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Taking Stock of Monetary and Exchange Rate Regimes in Emerging Europe

Taking Stock of Monetary and Exchange Rate Regimes in Emerging Europe »

Source: Taking Stock of Monetary and Exchange Rate Regimes in Emerging Europe

Volume/Issue: 2016/12

Series: Departmental Papers / Policy Papers

Author(s): Nazim Belhocine , Ernesto Crivelli , Nan Geng , Tiberiu Scutaru , Johannes Wiegand , and Zaijin Zhan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 November 2016

ISBN: 9781475556629

Keywords: Emerging markets, Flexible exchange rates, Exchange rate regimes, Cross country analysis, Central and Eastern Europe, Transition economies, Monetary policy, exchange rates

The demands on monetary and exchange rate regimes in CESEE have evolved, in line with the region's development. In the 1990s, the immediate challenge was to rein in excessive inflation following transition, and to...

Motivation

Motivation »

Source: Taking Stock of Monetary and Exchange Rate Regimes in Emerging Europe

Volume/Issue: 2016/12

Series: Departmental Papers / Policy Papers

Author(s): Nazim Belhocine , Ernesto Crivelli , Nan Geng , Tiberiu Scutaru , Johannes Wiegand , and Zaijin Zhan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 November 2016

ISBN: 9781475556629

Keywords: Emerging markets, Flexible exchange rates, Exchange rate regimes, Cross country analysis, Central and Eastern Europe, Transition economies, Monetary policy, exchange rates

A full quarter century after the transition from socialism, almost every type of monetary and exchange rate regime can be found in Central, Eastern and Southeastern Europe (CESEE): from free flo...

Monetary Strategies for CESEE Economies

Monetary Strategies for CESEE Economies »

Source: Taking Stock of Monetary and Exchange Rate Regimes in Emerging Europe

Volume/Issue: 2016/12

Series: Departmental Papers / Policy Papers

Author(s): Nazim Belhocine , Ernesto Crivelli , Nan Geng , Tiberiu Scutaru , Johannes Wiegand , and Zaijin Zhan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 November 2016

ISBN: 9781475556629

Keywords: Emerging markets, Flexible exchange rates, Exchange rate regimes, Cross country analysis, Central and Eastern Europe, Transition economies, Monetary policy, exchange rates

This section turns to strategic policy options for CESEE economies. It is neither prescriptive nor exhaustive, not least because the choice of a monetary and exchange rate regime is a sovereign...

Conclusions

Conclusions »

Source: Taking Stock of Monetary and Exchange Rate Regimes in Emerging Europe

Volume/Issue: 2016/12

Series: Departmental Papers / Policy Papers

Author(s): Nazim Belhocine , Ernesto Crivelli , Nan Geng , Tiberiu Scutaru , Johannes Wiegand , and Zaijin Zhan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 November 2016

ISBN: 9781475556629

Keywords: Emerging markets, Flexible exchange rates, Exchange rate regimes, Cross country analysis, Central and Eastern Europe, Transition economies, Monetary policy, exchange rates

The demands on monetary and exchange rate regimes in CESEE have evolved, in line with the region’s development. In the 1990s, the immediate challenge was to rein in excessive inflation following...

Exchange Rate Regimes in CESEE: Evolution, Performance, Rationale

Exchange Rate Regimes in CESEE: Evolution, Performance, Rationale »

Source: Taking Stock of Monetary and Exchange Rate Regimes in Emerging Europe

Volume/Issue: 2016/12

Series: Departmental Papers / Policy Papers

Author(s): Nazim Belhocine , Ernesto Crivelli , Nan Geng , Tiberiu Scutaru , Johannes Wiegand , and Zaijin Zhan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 November 2016

ISBN: 9781475556629

Keywords: Emerging markets, Flexible exchange rates, Exchange rate regimes, Cross country analysis, Central and Eastern Europe, Transition economies, Monetary policy, exchange rates

A Short History of Monetary and Exchange Rate Regimes in CESEE...

