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2009 | nr 1(1) | 16
Tytuł artykułu

Transmission of the Global Crisis to the Baltic States : Implications for Their Accession to the EMU

Autorzy
Treść / Zawartość
Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
The article presents various transmission mechanisms, which brought (or could have brought) the present global crisis into the Baltic States: Lithuania, Latvia and Estonia. Then, it reviews the consequences of the crisis on the these economies. The prospects of their accession to the euro area is also assessed in the light of the projected fulfillment of the Maastricht criteria. (original abstract)
W artykule przedstawiono różne mechanizmy transmisji, które spowodowały lub mogłyby spowodować obecny kryzys w krajach bałtyckich: Litwy, Łotwy i Estonii. Przeanalizowano wpływ kryzysu w tych krajach na ich gospodarki. Oceniono również perspektywę przystąpienia do strefy euro w świetle spełnienia kryteriów z Maastricht.
Rocznik
Numer
Strony
16
Opis fizyczny
Twórcy
autor
  • Cracow University of Economics, Poland
Bibliografia
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  • Bernanke, Ben, Mark Gertler, and Simon Gilchrist, 1996, “The Financial Accelerator and the Flight to Quality,” The Review of Economics and Statistics, Vol. 78, No. 1, (Feb.), 1- 15.
  • Blanchard O., (2009). The Crisis: Basic Mechanisms, and Appropriate Policies. IMF Working Paper WP/09/80.
  • Bordo M., (2008). A Historical Perspective on the Crisis of 2007-2008. NBER Working Paper no. 14569.
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  • Claessens S., Kose M.A., & Terrones M.E., (2008). What Happens During Recessions, Crunches and Busts? IMF Working Paper WP/08/274.
  • Clark A., & Teanor J., (2008, November 24). Greenspan – I was wrong about the economy. Sort of, The Guardian.
  • Committee on the Global Financial System, (2008). Central bank operations in response to the financial turmoil. CGFS Papers no. 31.
  • Dooley M.P., & Hutchison M.M., (2009). Transmission of the U.S. Subprime Crisis to Emerging Markets: Evidence on the Decoupling-Recoupling Hypothesis. NBER Working Paper no. 15120.
  • European Bank for Reconstructing and Development, (2008). Transition Report 2008: Growth in Transition. London.
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  • Krishnamurthy A., (2009). Amplification Mechanisms in Liquidity Crises. NBER Working Paper no. 15040.
  • Marton K., & McCarthy C.H., (2008). From State to Foreign Ownership: The Banking Sector in Eastern and Central Europe. Global Economy Journal. Vol. 8, Iss. 3, Art. 8 (1 – 14).
  • Masson P, (1999). Contagion: monsoonal effects, spillovers, and jumps between multiple equilibria., in Agenor, P R, M Miller, D Vines and A Weber: (eds), The Asian financial crisis: causes, contagion and consequences, Cambridge University Press, Cambridge, UK.
  • Mian A., & Sufi A., (2008). The Consequences of Mortgage Credit Expansion: Evidence from the 2007 Mortgage Default Crisis. NBER Working Paper no. 13936.
  • Mian A., Sufi A., & F. Trebbi, (2008). The Political Economy of the U.S. Mortgage Default Crisis. NBER Working Paper no. 14468.
  • Mishkin F.S. (2004). The Economics of Money, Banking and Financial Markets. Seventh edition. Pearson/Addison Wesley Ed.
  • Obiora K.I., (2009). Decoupling from the East Toward the West? Analyses of Spillovers to the Baltic Countries. IMF Working Paper WP/09/125.
  • Shin, H. S., (2008). Reflections on Modern Bank Runs: A Case Study of Northern Rock, mimeo, Princeton University, http://www.princeton.edu/~hsshin/www/nr.pdf, retrieved July 15, 2009.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000169311777

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