LEADER 06092oam 22012374 450 001 9910973831803321 005 20250426110926.0 010 $a9786612842894 010 $a9781462357796 010 $a1462357792 010 $a9781452768236 010 $a1452768234 010 $a9781282842892 010 $a1282842897 010 $a9781451872156 010 $a1451872151 035 $a(CKB)3170000000055238 035 $a(EBL)1608238 035 $a(SSID)ssj0001475955 035 $a(PQKBManifestationID)11788004 035 $a(PQKBTitleCode)TC0001475955 035 $a(PQKBWorkID)11491439 035 $a(PQKB)10927972 035 $a(OCoLC)586104395 035 $a(IMF)WPIEE2009068 035 $a(MiAaPQ)EBC1608238 035 $a(IMF)WPIEA2009068 035 $aWPIEA2009068 035 $a(EXLCZ)993170000000055238 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFive Years After : $eEuropean Union Membership and Macro-Financial Stability in the New Member States /$fMartin Cihak, Wim Fonteyne 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (69 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 08$a9781451916508 311 08$a1451916507 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. Macro-Financial Performance and Vulnerabilities; A. Economic and Financial Integration; B. Rapid Economic Growth; C. Exchange Rates and Prices; D. Risks and Vulnerabilities; III. Impact of EU Membership: Preliminary Evidence; A. EU Membership and Economic Growth; Boxes; 1. Estimating the Impact of EU Membership on Output Growth; B. EU Membership and Macroeconomic Stability; 2. Euro Area Accession: Experiences of Slovenia and Slovakia; C. EU Membership and Structural Policies; D. EU Membership, Financial Integration, and Financial Stability 327 $a3. Quality of Regulatory and Supervisory Frameworks in NMSE. EU Membership and Macroeconomic Crisis Management; IV. Conclusions; 4. EU and Balance of Payments Support to Hungary and Latvia; Tables; 1. Macroeconomic Performance in the NMS and Other Emerging Market Economies; 2. Explaining Spreads on Sovereign Bonds; 3. Explaining Inflation Performance; 4. Explaining Fiscal Performance; 5. Explaining Structural Reforms; 6. Lisbon Scorecards; 7. Prudential Supervision in NMS and Other Countries; 8. Financial Soundness Indicators in NMS and Other Countries; Figures 327 $a1. Growth Performance in the NMS and Other Economies 2. Financial Market Vulnerability Indicators in the NMS, 2006-08; 3. Performance vis-a?-vis Maastricht Criteria, 2004-08; 4. NMS: Export Share in the World Market, 2000-07; 5. Emerging Europe: Market Indicators in the Crisis; Appendixes; I. Analyzing the 'Halo Effect' in NMS Countries; II. Crisis Response Measures in Selected NMS Countries; III. The De Larosie?re Proposals-What is at Stake for the NMS?; References 330 3 $aThe proximity of the European Union, the prospect of membership, and actual entry by the New Member States (NMS) increased economic and financial integration in the region, leading to fast economic growth based on sizeable capital inflows. EU membership helped in developing sound macroeconomic and financial stability frameworks in the NMS. However, these frameworks remain work in progress and as such could not safeguard against private sector exuberance or risky policies, especially in the face of an unprecedented global financial crisis. Hence, more prudent policies and further strengthening of policy frameworks, especially with respect to financial stability, seem warranted. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/068 606 $aFinance$zEuropean Union countries 606 $aBanking$2imf 606 $aBanks and Banking$2imf 606 $aBanks and banking$2imf 606 $aBanks$2imf 606 $aDeflation$2imf 606 $aDepository Institutions$2imf 606 $aEconomic & financial crises & disasters$2imf 606 $aEmerging and frontier financial markets$2imf 606 $aFinance$2imf 606 $aFinance: General$2imf 606 $aFinancial Crises$2imf 606 $aFinancial integration$2imf 606 $aFinancial services industry$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aGlobal financial crisis of 2008-2009$2imf 606 $aGlobal Financial Crisis, 2008-2009$2imf 606 $aInflation$2imf 606 $aInternational finance$2imf 606 $aMacroeconomics$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aPrice Level$2imf 606 $aPrices$2imf 607 $aHungary$2imf 615 0$aFinance 615 7$aBanking 615 7$aBanks and Banking 615 7$aBanks and banking 615 7$aBanks 615 7$aDeflation 615 7$aDepository Institutions 615 7$aEconomic & financial crises & disasters 615 7$aEmerging and frontier financial markets 615 7$aFinance 615 7$aFinance: General 615 7$aFinancial Crises 615 7$aFinancial integration 615 7$aFinancial services industry 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aGlobal financial crisis of 2008-2009 615 7$aGlobal Financial Crisis, 2008-2009 615 7$aInflation 615 7$aInternational finance 615 7$aMacroeconomics 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aPrice Level 615 7$aPrices 676 $a332.152 700 $aCihak$b Martin$01106217 701 $aFonteyne$b Wim$01810673 801 0$bDcWaIMF 906 $aBOOK 912 $a9910973831803321 996 $aFive Years After$94371922 997 $aUNINA