Hungary and Other Emerging EU Countries in the Financial Storm

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  • Publisher : Springer Nature
  • Release : 18 August 2020
  • ISBN : 9783030495442
  • Page : 145 pages
  • Rating : 4.5/5 from 103 voters

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This book analyzes the banking crisis and the events surrounding it in Hungary and other emerging EU member countries in 2007-2013. Written by Júlia Király, a former policymaker, and the Deputy Governor of the Hungarian Central Bank at the time of the crisis, it also offers a firsthand account of the processes in and responses to the financial crisis. While there is extensive literature on the crisis, most of it focuses on the US or the Eurozone, sometimes mentioning the “emerging world” in passing. However, Central and Eastern Europe experienced the crisis very differently than other emerging countries. In the pre-crisis years, the region in accession to the EU attracted abundant fresh capital, but the seemingly unconstrained global liquidity fuelled credit bubbles. After the Lehman crisis, capital rapidly fled these countries. In this part of the world, the recession proved to be much worse than elsewhere, with double-digit growth soon turning into a double-digit decline in GDP. Several countries had to turn to the IMF and the EU for stand-by credit. Based on her own inside experience as a top central banker, the author offers a personal yet professional analysis of the causes and consequences of the financial hurricane.

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Hungary and Other Emerging EU Countries in the Financial Storm

Hungary and Other Emerging EU Countries in the Financial Storm
  • Author : Júlia Király
  • Publisher : Springer Nature
  • Release Date : 2020-08-18
  • ISBN : 9783030495442
GET THIS BOOKHungary and Other Emerging EU Countries in the Financial Storm

This book analyzes the banking crisis and the events surrounding it in Hungary and other emerging EU member countries in 2007-2013. Written by Júlia Király, a former policymaker, and the Deputy Governor of the Hungarian Central Bank at the time of the crisis, it also offers a firsthand account of the processes in and responses to the financial crisis. While there is extensive literature on the crisis, most of it focuses on the US or the Eurozone, sometimes

From Crisis to Recovery

From Crisis to Recovery
  • Author : T. Bracke,R. Martin
  • Publisher : Springer
  • Release Date : 2012-09-18
  • ISBN : 9781137034830
GET THIS BOOKFrom Crisis to Recovery

Emerging Europe has suffered a severe economic crisis in recent years, and is only gradually recovering; the prospects for a convergence with the rest of the EU are still uncertain. In this book policymakers, high-level practitioners and experts from central banks identify the main reasons for the crisis and the challenges for the recovery process.

National Intellectual Capital and the Financial Crisis in Bulgaria, Czech Republic, Hungary, Romania, and Poland

National Intellectual Capital and the Financial Crisis in Bulgaria, Czech Republic, Hungary, Romania, and Poland
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  • Publisher : Springer Science & Business Media
  • Release Date : 2013-09-13
  • ISBN : 9781461480181
GET THIS BOOKNational Intellectual Capital and the Financial Crisis in Bulgaria, Czech Republic, Hungary, Romania, and Poland

In the first decade of the twenty-first century, the biggest event of worldwide proportion was the 2008 global financial crisis, which was caused primarily by ineffective governance, failed surveillance systems, and implementation flaws. While fiscal and monetary policies succeeded in pulling many countries out of a financial freefall, most economies have performed beneath pre-recession levels as governments continued to struggle with their finances. Examining the financial crisis from the viewpoint of intangible assets provides a different perspective from traditional economic approaches.

Economics of European Crises and Emerging Markets

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  • Author : Peter Havlik,Ichiro Iwasaki
  • Publisher : Springer
  • Release Date : 2017-08-07
  • ISBN : 9789811052330
GET THIS BOOKEconomics of European Crises and Emerging Markets

This volume explores a wide range of case studies, analyses, histories, and polemics on the fate of post-socialist Europe- and why that matters to readers today. Nearly 30 years after the fall of the Berlin Wall, the post-socialist economies of the former East remain adrift, buffeted by the international financial crisis, the Ukraine crisis, and the ongoing instability in the European Union. This new book brings together a diverse range of scholars in offering a comprehensive look at the struggles faced

Capital Flows to Converging European Economies

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  • Author : European Commission. Directorate-General for Economic and Financial Affairs
  • Publisher : Unknown
  • Release Date : 2011
  • ISBN : 9279191470
GET THIS BOOKCapital Flows to Converging European Economies

Recoge: 1. Determinants of capital flows to the new EU Member States before and during the financial crisis - 2. Capital flows to converging European economies: crisis, reforms and DFI - 3. The dynamics of portfolio holdings in Emerging Europe - 4. The determinants of cross-border bank flows to emerging markets: new empirical evidence on the spread of financial crisis - 5. Cross-border flows and foreign banks in the global financial crisis, has Eastern Europe been different? - 6. The refinancing structure of banks in selected

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Emerging European Economies after the Pandemic
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  • Publisher : Springer Nature
  • Release Date : 2022-03-11
  • ISBN : 9783030939632
GET THIS BOOKEmerging European Economies after the Pandemic

This edited volume examines the development path of eight Central and Eastern European countries with an overlapping historical background that joined the European Union between 2004 and 2013, and identifies the main similarities and differences between the countries concerned. Based on wide comparative data analysis of Bulgaria, Croatia, The Czech Republic, Hungary, Poland, Romania, Slovakia, and Slovenia, each chapter in the volume provides detailed information about the state of the economy in a specific area preceding the pandemic shock. The book offers

