Financial and Monetary Integration in the New Europe

Convergence Between the EU and Central and Eastern Europe

Inbunden, Engelska, 2002

AvDavid G. Dickinson,Andrew W. Mullineux

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Potential new entrants to the European Union from Central and Eastern European countries face many challenges to achieve financial convergence with the existing EU nations. Using detailed case studies from Bulgaria, the Czech Republic, Latvia, Lithuania and Poland and analysis of cross country data from these regions, Financial and Monetary Integration in the New Europe looks at the key issues for applicant countries as they negotiate the terms of their membership in the European Union.Of major concern to these countries is the financial sector and its implications for economic growth and the conduct of macroeconomic policy. The book examines, in particular, monetary and exchange rate policies, banking regulation and financial market efficiency. The overall impact of building a market driven financial system on economic development is also explored. This volume illustrates that overall, transition countries have made great strides in transformation to market economies and that most have experienced significant economic growth. However, there is still some institution building to be completed and outstanding policy issues to be resolved.Financial and Monetary Integration in the New Europe will be of great interest to EU and CEE policymakers and will prove useful reading to those concerned with EU expansion and CEE economic development.

Produktinformation

Utgivningsdatum2002-02-26
Mått156 x 234 x undefined mm
FormatInbunden
SpråkEngelska
FörlagEdward Elgar Publishing Ltd
ISBN9781840642469

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ContentsPreface and acknowledgements 1 Financial integration between the EU and the economies of Central and Eastern Europe: an overviewDavid G. Dickinson and Andrew W. MullineuxPART I MONETARY AND EXCHANGE RATE POLICY2 Monetary policy and economic development in transitional economies Maxwell J. Fry3 The Czech approach to inflation targeting Miroslav Hrncÿ’rÿ and Katerÿina Sÿm’dkov‡4 The link between FEER and fiscal policy in a transitional period: the case of the Czech economy Katerÿina Sÿm’dkov‡5 Interest rate policy and inflation behaviour in the Czech Republic: from exchange rate to inflation targeting Eric Girardin and Nicholas Horsewood6 Latvia on the way to the European Union: economic policy convergence Inna Sÿteinbuka7 Monetary policy prospects and Maastricht criteria in Lithuania before accession to the EU Salomeúja Jasinskaiteú, Dalia Vidickieneú and Rasa Melnikieneú8 The currency board regime in Bulgaria and its sustainability Tatiana Houbenova9 EMU convergence criteria and international flows of capital: the dilemmas for Polish macroeconomic policy Boguslaw Grabowski and Jerzy Pruski10 The Asian financial crisis and lessons for CEE economies David G. Dickinson and Andrew W. Mullineux11 Joining EMU as an irreversible investment David G. Dickinson and Jean-Baptiste DesquilbetPART II FINANCIAL SECTOR DEVELOPMENT12 Financial stability and economic development in transitional economies Maxwell J. Fry13 Payment systems and economic development in transitional economies Maxwell J. Fry14 Mobilization of savings in transition countries: the case of Lithuania Dalia Vidickieneú, Salomeúja Jasinskaiteú and Rasa Melnikieneú15 The Polish banking sector and EU regulations Andrzej Raczko16 Banking sector restructuring and debt consolidation in the Czech Republic Roman Matousÿek17 Market efficiency in transition economies: equity markets and EU accession Nicholas Horsewood and Douglas Sutherland18 Risk and optimal interest margins: the case of commercial banks in Central Europe Daniel Goyeau, Alain Sauviat and Amine Tarazi19 The impact of market structure and efficiency on bank profitability: an empirical analysis of banking industries in Central and Eastern Europe CŽline Gondat-Larralde and Laetitia Lepetit20 Convergence between the financial systems of EU member states and applicant transition economies Victor Murinde, Juda Agung and Andrew W. MullineuxIndex