What Moves Capital To Transition Economies
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What Moves Capital To Transition Economies
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Author : Nada Mora
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2002-04-01
What Moves Capital To Transition Economies written by Nada Mora and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-04-01 with categories.
Between 1991 and 1999, capital flows to 25 transition economies in Europe and the former Soviet Union differed widely in terms of overall levels and the share and composition of private flows. With some exceptions (notably Russia), the main form of private inflows was foreign direct investment. Portfolio investment was volatile and concentrated in a handful of countries. Regressions show that direct investment can be well explained in terms of economic fundamentals, whereas the presence of a financial market infrastructure and a property-rights indicator are the only explanatory variables that seem to have had a robust effect on portfolio investment.
What Moves Capital To Transition Economies
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Author : Pietro Garibaldi
language : en
Publisher:
Release Date : 2013
What Moves Capital To Transition Economies written by Pietro Garibaldi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Between 1991 and 1999, capital flows to 25 transition economies in Europe and the former Soviet Union differed widely in terms of overall levels and the share and composition of private flows. With some exceptions (notably Russia), the main form of private inflows was foreign direct investment. Portfolio investment was volatile and concentrated in a handful of countries. Regressions show that direct investment can be well explained in terms of economic fundamentals, whereas the presence of a financial market infrastructure and a property-rights indicator are the only explanatory variables that seem to have had a robust effect on portfolio investment.
Capital Liberalization In Transition Countries
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Author : Age Bakker
language : en
Publisher: Edward Elgar Publishing
Release Date : 2003-01-01
Capital Liberalization In Transition Countries written by Age Bakker and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-01-01 with Business & Economics categories.
'This collection provides an excellent account of the diverging ways countries in varying parts of the world went about liberalizing capital flows. Case studies of transition countries are set against the background of more general studies analysing the Asian and Latin American experience, as well as the earlier liberalization processes in economically advanced countries. The reader gets a lively picture of the many pitfalls that beset the road to full capital liberalization and will realise that there is no single best way to liberalize. The authors strike one as unprejudiced and far from dogmatic, out to learn from experience rather than trying to impose some particular point of view.' - Hans Visser, Vrije Universiteit, Amsterdam, The Netherlands This significant new book provides a succinct overview of the essential policy issues surrounding capital liberalization. The book compares the experiences of transition economies in Europe with those of advanced nations, allowing the reader to examine the changing international economic and financial environment within which transition countries have to liberalize.
Capital Flows To Transition Economies
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Author : Mr.Timothy D. Lane
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2002-01-01
Capital Flows To Transition Economies written by Mr.Timothy D. Lane and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-01-01 with Business & Economics categories.
This paper discusses the forces driving capital flows in the transition countries of Central and Eastern Europe (CEE). It argues that various influences—specifically, the real exchange rate history and trend and the factor intensity of production—can combine to motivate very large capital inflows. These inflows can either undermine attempts at monetary restraint or force excessive appreciations. They can also render the economy highly vulnerable to shifts in market sentiment. The policy implications of the analysis are awkward: exposure to global capital markets sets up difficult dilemmas for policy and leads to vulnerabilities that can be reduced but not eliminated.
The Dynamics Of Capital Structure In Transition Economies
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Author :
language : en
Publisher:
Release Date : 2000
The Dynamics Of Capital Structure In Transition Economies written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with categories.
Exchange Rate Regimes In Selected Advanced Transition Economies
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2000-04-01
Exchange Rate Regimes In Selected Advanced Transition Economies written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-04-01 with Business & Economics categories.
Since beginning economic transition, the Czech Republic, Estonia, Hungary, Poland, and Slovenia have—with much success—employed diverse exchange rate regimes. As these countries approach EU accession, they will need to avoid the perils of too much or too little exchange rate variability when capital flows are likely to be large and volatile; narrow band arrangements in particular could be problematic. The exception is Estonia, where there are good arguments for retaining the currency board arrangement. Countries wishing to join the euro area at an early stage should not leave the removal of remaining capital controls to the last minute.
Transition Economies
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Author : Gergõ M. Lakatos
language : en
Publisher: Nova Publishers
Release Date : 2008
Transition Economies written by Gergõ M. Lakatos and has been published by Nova Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Business & Economics categories.
