Private Kapitalzuflüsse in die dynamischen Länder Asiens
die Bedeutung der internationalen Finanzierungsstrukturen für die Krise
Central and East European countries
prone to currency crisis?
Central and East European countries: prone to currency crisis?
Abstract: "Central and East European Countries (CEECs) have liberalised foreign trade almost completely and capital flows quite extensively. All have balance of trade deficits. Experts are worried because in some the current account deficit is high...
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Abstract: "Central and East European Countries (CEECs) have liberalised foreign trade almost completely and capital flows quite extensively. All have balance of trade deficits. Experts are worried because in some the current account deficit is high and still rising. Current account deficits could be an indicator of domestic companies' low competitiveness. However, also the contrary could be the case: The country's more dynamic industries may try to increase their position vis-a-vis foreign competitors through massive import of advanced technology, in this way enlarging the trade deficit. Not surprisingly, there are no clear indicators to warn of imminent crisis. Nor is there a generally accepted strategy for reducing proneness to crisis. During the financial crisis in East Asia, analysts identified current account deficits and the banking systems' fragility as the main financial problems. These can also be observed in CEECs. It is not just these current account deficits which continue to pla
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