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
no.218 |
| Schlagworte: | |
| Online-Zugang: | 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 p.) 21 x 29.7cm. |
| DOI: | 10.1787/664633553338 |
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| spelling | Braga de Macedo, Jorge VerfasserIn 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 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Development Centre Working Papers no.218 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 MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/664633553338 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_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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