Financial crisis and problems yet to solve - Conference proceedings
IWH-Sonderhefte,
No. 6,
2000
Abstract
Since the beginning of 1997, a currency and/or banking crisis broke out in several transition countries (Bulgaria, Romania, the Czech Republic, Russia, Ukraine). In 1995, Hungary avoided a financial crisis by adjusting properly her macroeconomic policies. Financial markets in transition countries are still small. They gain, however, more and more importance for the entire economy. Part of the countries mentioned are candidates for EU membership. They have to show their ability to stabilize their exchange rates and financial sectors. The fact that overcoming the financial crisis in Asia and Latin America required international assistance (e.g. IMF) underlines the political importance of strategies of preventing such crises in the EU's immediate neighborhood.
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Structural change, specialization patterns, and the productivity gap between Central and Eastern Europe and the European Union
Johannes Stephan
Wirtschaft im Wandel,
No. 13,
2000
Abstract
The transition countries of Central East Europe exhibit significantly lower productivity levels than that of the average of the 15 European Union countries. Since the outset of transition, however, this gap has clearly narrowed.
Next to technological and organisational factors it is sectoral structures which play an important role for the development and level of national productivities: in most transition economies, structural change clearly contributed positively to productivity growth. Poland is an exception here, no significant effect of structural change between sectors and industrial branches on the growth of the national productivity level could be found. The low intensity of structural adjustment in Poland in particular in the agricultural sector corresponds with a decisive role played by the sectoral pattern of specialisation within the European division of labour as determinant of the productivity gap. Hungary and to some degree also Slovenia, the country with the lowest productivity gap, exhibit similar results. Only in the cases of the Czech Republic and Slovakia remain negligible the explanatory powers of respective patterns of specialisation as productivity determinants.
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The Macroeconomics of Transition. The Case of Eastern Germany
Rüdiger Pohl
External Publications,
2000
Abstract
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The incomplete transformation - East Germany's economy ten years after the introduction of the D-Mark
Rüdiger Pohl
Wirtschaft im Wandel,
No. 8,
2000
Abstract
Von Anfang an gehört zur ostdeutschen Transformation, dass positive und negative Bewertungen ihrer Ergebnisse und Auswirkungen nebeneinander bestehen. Gewinner und Verlierer der Transformation, Erfolg gegen Misserfolg: in diesen Begriffspaaren zeigt sich die Ambivalenz der ostdeutschen Entwicklung. Zehn Jahre nach Einführung der DMark hat sich an den harten Kontrasten in den Urteilen nichts geändert.
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Central and Eastern European stock markets: Insufficient liquidity restricts development
Thomas Linne
Wirtschaft im Wandel,
No. 5,
2000
Abstract
Als Folge der Russlandkrise im August 1998 haben viele internationale Investoren ihre Aktienengagements in den Ländern Mittel- und Osteuropas einer kritischeren Betrachtung unterzogen. Mit dem Rückgang der Portfolioinvestitionen ausländischer Anleger sind wichtige Handelsteilnehmer an den Aktienmärkten weggefallen. Dies hat die ohnehin schon geringe Liquidität noch weiter verringert. Wichtige Impulse für die Entwicklung der Kapitalmärkte können von der Gründung von Pensionsfonds ausgehen, die als Kapitalsammelstellen zusätzliche inländische Nachfrage nach Wertpapieren schaffen.
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Transition from Planned to Market Economies Ten Years on
Jens Hölscher, Johannes Stephan
Osteuropa-Wirtschaft,
No. 2,
2000
Abstract
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East German views and feelings one decade after the change - Ambivalent traces of the transition
Cornelia Lang
Wirtschaft im Wandel,
No. 16,
1999
Abstract
Der Artikel beschäftigt sich mit den individuellen Bilanzen der Transformation, die je nach Alter der befragten Ostdeutschen unterschiedlich ausfallen. Die Einstellungen und Haltungen der jüngeren Generation zeigen eine stärkere Tendenz des Hineinwachsens in die neue Gesellschaft, während die mittleren Altersjahrgänge ein eher ambivalentes Bild abgeben.
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Trade structure and trade liberalization. The emerging pattern between the EU and transition economies
Hubert Gabrisch, Maria Luigia Segnana
IWH Discussion Papers,
No. 108,
1999
Abstract
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The Asian and the Russian financial crises: Propagation effects and policy responses in Central Europe's transition economies
Lucjan T. Orlowski
IWH Discussion Papers,
No. 104,
1999
Abstract
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Economic Transition in Hungary and East Germany – Gradualism and Shock Therapy in Catch-Up Development. Studies
Johannes Stephan
Economic Transition,
1999
Abstract
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