The Last Shall Be the First : the East European Financial Crisis.

The Last Shall Be the First : the East European Financial Crisis.

Many argue that Europe has performed anemically as it struggles to recover from the global crisis. But, Anders Åslund argues that the East European countries have masterfully handled the crisis. The Last Shall Be the First: East European Financial Crisis isolates the causes of the crisis in Eastern...

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Bibliographic Details
Format: eBook
Language:English
Published: Peterson Institute for International Economics 2010.
Subjects:
Financial crises > Europe, Eastern.
Banks and banking > Europe, Eastern.
Banks and banking
Economic policy
Financial crises
Europe, Eastern > Economic policy.
Eastern Europe
Online Access:Click for online access
Table of Contents:
  • Cover
  • Preface
  • Acknowledgments13;
  • Map13;
  • Ch 1 Introduction13;
  • What Went Wrong and How It Was Fixed
  • Maastricht Criteria and Euro Adoption
  • Parallels to the East Asian Financial Crisis of 19978211;98
  • Structure of the Book
  • Ch 2 Causes and Eruption of the Financial Crisis13;
  • Causes of the Crisis
  • Eruption of the Crisis
  • Ch 3 Political Economy of Crisis Resolution 13;
  • Hungary: Straightforward Crisis Resolution
  • Latvia: The Most Complex Stabilization
  • Romania: All About Politics
  • Lithuania, Estonia, and Bulgaria: Robust Anticrisis Policy without the IMF13;
  • Poland, the Czech Republic, Slovakia, and Slovenia: No Serious Overheating or Crisis13;
  • Fast Financial Adjustment
  • Ch 4 The Exchange Rate Dilemma13;
  • The Baltic Exchange Rate Conundrum
  • Why Latvia Did Not Have to Devalue Like Argentina
  • Multiple Exchange Rate Options Remain
  • Ch 5 The Banking Crisis that Never Materialized13;
  • West European Banks Expand in the East
  • The Vienna Initiative
  • Ch 6 International Cooperation in Crisis13;
  • International Monetary Fund: Financial Savior
  • European Union: The Rookie
  • European Central Bank: Voldemort
  • The United States: Keeping a Low Profile
  • World Bank: The Third Fiddle
  • A New Pattern of International Financial Crisis Resolution
  • Ch 7 Why Eastern Europe Acted So Responsibly 13;
  • Strong Center-Right Tendency in Elections
  • Causes of Popular Fiscal Restraint
  • Ch 8 Eastern Europe and the Fiscal Crisis in the Eurozone13;
  • The Greek Tragedy
  • The Greek Rescue Package of May 2, 2010
  • The South European Rescue Package, May 98211;10, 2010
  • East European Lessons Dawn on the Eurozone
  • Ch 9 Toward European Convergence13;
  • Outcome of the Crisis in Eastern Europe
  • EU Convergence or Divergence?
  • The Last Shall Be the First.

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