Europe > Latvia, Republic of
Abstract
Une situation foncièrement saine devrait permettre à l’économie européenne de supporter sans trop de mal les turbulences financières actuelles. Les prévisions laissent néanmoins entrevoir un tassement du rythme de croissance dans presque tous les pays de la région en 2008. Les dirigeants devront s'attaquer résolument aux turbulences des marchés financiers tout en assainissant les finances publiques et en mettant en œuvre des réformes structurelles, notamment dans le secteur financier, afin de pallier les vulnérabilités, de relever les perspectives de croissance à moyen terme et de réaliser la convergence promise dans les pays émergents d'Europe. Trois chapitres analytiques abordent les réformes visant à renforcer les systèmes financiers de l'Europe afin de permettre aux pays avancés de tirer parti de l'innovation sans encourir de risques excessifs, et aux pays émergents de gérer le développement rapide du secteur financier et de renforcer encore les systèmes financiers.
Abstract
Strong fundamentals should allow Europe to weather financial turbulence relatively well. Nonetheless, growth is set to ease in 2008 in nearly all countries. Policymakers will need to deal up front with the financial market turmoil, while implementing fiscal consolidation and structural reforms, including in the financial sector, to address vulnerabilities, raise medium-term growth prospects, and deliver on the promise of convergence for emerging Europe. Three analytical chapters discuss reforms to strengthen Europe's financial systems to allow advanced economies to benefit from innovation without incurring excessive risk and, in emerging economies, to manage rapid financial deepening and develop financial systems further.
Abstract
Strong fundamentals should allow Europe to weather financial turbulence relatively well. Nonetheless, growth is set to ease in 2008 in nearly all countries. Policymakers will need to deal up front with the financial market turmoil, while implementing fiscal consolidation and structural reforms, including in the financial sector, to address vulnerabilities, raise medium-term growth prospects, and deliver on the promise of convergence for emerging Europe. Three analytical chapters discuss reforms to strengthen Europe's financial systems to allow advanced economies to benefit from innovation without incurring excessive risk and, in emerging economies, to manage rapid financial deepening and develop financial systems further.
Abstract
In just over a decade after independence, the three Baltic countries, Estonia, Latvia, and Lithuania, have transformed themselves into fully functioning, small open-market economies that will be joining the European Union. Capital Markets and Financial Intermediation in The Baltics analyzes the financial systems of the three countries and discusses some of their unique characteristics. The study also examines current distortions of the systems and discusses whether or not the Baltics should move from an almost exclusively bank-based system to one that relies more on capital markets. In the process, it addresses issues of corporate governance and regional integration.