective action. The next two chapters focus on policies for recovery, chapter three on restructuring bank, corporate and household debt and chapter four on scaling up social safety nets. Chapters five and six focus on reform, examining the binding constraints to growth and the policy agenda in the most important sectors identified by that analysis.
Bibliography:	Eastern Europe and Central Asia Flagship SourceType-Books-1 ObjectType-Book-1 content type line 7
ISBN:	9780821381137 082138113X
DOI:	10.1596/978-0-8213-8113-7