Post-Crisis Growth and Integration in Europe

Edited by Ewald Nowotny, former Governor, Oesterreichische Nationalbank, Peter Mooslechner, formerly Oesterreichische Nationalbank and Doris Ritzberger-Grünwald, Director, Oesterreichische Nationalbank, Austria

• Contents:Preface PART I: CATCHING-UP AND GROWTH PROSPECTS AFTER THE CRISIS1. Challenges to European Economic Integration Vítor Constâncio2. A Forward-looking View on Catching-up Strategies from an Austrian Angle Ewald Nowotny3. Re-establishing Growth After the Crisis – Lessons from the Nordic Countries Seppo Honkapohja4. Catching-up Prospects After the Crisis for the EU’s CESEE Region Kieran Mc Morrow and Werner Röger5. Growth Prospects in the EU-10 Members States After the Crisis Dariusz K. Rosati6. Neoclassicism in the Balkans Vladimir Gligorov7. Unlocking Growth Potential in the Balkans Boštjan Jazbec and Albulenë Kastrati8. The Catching-up Experience of the Western Balkans – the Cases of Serbia, FYR of Macedonia and Albania Michael LoufirPART II: POLICY CHALLENGES IN THE CESEE REGION AND BEYOND9. Monetary Policy and Financial Stability: What’s Ahead for Central and Eastern Europe Stephen G. Cecchetti10. Central Banking for the 21st Century: An American Perspective Paul A. Wachtel11. Monetary Policy Challenges in the CESEE Region: Architecture for an Earthquake Zone Bas B. Bakker and Leslie Lipschitz12. A Policy Recipe for Successful Convergence of CESEE Countries in the Post-crisis World Júlia Király, Attila Csajbók and Mihály András Kovács13. Monetary Policy Challenges in the CESEE Region – the Case of Poland Marek Belka14. Monetary Policy Challenges in the CESEE Region – the Case of Romania Christian Popa15. Monetary Policy Challenges in the CESEE Region – the Case of Croatia Boris Vujčić16. Challenges for Monetary and Exchange Rate Policy in CESEE Created by the Crisis: Back to Square One? Peter MooslechnerPART III: THE NEW ROLE OF FINANCIAL INTEGRATION, GROWTH FINANCING AND EXPORTS17. Policy Perspectives on Financial Integration After the Crisis Ignazio Angeloni18. The Need for an Enhanced Role of Local Supervisors and Shareholder Oversight Andrzej Stopczyński19. Firms’ Patterns of Trade and Access to Finance Jože P. Damijan and Črt Kostevc20. Financing for Growth in CESEE Joachim Nagel and Corinna Knobloch21. Capital Inflows, Exports and Growth in the CESEE Region Jarko Fidrmuc and Reiner Martin22. Structural Components of International Trade Growth 1995–2009 Joseph F. Francois and Julia Wörz23. The Great Trade Collapse and its Impact on Firms in Europe László HalpernPART IV: CHALLENGES FOR BANKING IN THE CESEE REGION24. After the Crisis: Financial Sector Reform in the EU María Teresa Fábregas Fernández25. Banking Challenges in the CESEE Region from the Erste Group Perspective Andreas Treichl26. Challenges for Banking in the CESEE Region – the Situation in Austria and CESEE in November 2010 Michael Hysek27. The CESEE Experience of KBC Group Marko Voljć28. Challenges for Banking in the CESEE Region – the Case of Swedbank Baltic Banking Håkan BergIndex