Managing capital flows: Experiences from Central and Eastern Europe

Arbeitspapier

The countries of Central and Eastern Europe went from being largely closed to being largely open to international capital flows. This paper discusses their experience with capital account liberalization and coping with large capital inflows. We start with a discussion of basic economic characteristics and the real convergence achieved so far, and then discuss the pace and sequencing of capital account liberalization and the degree of international financial integration over the past decade. We then analyze trends and patterns of capital inflows in these countries in recent years. These stylized facts are useful for understanding the macroeconomic implications and policy challenges of coping with large capital inflows, which we discuss next. Finally we conclude with policy implications for emerging Asian economies.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: ADBI Discussion Paper ; No. 103

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Financial Markets and the Macroeconomy ; Financial Aspects of Economic Integration ; Open Economy Macroeconomics
• Thema: Kapitalmobilität ; Wirtschaftsintegration ; Kapitalverkehrspolitik ; Kapitalmarktliberalisierung ; Ostmitteleuropa ; Asien

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Hagen, Jürgen von ; Siedschlag, Iulia
• Ereignis: Veröffentlichung
• (wer): Asian Development Bank Institute (ADBI)
• (wo): Tokyo
• (wann): 2008

Weitere Informationen

• Handle: http://hdl.handle.net/10419/53436
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