Seminar on Currency Boards in the Context of EU Accession: Brussels, 25 November 1999 : Summary of Proceedings and Papers |
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Page 111
... Russian crisis demonstrate the ability of the currency board to lead the economy quite quickly back to the normal path of development , guided by the convergence process . 4.1 . GDP growth and export behaviour after the Russian crisis ...
... Russian crisis demonstrate the ability of the currency board to lead the economy quite quickly back to the normal path of development , guided by the convergence process . 4.1 . GDP growth and export behaviour after the Russian crisis ...
Page 116
... Russian crisis coincided with the aftermath of Asian crisis and cyclical downturn of the economy . Hence there was slight contraction of liquidity on the macro level and rise of both short - term and long term - term interest rates ...
... Russian crisis coincided with the aftermath of Asian crisis and cyclical downturn of the economy . Hence there was slight contraction of liquidity on the macro level and rise of both short - term and long term - term interest rates ...
Page 141
... Russian crisis . While the adjustment process is still not complete , a sufficiently long period since the crisis erupted has elapsed to allow making a detailed assessment of how the economy has reacted . Developments in interest rates ...
... Russian crisis . While the adjustment process is still not complete , a sufficiently long period since the crisis erupted has elapsed to allow making a detailed assessment of how the economy has reacted . Developments in interest rates ...
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accession countries adjustment adopt the euro anchor currency assets average Bank of Estonia Bank of Lithuania banking sector banking system budget Bulgaria candidate countries capital movements cent central bank commercial banks competitiveness credibility currency board arrangement currency board system Currency Commission current account deficit debt Directorate domestic Economic and Financial Economic and Monetary economic policy EMU acquis ERMII Estonian kroon Estonian monetary euro area European Commission European Union exchange rate policy exchange rate regime exports Financial Affairs financial markets financial sector fiscal policy fixed exchange rate flexibility foreign exchange framework growth Hong Kong Honohan implementation important increase inflation integration interbank interest rates investment Irish pound joining the euro liquidity litas macroeconomic Member monetary policy monetary system Monetary Union money market nominal participation payments percent period real exchange rate reserve requirement Russian crisis seigniorage stabilisation trade transition economies wages