A New Model for Balanced Growth and Convergence
Achieving Economic Sustainability in CESEE Countries
Published on 31. October 2013
Book
Hardback
264 pages
978-1-78254-816-4 (ISBN)
Description
This topical book addresses the need for emerging economies in Central, Eastern and South-Eastern Europe to find a new, sustainable growth model that fosters continued convergence with the EU without leading to the build-up of new vulnerabilities.The expert contributions frame the discussion on balanced growth in Europe, deal with the legacy of the old growth model (such as managing disrupted capital flows and deleveraging), and provide insights from the growth strategies of Russia and Turkey as well as the adjustment process of successful small CESEE countries. They focus on providing a multi-disciplinary assessment, combining the views of policy-makers and academics with those of central and commercial bankers.
This book will prove a thought-provoking read for academics, researchers and students in the fields of economics - particularly international economics - and finance, money and banking. Policy-makers and economists interested in European integration and emerging European economies will also find this book to be an invaluable resource.
Contributors: A.F. Aysan, G. Bisagni, D. Bogov, M. Dabrowski, M. Ferrazzi, A. Filardo, M. Gaechter, L. Gattini, M.H. Gueler, A. Hansson, S. Honkapohja, R. Jela i , K. Knot, I. Korhonen, A. Krstevska, E. Liikanen, E. Nowotny, C. Orman, E. Plato, P. Pumberger, M. Randveer, D. Revoltella, A. Riedl, D. Ritzberger-Gruenwald, K. Sonin, E. Tuomi, S. Verkaart
This book will prove a thought-provoking read for academics, researchers and students in the fields of economics - particularly international economics - and finance, money and banking. Policy-makers and economists interested in European integration and emerging European economies will also find this book to be an invaluable resource.
Contributors: A.F. Aysan, G. Bisagni, D. Bogov, M. Dabrowski, M. Ferrazzi, A. Filardo, M. Gaechter, L. Gattini, M.H. Gueler, A. Hansson, S. Honkapohja, R. Jela i , K. Knot, I. Korhonen, A. Krstevska, E. Liikanen, E. Nowotny, C. Orman, E. Plato, P. Pumberger, M. Randveer, D. Revoltella, A. Riedl, D. Ritzberger-Gruenwald, K. Sonin, E. Tuomi, S. Verkaart
More details
Language
English
Place of publication
Cheltenham
United Kingdom
Target group
College/higher education
Dimensions
Height: 234 mm
Width: 156 mm
ISBN-13
978-1-78254-816-4 (9781782548164)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Persons
Edited by Ewald Nowotny, former Governor, Oesterreichische Nationalbank, Peter Mooslechner, formerly Oesterreichische Nationalbank and Doris Ritzberger-Gruenwald, Director, Oesterreichische Nationalbank, Austria
Content
Contents:
Preface
PART I: FRAMING THE DISCUSSION ON BALANCED GROWTH IN EUROPE
1. The Necessity of Sustainable Growth and Continued Income Convergence in Europe
Ewald Nowotny
2. Changes in Banking in the Run-up to the Crisis
Erkki Liikanen
3. Restarting Growth in Europe after the Great Recession: CEE versus Other Countries
Seppo Honkapohja and Iikka Korhonen
4. The European Debt Crisis and a Stable Design of EMU
Klaas Knot and Silvie Verkaart
PART II: STOP AND GO OF CAPITAL FLOWS AND DELEVERAGING
5. Managing Stop-Go Capital Flows in Asian Emerging Markets: Lessons for the CESEE Economies
Andrew Filardo
6. CESEE Banks Deleveraging or Rebalancing? Lessons from the EIB Bank Lending Survey
Luca Gattini and Debora Revoltella
7. Managing Capital Flows in a Globalized Economy
Marek Dabrowski
PART III: GROWTH STRATEGIES OF EU NEIGHBOURING COUNTRIES: RUSSIA AND TURKEY
8. Russia in 2012: The Challenge of Reforming the Economy Without a Political Reform
Konstantin Sonin
9. Sustaining Growth in Emerging Markets: The Role of Structural and Monetary Policies
Ahmet Faruk Aysan, Mustafa Haluk Gueler and Cueneyt Orman
PART IV: SMALL-COUNTRY EXPERIENCES IN ECONOMIC ADJUSTMENT
10. Business Cycle Convergence or Decoupling? Economic Adjustment of CESEE Countries During the Crisis
Martin Gaechter, Aleksandra Riedl and Doris Ritzberger-Gruenwald
11. South-Eastern Europe: Impacts from the Crisis, Vulnerabilities and Adjustments
Dimitar Bogov and Aneta Krstevska
12. Economic Adjustment in the Baltic Countries
Ardo Hansson and Martti Randveer
PART V: A PRACTITIONER'S VIEW
13. Basel III from a Practitioner's Perspective
Esa Tuomi and Eriks Plato
14. Banks' Challenges in Central and Eastern Europe
Radovan Jelasic
15. Banking in CEE: Less Growth, More Balance
Gianfranco Bisagni, Matteo Ferrazzi and Pia Pumberger
Index
Preface
PART I: FRAMING THE DISCUSSION ON BALANCED GROWTH IN EUROPE
1. The Necessity of Sustainable Growth and Continued Income Convergence in Europe
Ewald Nowotny
2. Changes in Banking in the Run-up to the Crisis
Erkki Liikanen
3. Restarting Growth in Europe after the Great Recession: CEE versus Other Countries
Seppo Honkapohja and Iikka Korhonen
4. The European Debt Crisis and a Stable Design of EMU
Klaas Knot and Silvie Verkaart
PART II: STOP AND GO OF CAPITAL FLOWS AND DELEVERAGING
5. Managing Stop-Go Capital Flows in Asian Emerging Markets: Lessons for the CESEE Economies
Andrew Filardo
6. CESEE Banks Deleveraging or Rebalancing? Lessons from the EIB Bank Lending Survey
Luca Gattini and Debora Revoltella
7. Managing Capital Flows in a Globalized Economy
Marek Dabrowski
PART III: GROWTH STRATEGIES OF EU NEIGHBOURING COUNTRIES: RUSSIA AND TURKEY
8. Russia in 2012: The Challenge of Reforming the Economy Without a Political Reform
Konstantin Sonin
9. Sustaining Growth in Emerging Markets: The Role of Structural and Monetary Policies
Ahmet Faruk Aysan, Mustafa Haluk Gueler and Cueneyt Orman
PART IV: SMALL-COUNTRY EXPERIENCES IN ECONOMIC ADJUSTMENT
10. Business Cycle Convergence or Decoupling? Economic Adjustment of CESEE Countries During the Crisis
Martin Gaechter, Aleksandra Riedl and Doris Ritzberger-Gruenwald
11. South-Eastern Europe: Impacts from the Crisis, Vulnerabilities and Adjustments
Dimitar Bogov and Aneta Krstevska
12. Economic Adjustment in the Baltic Countries
Ardo Hansson and Martti Randveer
PART V: A PRACTITIONER'S VIEW
13. Basel III from a Practitioner's Perspective
Esa Tuomi and Eriks Plato
14. Banks' Challenges in Central and Eastern Europe
Radovan Jelasic
15. Banking in CEE: Less Growth, More Balance
Gianfranco Bisagni, Matteo Ferrazzi and Pia Pumberger
Index