Turmoil at Twenty : Recession, Recovery, and Reform in Central and Eastern Europe and the Former Soviet Union
This book, written on the eve of the 20th anniversary of the fall of the Berlin wall in 1989, addresses three questions that relate to recession, recovery, and reform, respectively, in Europe and Central Asia (ECA) transition countries. Did the...
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| Format: | Publication |
| Language: | English |
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World Bank
2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000334955_20091112015927 http://hdl.handle.net/10986/2682 |
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okr-10986-2682 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ARBITRAGE ASSET RATIO BALANCE SHEET BALANCE SHEETS BANK EXPOSURE BANK FOR INTERNATIONAL SETTLEMENTS BANK REGULATION BANK RESTRUCTURING BANK SUPERVISION BANKING CRISES BANKING SECTOR BANKING SECTOR ASSETS BANKING SECTORS BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY BENEFICIARIES BENEFICIARY BOND SPREADS BUDGET CONSTRAINTS BUSINESS CYCLE CAPACITY CONSTRAINTS CAPITAL ACCOUNT CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL FLOWS CAPITAL INFLOWS CAPITAL MOVEMENTS CAPITAL REQUIREMENTS CENTRAL BANK CENTRAL BANKS COLLECTIVE ACTION CREDIBILITY CREDIT GROWTH CREDIT LOSSES CREDIT MARKET CREDITORS CURRENCY COMPOSITION CURRENCY CRISES CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS CURRENT ACCOUNT SURPLUSES DEBT DEBT FINANCING DEBT RATIOS DEBT RESTRUCTURING DEBT SERVICE DEBTORS DEMAND FOR CREDIT DEPOSIT DEPOSIT INSURANCE DEPOSIT INSURANCE SCHEMES DEPOSITORS DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DOMESTIC BANKS DOMESTIC INTEREST RATES DOMESTIC MARKET DURABLE DURABLE GOODS ECONOMIC DEVELOPMENTS EMERGING ECONOMIES EMERGING ECONOMY EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS EMPLOYMENT ENTERPRISE PERFORMANCE EXCHANGE RATE EXCHANGE RATES EXPENDITURES EXPORTERS EXTERNAL BORROWING EXTERNAL DEBT EXTERNAL FUNDING FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEEPENING FINANCIAL INTEGRATION FINANCIAL MARKETS FINANCIAL OPENNESS FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCING SOURCES FISCAL DEFICITS FISCAL POLICY FLEXIBLE EXCHANGE RATE FLOATERS FOREIGN ASSETS FOREIGN BANK FOREIGN BANKS FOREIGN CAPITAL FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY LOANS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN FINANCIAL INSTITUTIONS FOREIGN INVESTORS FOREIGN LENDERS GLOBAL ECONOMY GLOBAL FINANCE GLOBAL MARKETS GLOBAL TRADE GLOBALIZATION HOLDINGS HOST COUNTRIES HOST COUNTRY HOUSING INCOME LEVELS INDEBTEDNESS INFLATION INFORMAL FINANCE INSTRUMENT INTEREST COVERAGE RATIO INTEREST RATE INTEREST RATES INTERNAL FINANCE INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL LENDING INTERNATIONAL SETTLEMENTS INVESTMENT BANK INVESTMENT CLIMATE JUDICIAL SYSTEM JUDICIAL SYSTEMS LABOR MARKETS