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  • Publisher : International Monetary Fund
  • Release Date : 2012-08-31
  • ISBN : 9781616353810
GET THIS BOOKHow Emerging Europe Came Through the 2008/09 Crisis

Emerging Europe was particularly hard hit by the global financial crisis, but a concerted effort by local policymakers and the international community staved off impending financial meltdown and laid the foundations for renewed convergence with western Europe. This book, written by staff of the IMF's European Department that worked on the region at the time, provides a unique account of events: the origins of the crisis and the precrisis policy setting; the crisis trigger and the scramble to avoid the

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  • Publisher : Edward Elgar Publishing
  • Release Date : 2011-01-01
  • ISBN : 9780857932914
GET THIS BOOKPost-Crisis Growth and Integration in Europe

Against the backdrop of the financial crisis that unfolded in 2008, this book deals with policy challenges going forward, focusing in particular on the ongoing catching-up process in Central, Eastern and South-Eastern European (CESEE) countries. Whilst having emerged relatively unscathed from the crisis, the CESEE economies nonetheless need to adjust to the new external conditions they will encounter. In this respect, decision-makers are faced with multiple sources of uncertainty: will post-crisis growth be the same as pre-crisis growth? What will be

Financial Integration, Vulnerabilities to Crisis, and EU Accession in Five Central European Countries

Financial Integration, Vulnerabilities to Crisis, and EU Accession in Five Central European Countries
  • Author : Mustapha K. Nabli
  • Publisher : World Bank Publications
  • Release Date : 1999-01-01
  • ISBN : 0821345060
GET THIS BOOKFinancial Integration, Vulnerabilities to Crisis, and EU Accession in Five Central European Countries

'A major source of vulnerability in the CE5 is their nascent financial systems and their ability to handle large and increasing volume of capital. As the experience of East Asia demonstrates, a high priority should be given to improving the quality and performance of the banking system.'- From 'Financial Integration, Vulnerabilities to Crisis, and EU Accession in Five Central European Countries'The objective of this study is to help assess the possible vulnerabilities in a number of Central European countries

Economic Crisis in Europe

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  • Author : J. DeBardeleben,C. Viju
  • Publisher : Springer
  • Release Date : 2013-02-27
  • ISBN : 9781137005236
GET THIS BOOKEconomic Crisis in Europe

The financial crisis of 2008-09 took an unexpected turn upon challenging a core symbol of Europe's integration project, the Euro. In this volume, leading experts tackle questions on the capacity of the EU to respond, the manner discontent electorates will hold their leaders to account, and the implications for Europe's future relations with Russia.

The Euro and Economic Stability

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  • Publisher : Edward Elgar Publishing
  • Release Date : 2010-01-01
  • ISBN : 9781849805698
GET THIS BOOKThe Euro and Economic Stability

The Euro and Economic Stability assesses the euro area's merits as a shelter and the merits of euro assets as a safe haven and reviews the case for rapid euro adoption from a post-crisis view. Policymakers and economists provide relevant lessons from euro area divergences for future euro area members and, more generally, from the financial crisis, while banking representatives discuss post-crisis business models of banks in the area. Last but not least, a theoretical introductory chapter fills the gap

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  • Publisher : Springer Science & Business Media
  • Release Date : 2010-07-23
  • ISBN : 9783642125164
GET THIS BOOKFive Years of an Enlarged EU

The Fifth Enlargement that took place in 2004 and 2007 was a milestone in the history of the European Union. Not only because of the large number of acceding countries but also because of their recent political and economic experience. Ten of them had undergone a profound transition from a totalitarian regime to democracy, and from a centrally planned economy to a market-based system. Most of them had income levels signi?cantly below those of the then EU-15. Now, 6 years later, we

How Emerging Europe Came Through the 2008/09 Crisis

How Emerging Europe Came Through the 2008/09 Crisis
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  • Publisher : International Monetary Fund
  • Release Date : 2012-08-25
  • ISBN : 9781475581867
GET THIS BOOKHow Emerging Europe Came Through the 2008/09 Crisis

Emerging Europe was particularly hard hit by the global financial crisis, but a concerted effort by local policymakers and the international community staved off impending financial meltdown and laid the foundations for renewed convergence with western Europe. This book, written by staff of the IMF's European Department that worked on the region at the time, provides a unique account of events: the origins of the crisis and the precrisis policy setting; the crisis trigger and the scramble to avoid the

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Credit Growth in Emerging Europe
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  • Publisher : World Bank Publications
  • Release Date : 2007
  • ISBN : 0987654321XXX
GET THIS BOOKCredit Growth in Emerging Europe

High credit growth in Emerging Europe, generally considered a sign of catching-up with the "old" Europe, has begun receiving considerable attention among investors and policymakers alike. Given heightened global risks and the demands under the European Union accession process, the need to better understand this high credit growth's drivers, riskiness, and the possible macroeconomic and financial stability consequences is strong. The authors adopt a holistic approach in reviewing the rapid credit growth experienced in the region, examining macroeconomic, financial sector,

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  • Publisher : Edward Elgar Publishing
  • Release Date : 2012-01-01
  • ISBN : 9781781009505
GET THIS BOOKEuropean Integration in a Global Economy

ÔThe emergence of the BRICs and of China in particular has played an important if underappreciated role to the competitive difficulties of Greece, Portugal and other Southern European countries. The contributors to this volume warn that similar challenges now confront the economies of Eastern and South-Eastern Europe, many of which compete head to head with China in international markets. More reassuringly, the authors also specify an agenda for structural adjustment, product upgrading and deeper integration with Western Europe that offers