A transition economy is an economy which is changing from a planned economy to a free market. Transition economies undergo economic liberalisation (letting market forces set prices and lowering trade barriers), macroeconomic stabilisation where immediate high inflation is brought under control, and restructuring and privatisation in order to create a financial sector and move from public to private ownership of resources. These changes often may lead to increased inequality of incomes and wealth, dramatic inflation and a fall of GDP. Transition process is usually characterised by the changing and creating of institutions, particularly private enterprises; changes in the role of the state, thereby, the creation of fundamentally different governmental institutions and the promotion of private-owned enterprises, markets and independent financial institutions. This new book presents the latest research from around the world in this field.
Going Global
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Author : Padma Desai
language : en
Publisher: MIT Press
Release Date : 1997
Going Global written by Padma Desai and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Business & Economics categories.
The transition of the former socialist and otherwise centrally planned economies into the world trading and financial system has become a major concern to both policymakers and social scientists. In this book experts from diverse economies address the principal issues raised by this transition. The chapters, which cover fourteen countries of East and Central Europe, the former Soviet Union, and Asia, are the result of a three-year research project. Although the contributors share a unity of design and analysis, each author focuses on the issues most relevant to the country or countries under discussion.In her introductory essay, project leader Padma Desai synthesizes the findings and cuts through recent analytical confusion over such issues as shock therapy versus gradualism. Rather than advocate the faster the better, she discusses the possible difficulty of sustaining rapid transition reforms and globalization in the face of rising unemployment.The countries discussed are the Czech Republic, Hungary, the German Democratic Republic (now eastern Germany), Poland, Estonia, Latvia, Lithuania, Finland, Russia, Kazakhstan, Uzbekistan, China, Vietnam, and India.Contributors : The Czech Republic, Josef C. Brada and A. M. Kutan. Hungary, Andras Blaho and Peter Gal. East Germany, Jürgen von Hagen. Poland, Stanislaw Wellisz. Lithuania, Latvia, and Estonia, Kalev Kukk. Finland, Urpo Kivikari. Russia, Padma Desai. Kazakhstan, Heiner Flassbeck, Lutz Hoffman, and Ludger Lindlar. Uzbekistan, Michael Connolly. China, Richard S. Eckaus. Vietnam, David Dollar and Borje Ljunggren. India, Manmohan Agarwal.
Foreign Capital And Economic Transformation
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Author : Claudia M. Buch
language : en
Publisher:
Release Date : 1999
Foreign Capital And Economic Transformation written by Claudia M. Buch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Capital market categories.
The advanced transition economies in Central and Eastern Europe have not only liberalized and reoriented their trade relations during the past decade, they have been able to attract quite substantial amounts of foreign capital. This has helped to rebuild their capital stocks which the transformation process had rendered partly obsolete. At the same time, the recent financial crises in Asia and Russia have heightened concerns about a speedy liberalization of capital flows, and controls on short-term capital flows are frequently being advocated. This study traces the evidence available from four reform countries -- the Czech Republic, Estonia, Hungary, and Poland -with capital market integration. Its main result is that domestic policies can have a substantial impact on the structure of capital flows and on the ability of emerging markets such as the transition economies to deal with adverse external shocks. Taxing capital flows cannot serve as a substitute for prudent policies. The available evidence suggests, rather, that the imposition of capital controls itself can be a cause of fluctuations of exchange rates and that controls on cross-border capital flows are difficult to enforce. Covering both the theoretical and empirical aspects of capital market integration of transition economies, this book will be of interest to scholars and students of economics, to international and national organizations dealing with economic issues, and to research institutes, banks and financial institutions.
The Transition Economies After Ten Years
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Author : Stanley Fischer
language : en
Publisher:
Release Date : 2000
The Transition Economies After Ten Years written by Stanley Fischer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Economic stabilization categories.
While output declined in virtually all transition economies in the initial years, the speed and extent of the recovery that followed has varied widely across these countries. The contrast between the more and less successful transitions, the latter largely in the former Soviet Union, raises many questions about the relative roles played by adverse initial conditions, external factors, and reform strategies. This paper summarizes the macroeconomic performance of the transition economies. We first review the initial conditions confronting these economies, the reform strategy that was proposed, and the associated controversies that arose a decade ago. We then account for the widely different outcomes, highlighting the role of exogenous factors and the macroeconomic and structural policies adopted by the countries. We find that both stabilization policies and structural reforms, particularly privatization, contributed to the growth recovery. We also conclude that the faster is the speed of reforms, the quicker is the recovery and the higher is growth.