LEGAL ENVIRONMENT LEGAL FRAMEWORK LEGAL SYSTEM LEGAL SYSTEMS LEGISLATION LENDERS LIQUID ASSETS LIQUIDATION LIQUIDITY LIQUIDITY PROBLEMS LIVING STANDARDS LOAN LOAN LOSS PROVISIONS LOAN PORTFOLIO LOCAL CURRENCY MACROECONOMIC CRISES MACROECONOMIC POLICIES MACROECONOMIC STABILITY MACROECONOMIC STABILIZATION MARKET ECONOMIES MARKET ECONOMY MARKET RISKS MARKET STRUCTURE MATURITIES MATURITY MONETARY FUND MONETARY POLICIES MONETARY POLICY MORTGAGE MORTGAGE INTEREST MORTGAGE LOANS MORTGAGES NATIONAL CREDIT NATURAL RESOURCES NONPERFORMING LOANS OIL PRICES OPEN ECONOMIES POLICY RESPONSE PRIVATE CAPITAL PRIVATE CREDIT PRIVATE INVESTMENT PRIVATE SECTOR CREDIT PRIVATIZATION PRODUCTIVITY PROFITABILITY PROPERTY RIGHTS PRUDENTIAL SUPERVISION PUBLIC DEBT PUBLIC EXPENDITURES PUBLIC FINANCES PURCHASING POWER REAL EXCHANGE RATE RECAPITALIZATION REGULATORY FORBEARANCE REGULATORY FRAMEWORKS REMITTANCE REMITTANCES REORGANIZATION RESERVE RESERVE REQUIREMENTS RETURN RETURN ON ASSETS RETURN ON EQUITY RISK FACTORS RULE OF LAW SAFETY NET SAFETY NETS SAVINGS SHORT-TERM DEBT SOCIAL SAFETY NETS SOVEREIGN BOND STATE ENTERPRISES SUBSIDIARIES SUBSIDIARY SUPERVISORY AGENCY SUPPLIES OF CREDIT SUPPLY OF CREDIT SYSTEMIC BANKING CRISES TAX TAX ADMINISTRATION TOTAL DEBT TRADING TRANSITION COUNTRIES TRANSITION COUNTRY TRANSITION ECONOMIES TRANSPORT TREATY WITHDRAWAL WORLD FINANCIAL MARKETS |
| spellingShingle |
ARBITRAGE ASSET RATIO BALANCE SHEET BALANCE SHEETS BANK EXPOSURE BANK FOR INTERNATIONAL SETTLEMENTS BANK REGULATION BANK RESTRUCTURING BANK SUPERVISION BANKING CRISES BANKING SECTOR BANKING SECTOR ASSETS BANKING SECTORS BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY BENEFICIARIES BENEFICIARY BOND SPREADS BUDGET CONSTRAINTS BUSINESS CYCLE CAPACITY CONSTRAINTS CAPITAL ACCOUNT CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL FLOWS CAPITAL INFLOWS CAPITAL MOVEMENTS CAPITAL REQUIREMENTS CENTRAL BANK CENTRAL BANKS COLLECTIVE ACTION CREDIBILITY CREDIT GROWTH CREDIT LOSSES CREDIT MARKET CREDITORS CURRENCY COMPOSITION CURRENCY CRISES CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS CURRENT ACCOUNT SURPLUSES DEBT DEBT FINANCING DEBT RATIOS DEBT RESTRUCTURING DEBT SERVICE DEBTORS DEMAND FOR CREDIT DEPOSIT DEPOSIT INSURANCE DEPOSIT INSURANCE SCHEMES DEPOSITORS DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DOMESTIC BANKS DOMESTIC INTEREST RATES DOMESTIC MARKET DURABLE DURABLE GOODS ECONOMIC DEVELOPMENTS EMERGING ECONOMIES EMERGING ECONOMY EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS EMPLOYMENT ENTERPRISE PERFORMANCE EXCHANGE RATE EXCHANGE RATES EXPENDITURES EXPORTERS EXTERNAL BORROWING EXTERNAL DEBT EXTERNAL FUNDING FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEEPENING FINANCIAL INTEGRATION FINANCIAL MARKETS FINANCIAL OPENNESS FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCING SOURCES FISCAL DEFICITS FISCAL POLICY FLEXIBLE EXCHANGE RATE FLOATERS FOREIGN ASSETS FOREIGN