08815oam 22015854 450 991096379760332120250426110802.09781475553659147555365X9781475505115147550511697814755818671475581866(CKB)2670000000246798(EBL)1606620(SSID)ssj0000803591(PQKBManifestationID)11431450(PQKBTitleCode)TC0000803591(PQKBWorkID)10824116(PQKB)11723475(Au-PeEL)EBL1606620(CaPaEBR)ebr10605256(OCoLC)870244755(IMF)HEECEE(IMF)HEECEA(MiAaPQ)EBC1606620(Perlego)1667377HEECEA(EXLCZ)99267000000024679820020129d2012 uf 0engurcn|||||||||txtccrHow Emerging Europe Came Through the 2008/09 Crisis : An Account by the Staff of the IMF's European Department /Bas Bakker, Christoph Klingen1st ed.Washington, D.C. :International Monetary Fund,2012.1 online resource (349 p.)Description based upon print version of record.9781616353810 1616353813 Includes bibliographical references and index.Cover; Contents; Foreword; Acknowledgments; Introduction and Overview; PART I: PRELUDE TO THE CRISIS; 1 The Boom Years, 1995-2007; Figures; Figure 1.1 Emerging Europe and Selected Regions: Real Per Capita GDP Growth, 1995-2007; Tables; TABLE 1.1 Emerging Europe: Exports of Goods, 1995-2007; Box; Figure 1.2 Emerging Europe: Domestic Demand Growth and GDP Growth, 2003-08; TABLE 1.2 Emerging Europe: Direction of Exports, 2007; Figure 1.3 Emerging Europe: Domestic Demand and Private Sector Credit Growth, 2003-08; Figure 1.4 Emerging Europe: Change in Real Estate Prices, 2003-08Figure 1.5 Credit Growth Figure 1.6 Credit to GDP Ratio, 2008; Figure 1.7 Emerging Europe: Net Capital Flows, 2000-07; Figure 1.8 Emerging Europe: Reform and Capital Flows; TABLE 1.3 Net Private Capital Flows, 2003-09; Figure 1.9 Emerging Europe: Cumulative Net Capital Inflows, 2003-08; Figure 1.10 The Surge in Capital Inflows by Type of Capital, 2003-07; Figure 1.11 Capital Inflows and Private Sector Credit; Figure 1.12 Credit, Domestic Demand and GDP; Figure 1.13 Emerging Europe: Consumer Price Inflation, 2006 and 2008; Figure 1.14 External Debt and International Investment Position, 2003-08Figure 1.15 Emerging Europe: Foreign Direct Investment Flow in Tradable and Nontradable Sectors, 2007 Figure 1.16 Emerging Europe: Total Private Sector Credit by Currency, 2008; Figure 1.17 Emerging Europe: Private Sector Credit, 2003 and 2008; Figure 1.18 Fiscal Policy; TABLE 1.4 Emerging Europe: General Government Overall Balance; TABLE 1.5 Emerging Europe: Public Debt, 2003-07; Figure 1.19 Emerging Europe: Credit Default Swap Spreads; Figure 1.20 External Position of Western Banks vis-à-vis Selected Regions; TABLE 1.6 Real GDP Growth Consensus ForecastPART II: THE CRISIS: REGIONAL PERSPECTIVES 2 Gathering Clouds: August 2007-September 2008; TABLE 2.1 Emerging Europe: World Economic Outlook Real GDP Growth Rate Projections; TABLE 2.2 Emerging Europe: External Positions of Western Banks vis-à-vis Emerging Europe; Figure 2.1 Emerging Europe: Credit Default Swap Spreads; Figure 2.2 Emerging Europe: Stock Market Indices; Figure 2.3 Emerging Europe: Consumer Price Inflation, 2006 and 2008; Figure 2.4 Baltics: House Price Index, Credit, GDP, and Domestic Demand 2007:Q1-2008:Q3; 3 The Collapse of Lehman and Its AftermathFigure 3.1 Emerging Europe: September 2008 Real GDP Growth Projections, 2004-09 TABLE 3.1 WEO Real GDP Growth Projections for Emerging Europe, 2007-10; Figure 3.2 Emerging Europe: Credit Default Swap Spreads; Figure 3.3 Emerging Europe: Emerging Market Bond Index Spreads; Figure 3.4 Emerging Europe: Stock Market Indices; TABLE 3.2 Emerging Europe: Gross International Sovereign Bond Issuance, 2008:Q1-2010:Q1; TABLE 3.3 Emerging Europe: External Positions of Western Banks vis-à-vis Emerging Europe, 2007-09TABLE 3.4 Emerging Europe: Volume of International Syndicated Loans Issuance to Banks in 2008Emerging Europe was particularly hard hit by the global financial crisis, but a concerted effort by local policymakers and the international community staved off impending financial meltdown and laid the foundations for renewed convergence with western Europe. This book, written by staff of the IMF's European Department that worked on the region at the time, provides a unique account of events: the origins of the crisis and the precrisis policy setting; the crisis trigger and the scramble to avoid the worst; the stabilization and recovery; the remaining challenges; and the lessons for the future. Five regional chapters provide the analytics to put events into perspective. Dedicated chapters for all 19 countries of the region dig deeper into the idiosyncrasies of each economy and provide extensive economic data. A final chapter distills the lessons from the overall regional experience and the wide intraregional diversity. Taken together, they make this book an indispensible reference for economic scholars of the region and beyond.BooksGlobal Financial Crisis, 2008-2009Financial crisesEuropeBanks and BankingimfExports and ImportsimfForeign ExchangeimfMoney and Monetary PolicyimfPublic FinanceimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfInternational InvestmentimfLong-term Capital MovementsimfNational Government Expenditures and Related Policies: GeneralimfMonetary SystemsimfStandardsimfRegimesimfGovernment and the Monetary SystemimfPayment SystemsimfBankingimfMonetary economicsimfInternational economicsimfCurrencyimfForeign exchangeimfPublic finance & taxationimfCreditimfCapital inflowsimfExpenditureimfExchange ratesimfMoneyimfCurrenciesimfBalance of paymentsimfExchange rate arrangementsimfBanks and bankingimfCapital movementsimfExpenditures, PublicimfHungaryimfGlobal Financial Crisis, 2008-2009.Financial crisesBanks and BankingExports and ImportsForeign ExchangeMoney and Monetary PolicyPublic FinanceBanksDepository InstitutionsMicro Finance InstitutionsMortgagesMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralInternational InvestmentLong-term Capital MovementsNational Government Expenditures and Related Policies: GeneralMonetary SystemsStandardsRegimesGovernment and the Monetary SystemPayment SystemsBankingMonetary economicsInternational economicsCurrencyForeign exchangePublic finance & taxationCreditCapital inflowsExpenditureExchange ratesMoneyCurrenciesBalance of paymentsExchange rate arrangementsBanks and bankingCapital movementsExpenditures, Public332.1/52Bakker Bas1803592Klingen Christoph1806562International Monetary Fund.DcWaIMFBOOK9910963797603321How Emerging Europe Came Through the 20084355806UNINA