Economic Slowdown reaches Central and Eastern Europe: Problematic Poland
Axel Brüggemann, Thomas Linne
Wirtschaft im Wandel,
No. 12,
2001
Abstract
Forecast for central and Eastern Europe for 2001 and 2002. Discussion of the high risk potential for financial crises in Poland as measured by the IWH early warning system and an analysis of the underlying reasons for this development.
Read article
On the stability of Hungarian banks
Werner Gnoth
Wirtschaft im Wandel,
No. 9,
2001
Abstract
The participation of foreign capital, mainly of foreign banks in privatization of Hungarian banks has been decisive for reaching of competitiveness and stability. But the process of transformation of banks is not yet over. Many banks have not yet succeeded to compensate the revenue shortfalls and higher costs by a bigger variety of transactions, especially expanding their off-balance-sheet activities. Merges could also help to solidify stability and international competitiveness of rhe banking system. Analyzing several indicators of Hungarian banking system, we found no sign of crisis. Comparing significant indicators of the banking systems between Hungary, Poland and Czech Republic, we found the Hungarian banking system as having been more successful.
Read article
Further development and application of an early warning indicator system for observing and evaluating financial crises in prospective EU acceding countries and selected Central and Eastern European countries
Axel Brüggemann, Thomas Linne
IWH-Sonderhefte,
No. 4,
2001
Abstract
Seit Beginn der 1990er Jahre haben mehrere der Beitrittskandidatenländer für eine Mitgliedschaft in der Europäischen Union (EU) sowie Russland und die Ukraine Finanzkrisen durchlaufen. Das jüngst betroffene Land ist die Türkei, wo im November 2000 eine schwerwiegende Finanzkrise ausbrach und deren Folgen immer noch nicht gänzlich absehbar sind. Die Finanzkrisen umfassten dabei sowohl Währungskrisen als auch Bankenkrisen. Eine wichtige Rolle für den Ausbruch von Währungskrisen spielte die oftmalige Fixierung des Wechselkurses mit dem Ziel, das Preisniveau zu stabilisieren. Bei allerdings anhaltend hohen Inflationsraten mündete diese Politik in einer realen Aufwertung der inländischen Währungen und in einem Anstieg der Leistungsbilanzdefizite.
Read article
System change in statutory pension insurance does not solve the intergenerational distribution conflict
Olaf Fuchs
Wirtschaft im Wandel,
No. 16,
2000
Abstract
The present German pension system needs to be reformed. The alternative to the present pay-as-you-go pension system is a fully funded system. This retirement system offers a higher rate of return to the now young. Nevertheless, the paper argues, that a transition to a fully funded system will not solve the fundamental problem of the German pension system, because the hidden debt of the present system would requires a tax rate which equalizes the burden of both systems.
Read article
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.
Read article
Impact of the Russian Financial Crisis on Stock Exchanges in Central and Eastern Europe
Thomas Linne
External Publications,
No. 6,
2000
Abstract
Read article
Foreign banks in economic development: Experiences from the regulated financial system of South Korea
Ralf Müller
IWH Discussion Papers,
No. 110,
2000
Abstract
Read article
The Financial System in South Korea: Intermediation In-Efficiency, Crisis and Reform
Ralf Müller
External Publications,
1998
Abstract
Read article
The contribution of foreign banks to intermediation performance of regulated financial systems. The example of South Korea
Ralf Müller
Schriften des IWH,
No. 3,
1999
Abstract
Read article
Greed and Grief in East Germany - the Socialist System’s Crisis, Collapse and Transformation
Ulrich Blum
Beihefte zur Konjunkturpolitik 45 (Applied Economics Quarterly),
1997
Abstract
Read article