BANK FOREIGN BANKS FOREIGN CAPITAL FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY LOANS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN FINANCIAL INSTITUTIONS FOREIGN INVESTORS FOREIGN LENDERS GLOBAL ECONOMY GLOBAL FINANCE GLOBAL MARKETS GLOBAL TRADE GLOBALIZATION HOLDINGS HOST COUNTRIES HOST COUNTRY HOUSING INCOME LEVELS INDEBTEDNESS INFLATION INFORMAL FINANCE INSTRUMENT INTEREST COVERAGE RATIO INTEREST RATE INTEREST RATES INTERNAL FINANCE INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL LENDING INTERNATIONAL SETTLEMENTS INVESTMENT BANK INVESTMENT CLIMATE JUDICIAL SYSTEM JUDICIAL SYSTEMS LABOR MARKETS LEGAL ENVIRONMENT LEGAL FRAMEWORK LEGAL SYSTEM LEGAL SYSTEMS LEGISLATION LENDERS LIQUID ASSETS LIQUIDATION LIQUIDITY LIQUIDITY PROBLEMS LIVING STANDARDS LOAN LOAN LOSS PROVISIONS LOAN PORTFOLIO LOCAL CURRENCY MACROECONOMIC CRISES MACROECONOMIC POLICIES MACROECONOMIC STABILITY MACROECONOMIC STABILIZATION MARKET ECONOMIES MARKET ECONOMY MARKET RISKS MARKET STRUCTURE MATURITIES MATURITY MONETARY FUND MONETARY POLICIES MONETARY POLICY MORTGAGE MORTGAGE INTEREST MORTGAGE LOANS MORTGAGES NATIONAL CREDIT NATURAL RESOURCES NONPERFORMING LOANS OIL PRICES OPEN ECONOMIES POLICY RESPONSE PRIVATE CAPITAL PRIVATE CREDIT PRIVATE INVESTMENT PRIVATE SECTOR CREDIT PRIVATIZATION PRODUCTIVITY PROFITABILITY PROPERTY RIGHTS PRUDENTIAL SUPERVISION PUBLIC DEBT PUBLIC EXPENDITURES PUBLIC FINANCES PURCHASING POWER REAL EXCHANGE RATE RECAPITALIZATION REGULATORY FORBEARANCE REGULATORY FRAMEWORKS REMITTANCE REMITTANCES REORGANIZATION RESERVE RESERVE REQUIREMENTS RETURN RETURN ON ASSETS RETURN ON EQUITY RISK FACTORS RULE OF LAW SAFETY NET SAFETY NETS SAVINGS SHORT-TERM DEBT SOCIAL SAFETY NETS SOVEREIGN BOND STATE ENTERPRISES SUBSIDIARIES SUBSIDIARY SUPERVISORY AGENCY SUPPLIES OF CREDIT SUPPLY OF CREDIT SYSTEMIC BANKING CRISES TAX TAX ADMINISTRATION TOTAL DEBT TRADING TRANSITION COUNTRIES TRANSITION COUNTRY TRANSITION ECONOMIES TRANSPORT TREATY WITHDRAWAL WORLD FINANCIAL MARKETS Mitra, Pradeep Selowsky, Marcelo Zalduendo, Juan Turmoil at Twenty : Recession, Recovery, and Reform in Central and Eastern Europe and the Former Soviet Union |
| geographic_facet |
Europe and Central Asia Eastern Europe Central Asia Former Soviet Union |
| relation |
Eastern Europe and Central Asia Flagship |
| description |
This book, written on the eve of the
20th anniversary of the fall of the Berlin wall in 1989,
addresses three questions that relate to recession,
recovery, and reform, respectively, in Europe and Central
Asia (ECA) transition countries. Did the
transition from a command to a market economy and the period
when it took place, plant the seeds of vulnerability that
made transition countries (the region excluding Turkey) more
prone to crisis than developing countries generally? Did
choices made on the road from plan to market shape the
ability of affected countries to recover from the crisis?
