LEADER 05674oam 22011894 450 001 9910220536403321 005 20250426110039.0 010 $a9786613871664 010 $a9781462392070 010 $a1462392075 010 $a9781452766188 010 $a1452766185 010 $a9781283559218 010 $a1283559218 010 $a9781451990256 010 $a1451990251 035 $a(CKB)3360000000444946 035 $a(EBL)1586849 035 $a(SSID)ssj0001324748 035 $a(PQKBManifestationID)11861578 035 $a(PQKBTitleCode)TC0001324748 035 $a(PQKBWorkID)11529216 035 $a(PQKB)10036943 035 $a(MiAaPQ)EBC1586849 035 $a(Au-PeEL)EBL1586849 035 $a(CaONFJC)MIL387166 035 $a(OCoLC)867926874 035 $a(IMF)WPIEE2010092 035 $a(IMF)WPIEA2010092 035 $aWPIEA2010092 035 $a(EXLCZ)993360000000444946 100 $a20020129d2010 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aBeyond the Crisis : $eRevisiting Emerging Europe?s Growth Model /$fRuben Atoyan 205 $aFirst edition. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2010. 215 $a1 online resource (48 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 08$a9781451982565 311 08$a1451982569 320 $aIncludes bibliographical references. 327 $aCover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Stylized Facts of Different Growth Models in Central and Eastern Europe; A. Clusters of External Vulnerability; 1. External Vulnerability Clusters; B. Stylized Facts; 2. Economic Growth Record; 3. Transition Indicators and Institutional Quality; 4. Capital Flows, Credit, and Domestic Demand; 5. External Sector Indicators; 6. Policy Indicators; III. Joint Determination of Economic Growth and External Vulnerability; A. Growth-Vulnerability Nexus; 7. Growth-Vulnerability Track Record 327 $aB. Potential Factors Determining the Growth ModelC. Econometric Methodology; D. Estimation Results; 1. Estimation Results for the Multinomial Logit Model; 2. Relative Risk Ratios from the Estimated Model; IV. Beyond the Crisis: Two Case Studies; 3. Slovakia and Croatia: Pre-Crisis Characteristics; 8. Slovakia: Predicted Probability of Growth-Vulnerability Clusters; 9. Croatia: Predicted Probability of Growth-Vulnerability Clusters; V. Policy Implications; Appendix I. Multivariate Hierarchical Cluster Analysis; References; Footnotes 330 3 $aFocusing on the nexus between economic growth and buildup of external vulnerabilities, this paper provides a systematic account of different growth strategies followed in Central and Eastern Europe in 2000-08 and then uses this growth diagnostics to derive implications for the post-crisis recovery. The main findings point to three policy lessons for improving growth sustainability. First, greater reliance on tradable sectors should be the cornerstone of the future growth model. Second, enhancing domestic sources of bank credit funding would contribute to mitigation of external vulnerabilities and make domestic financial system more resilient to global financial shocks. Third, prudential and macroeconomic policies will have to be more proactive in managing capital inflows, including funneling these inflows into investment in the export-oriented industries. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2010/092 606 $aFinancial crises 606 $aEconomic development 606 $aAggregate Factor Income Distribution$2imf 606 $aBalance of payments$2imf 606 $aCapital inflows$2imf 606 $aCapital movements$2imf 606 $aCredit$2imf 606 $aCurrent Account Adjustment$2imf 606 $aCurrent account deficits$2imf 606 $aDebts, External$2imf 606 $aExports and Imports$2imf 606 $aExternal debt$2imf 606 $aIncome$2imf 606 $aInternational economics$2imf 606 $aInternational Investment$2imf 606 $aInternational Lending and Debt Problems$2imf 606 $aLong-term Capital Movements$2imf 606 $aMacroeconomics$2imf 606 $aMonetary economics$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aMoney and Monetary Policy$2imf 606 $aShort-term Capital Movements$2imf 607 $aSlovak Republic$2imf 615 0$aFinancial crises. 615 0$aEconomic development. 615 7$aAggregate Factor Income Distribution 615 7$aBalance of payments 615 7$aCapital inflows 615 7$aCapital movements 615 7$aCredit 615 7$aCurrent Account Adjustment 615 7$aCurrent account deficits 615 7$aDebts, External 615 7$aExports and Imports 615 7$aExternal debt 615 7$aIncome 615 7$aInternational economics 615 7$aInternational Investment 615 7$aInternational Lending and Debt Problems 615 7$aLong-term Capital Movements 615 7$aMacroeconomics 615 7$aMonetary economics 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aMoney and Monetary Policy 615 7$aShort-term Capital Movements 676 $a338.542 700 $aAtoyan$b Ruben$0855108 801 0$bDcWaIMF 906 $aBOOK 912 $a9910220536403321 996 $aBeyond the Crisis$92189856 997 $aUNINA