Public Infrastructure in the Western Balkans: Opportunities and Challenges

Public Infrastructure in the Western Balkans: Opportunities and Challenges »

Source: Public Infrastructure in the Western Balkans : Opportunities and Challenges

Volume/Issue: 2018/02

Series: Departmental Papers / Policy Papers

Author(s): Ruben Atoyan , Dora Benedek , Ezequiel Cabezon , Jacques Miniane , Nguyen Ngoc Duy , and James Roaf

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 February 2018

ISBN: 9781484337189

Keywords: Albania, Bosnia and Herzegovina, Croatia, Kosovo, Serbia, Infrastructure, Europe, Montenegro, Output growth, Macedonia, former Yugoslav Republic of

An assessment of public infrastructure development in the Western Balkans. The paper quantifies the large gaps across various sectors/dimensions, evaluates current infrastructure plans, and discusses funding option...

Revisiting the Economic Case for Fiscal Union in the Euro Area

Revisiting the Economic Case for Fiscal Union in the Euro Area »

Source: Revisiting the Economic Case for Fiscal Union in the Euro Area

Volume/Issue: 2018/3

Series: Departmental Papers / Policy Papers

Author(s): Helge Berger , Giovanni Dell'Ariccia , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 February 2018

ISBN: 9781484340424

Keywords: Sweden, Switzerland, United Kingdom, Monetary unions, Spain, Italy, Fiscal policy, France, Germany, Greece

The paper makes an analytical contribution to the revived discussion about the euro area's institutional setup. After significant progress during the euro crisis, the drive to complete Europe's Economic and Monetar...

The Spillover Effects of Russia’s Economic Slowdown on Neighboring Countries

The Spillover Effects of Russia’s Economic Slowdown on Neighboring Countries »

Source: The Spillover Effects of Russia's Economic Slowdown on Neighboring Countries

Series: Departmental Papers / Policy Papers

Author(s): Ara Stepanyan , Agustin Roitman , Gohar Minasyan , Dragana Ostojic , and Natan Epstein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 November 2015

ISBN: 9781513571348

Keywords: External shocks, Russian Federation, Economic growth, Negative spillovers, Regional shocks, Central Asia and the Caucasus, Central and Eastern Europe, Baltics, Regional trade, Remittances

In the face of sharply lower oil prices and geopolitical tensions and sanctions, economic activity in Russia decelerated in late 2014, resulting in negative spillovers on Commonwealth of Independent States (CIS) a...

2. Developments in Russia

2. Developments in Russia »

Source: The Spillover Effects of Russia's Economic Slowdown on Neighboring Countries

Series: Departmental Papers / Policy Papers

Author(s): Ara Stepanyan , Agustin Roitman , Gohar Minasyan , Dragana Ostojic , and Natan Epstein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 November 2015

ISBN: 9781513571348

Keywords: External shocks, Russian Federation, Economic growth, Negative spillovers, Regional shocks, Central Asia and the Caucasus, Central and Eastern Europe, Baltics, Regional trade, Remittances

In 2014 the Russian economy was hit by sanctions and rapidly falling oil prices. These shocks led to significant balance of payment pressures with a surge in capital outflows and depreciating ex...

4. Impact So Far on the Affected Countries and Potential Further Shock

4. Impact So Far on the Affected Countries and Potential Further Shock »

Source: The Spillover Effects of Russia's Economic Slowdown on Neighboring Countries

Series: Departmental Papers / Policy Papers

Author(s): Ara Stepanyan , Agustin Roitman , Gohar Minasyan , Dragana Ostojic , and Natan Epstein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 November 2015

ISBN: 9781513571348

Keywords: External shocks, Russian Federation, Economic growth, Negative spillovers, Regional shocks, Central Asia and the Caucasus, Central and Eastern Europe, Baltics, Regional trade, Remittances

Given the aforementioned spillover channels and strong historical ties with individual countries, the slowdown in Russia—the largest economy in the region—has adverse effects on neighboring econ...