The mixed blessing of financial inflows : transition countries in comparative perspective
Author(s)
Bibliographic Information
The mixed blessing of financial inflows : transition countries in comparative perspective
Edward Elgar , IIASA, c1999
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Note
"In association with the Ludwig Boltzmann Institute for Economic Policy Analysis, Vienna, Austria"
Includes bibliographical references and index
Description and Table of Contents
Description
The successful macroeconomic stabilization in Central and Eastern European countries has encouraged inflows of foreign capital badly needed to promote economic development. Strikingly, these countries have found capital inflows in their various forms to be a mixed blessing, threatening the macroeconomic balance that they have recently achieved. These countries have learned that it is not easy to continue to attract foreign capital and simultaneously to reduce its adverse effects on inflation, the exchange rate and the current account, and to contain disturbances resulting from reversals of the flows. This book investigates recent experiences in Central and Eastern Europe and contrasts it with that of Latin America and East Asia, and suggests appropriate policies and lessons to be learned. The authors conclude that many features of, and policy dilemmas faced by, formerly centrally planned economies in Europe are similar to those in other emerging economies. However, certain unique characteristics such as data limitations and the fragility of the banking and financial systems, compound the problems faced by policy makers in Central and Eastern Europe.
This book will prove invaluable to policymakers and scholars interested in and responsible for international finance in transition economies.
Table of Contents
Contents: Introduction Part I: The Background: Capital Inflow Episodes and Their Lessons in Asia and Latin America 1. Macroeconomic Policy Issues Raised by Capital Inflows 2. Sustainable and Excessive Current Account Deficits 3. Capital Inflows to Asia: The Role of Monetary Policy 4. The Effectiveness of Capital Controls: Theory and Evidence from Chile Part II: Recent Experience in More Advanced Transition Countries 5. Capital Inflows to Hungary and Accompanying Policy Responses, 1995-1996 6. Financial Inflows to Poland, 1990-1996 7. Capital Inflows to the Baltic States, 1992-1996 8. Financial Flows to a Small Open Economy: The Case of Slovenia Summary Index
by "Nielsen BookData"