Float in Order to Fix?: Lessons from Emerging Markets for EU Accession Countries
The so-called "accession economies" preparing to enter the European Union are experiencing increased inward capital flows based upon positive interest spreads and expectations of currency appreciation. While the authorities of these countries have tried to manage these flows and to prevent...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Paris
OECD Publishing
2003
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| Schriftenreihe: | OECD Development Centre Working Papers
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| Schlagworte: | |
| Online-Zugang: | UBA01 UBG01 UEI01 UER01 UPA01 UBR01 UBW01 FFW01 FNU01 EUV01 FRO01 FHR01 FHN01 TUM01 FHI01 UBM01 Volltext |
| Zusammenfassung: | The so-called "accession economies" preparing to enter the European Union are experiencing increased inward capital flows based upon positive interest spreads and expectations of currency appreciation. While the authorities of these countries have tried to manage these flows and to prevent unjustified appreciation of their currencies, the policy mix they may be tempted to apply can benefit from experiences elsewhere. Episodes of heavy capital inflows are well known to emerging markets and have often ended in tears. The 1990s saw three separate regional currency crises: the European crisis of 1992-93, the Latin American crisis 1994-95, and the Asian crisis 1997- 98 followed by crises in Russia and Brazil, and recently by Turkey and Argentina. Obviously, a major currency crisis every 24 months is too much for policy makers' comfort. The virulence, speed and contagion of financial crises that have hit prospective entrants to rich-country clubs repeatedly over the past two decades have ... |
| Beschreibung: | 1 Online-Ressource (32 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/664633553338 |
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Datensatz im Suchindex
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| spelling | Braga de Macedo, Jorge Verfasser aut Float in Order to Fix? Lessons from Emerging Markets for EU Accession Countries Jorge Braga de Macedo and Helmut Reisen Paris OECD Publishing 2003 1 Online-Ressource (32 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Development Centre Working Papers The so-called "accession economies" preparing to enter the European Union are experiencing increased inward capital flows based upon positive interest spreads and expectations of currency appreciation. While the authorities of these countries have tried to manage these flows and to prevent unjustified appreciation of their currencies, the policy mix they may be tempted to apply can benefit from experiences elsewhere. Episodes of heavy capital inflows are well known to emerging markets and have often ended in tears. The 1990s saw three separate regional currency crises: the European crisis of 1992-93, the Latin American crisis 1994-95, and the Asian crisis 1997- 98 followed by crises in Russia and Brazil, and recently by Turkey and Argentina. Obviously, a major currency crisis every 24 months is too much for policy makers' comfort. The virulence, speed and contagion of financial crises that have hit prospective entrants to rich-country clubs repeatedly over the past two decades have ... Development Reisen, Helmut ctb https://doi.org/10.1787/664633553338 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Braga de Macedo, Jorge Float in Order to Fix? Lessons from Emerging Markets for EU Accession Countries Development |
| title | Float in Order to Fix? Lessons from Emerging Markets for EU Accession Countries |
| title_auth | Float in Order to Fix? Lessons from Emerging Markets for EU Accession Countries |
| title_exact_search | Float in Order to Fix? Lessons from Emerging Markets for EU Accession Countries |
| title_exact_search_txtP | Float in Order to Fix? Lessons from Emerging Markets for EU Accession Countries |
| title_full | Float in Order to Fix? Lessons from Emerging Markets for EU Accession Countries Jorge Braga de Macedo and Helmut Reisen |
| title_fullStr | Float in Order to Fix? Lessons from Emerging Markets for EU Accession Countries Jorge Braga de Macedo and Helmut Reisen |
| title_full_unstemmed | Float in Order to Fix? Lessons from Emerging Markets for EU Accession Countries Jorge Braga de Macedo and Helmut Reisen |
| title_short | Float in Order to Fix? |
| title_sort | float in order to fix lessons from emerging markets for eu accession countries |
| title_sub | Lessons from Emerging Markets for EU Accession Countries |
| topic | Development |
| topic_facet | Development |
| url | https://doi.org/10.1787/664633553338 |
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