LEADER 08650oam 22015134 450 001 9910828601103321 005 20240402045100.0 010 $a1-4755-5365-X 010 $a1-4755-0511-6 010 $a1-4755-8186-6 035 $a(CKB)2670000000246798 035 $a(EBL)1606620 035 $a(SSID)ssj0000803591 035 $a(PQKBManifestationID)11431450 035 $a(PQKBTitleCode)TC0000803591 035 $a(PQKBWorkID)10824116 035 $a(PQKB)11723475 035 $a(Au-PeEL)EBL1606620 035 $a(CaPaEBR)ebr10605256 035 $a(OCoLC)870244755 035 $a(IMF)HEECEE 035 $a(IMF)HEECEA 035 $a(MiAaPQ)EBC1606620 035 $a(EXLCZ)992670000000246798 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aHow Emerging Europe Came Through the 2008/09 Crisis : $eAn Account by the Staff of the IMF's European Department /$fBas Bakker, Christoph Klingen 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (349 p.) 300 $aDescription based upon print version of record. 311 $a1-61635-381-3 320 $aIncludes bibliographical references and index. 327 $aCover; 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, 2003-08 327 $aFigure 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, 2003-08 327 $aFigure 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-a?-vis Selected Regions; TABLE 1.6 Real GDP Growth Consensus Forecast 327 $aPART 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-a?-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 Aftermath 327 $aFigure 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-a?-vis Emerging Europe, 2007-09 327 $aTABLE 3.4 Emerging Europe: Volume of International Syndicated Loans Issuance to Banks in 2008 330 3 $aEmerging Europe was particularly hard hit by the global financial crisis, but a concerted effort by local policymakers and the international community staved off impending financial meltdown and laid the foundations for renewed convergence with western Europe. This book, written by staff of the IMF's European Department that worked on the region at the time, provides a unique account of events: the origins of the crisis and the precrisis policy setting; the crisis trigger and the scramble to avoid the worst; the stabilization and recovery; the remaining challenges; and the lessons for the future. Five regional chapters provide the analytics to put events into perspective. Dedicated chapters for all 19 countries of the region dig deeper into the idiosyncrasies of each economy and provide extensive economic data. A final chapter distills the lessons from the overall regional experience and the wide intraregional diversity. Taken together, they make this book an indispensible reference for economic scholars of the region and beyond. 410 0$aBooks 606 $aGlobal Financial Crisis, 2008-2009 606 $aFinancial crises$zEurope 606 $aBanks and Banking$2imf 606 $aExports and Imports$2imf 606 $aForeign Exchange$2imf 606 $aMoney and Monetary Policy$2imf 606 $aPublic Finance$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aInternational Investment$2imf 606 $aLong-term Capital Movements$2imf 606 $aNational Government Expenditures and Related Policies: General$2imf 606 $aMonetary Systems$2imf 606 $aStandards$2imf 606 $aRegimes$2imf 606 $aGovernment and the Monetary System$2imf 606 $aPayment Systems$2imf 606 $aBanking$2imf 606 $aMonetary economics$2imf 606 $aInternational economics$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aPublic finance & taxation$2imf 606 $aCredit$2imf 606 $aCapital inflows$2imf 606 $aExpenditure$2imf 606 $aExchange rates$2imf 606 $aMoney$2imf 606 $aCurrencies$2imf 606 $aBalance of payments$2imf 606 $aExchange rate arrangements$2imf 606 $aBanks and banking$2imf 606 $aCapital movements$2imf 606 $aExpenditures, Public$2imf 607 $aHungary$2imf 615 0$aGlobal Financial Crisis, 2008-2009. 615 0$aFinancial crises 615 7$aBanks and Banking 615 7$aExports and Imports 615 7$aForeign Exchange 615 7$aMoney and Monetary Policy 615 7$aPublic Finance 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aInternational Investment 615 7$aLong-term Capital Movements 615 7$aNational Government Expenditures and Related Policies: General 615 7$aMonetary Systems 615 7$aStandards 615 7$aRegimes 615 7$aGovernment and the Monetary System 615 7$aPayment Systems 615 7$aBanking 615 7$aMonetary economics 615 7$aInternational economics 615 7$aCurrency 615 7$aForeign exchange 615 7$aPublic finance & taxation 615 7$aCredit 615 7$aCapital inflows 615 7$aExpenditure 615 7$aExchange rates 615 7$aMoney 615 7$aCurrencies 615 7$aBalance of payments 615 7$aExchange rate arrangements 615 7$aBanks and banking 615 7$aCapital movements 615 7$aExpenditures, Public 676 $a332.1/52 700 $aBakker$b Bas$01646873 701 $aKlingen$b Christoph$01646874 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910828601103321 996 $aHow Emerging Europe Came Through the 2008$93994112 997 $aUNINA