What structural reforms do transition countries need to
undertake to address the most binding constraints to growth
in a world where financial markets have become more
discriminating and where capital flows to transition and
developing countries are likely to be considerably lower
than before the crisis? This report is structured as
follows: chapter one of the book analyses how countries fell
into recession and crisis, why not all of them were equally
affected, and whether different policies could have
positioned them better to face the crisis. Chapter two
discusses rescue and stabilization and the role of
international collective action. The next two chapters focus
on policies for recovery, chapter three on restructuring
bank, corporate and household debt and chapter four on
scaling up social safety nets. Chapters five and six focus
on reform, examining the binding constraints to growth and
the policy agenda in the most important sectors identified
by that analysis. |
| format |
Publications & Research :: Publication |
| author |
Mitra, Pradeep Selowsky, Marcelo Zalduendo, Juan |
| author_facet |
Mitra, Pradeep Selowsky, Marcelo Zalduendo, Juan |
| author_sort |
Mitra, Pradeep |
| title |
Turmoil at Twenty : Recession,
Recovery, and Reform in Central and Eastern Europe and the
Former Soviet Union |
| title_short |
Turmoil at Twenty : Recession,
Recovery, and Reform in Central and Eastern Europe and the
Former Soviet Union |
| title_full |
Turmoil at Twenty : Recession,
Recovery, and Reform in Central and Eastern Europe and the
Former Soviet Union |
| title_fullStr |
Turmoil at Twenty : Recession,
Recovery, and Reform in Central and Eastern Europe and the
Former Soviet Union |
| title_full_unstemmed |
Turmoil at Twenty : Recession,
Recovery, and Reform in Central and Eastern Europe and the
Former Soviet Union |
| title_sort |
turmoil at twenty : recession,
recovery, and reform in central and eastern europe and the
former soviet union |
| publisher |
World Bank |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000334955_20091112015927 http://hdl.handle.net/10986/2682 |
| _version_ |
1764385811796590592 |
| spelling |
okr-10986-26822021-04-23T14:02:03Z Turmoil at Twenty : Recession, Recovery, and Reform in Central and Eastern Europe and the Former Soviet Union Mitra, Pradeep Selowsky, Marcelo Zalduendo, Juan ARBITRAGE ASSET RATIO BALANCE SHEET BALANCE SHEETS BANK EXPOSURE BANK FOR INTERNATIONAL SETTLEMENTS BANK REGULATION BANK RESTRUCTURING BANK SUPERVISION BANKING CRISES BANKING SECTOR BANKING SECTOR ASSETS BANKING SECTORS BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY BENEFICIARIES BENEFICIARY BOND SPREADS BUDGET CONSTRAINTS BUSINESS CYCLE CAPACITY CONSTRAINTS CAPITAL ACCOUNT CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL FLOWS CAPITAL INFLOWS CAPITAL MOVEMENTS CAPITAL REQUIREMENTS CENTRAL BANK CENTRAL BANKS COLLECTIVE ACTION CREDIBILITY CREDIT GROWTH CREDIT LOSSES CREDIT MARKET CREDITORS CURRENCY COMPOSITION CURRENCY CRISES CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS CURRENT ACCOUNT SURPLUSES DEBT DEBT FINANCING DEBT RATIOS DEBT RESTRUCTURING DEBT SERVICE DEBTORS DEMAND FOR CREDIT DEPOSIT DEPOSIT INSURANCE DEPOSIT INSURANCE SCHEMES DEPOSITORS DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DOMESTIC BANKS DOMESTIC INTEREST RATES DOMESTIC MARKET DURABLE DURABLE GOODS ECONOMIC DEVELOPMENTS EMERGING ECONOMIES EMERGING ECONOMY EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS EMPLOYMENT ENTERPRISE PERFORMANCE EXCHANGE RATE EXCHANGE RATES EXPENDITURES EXPORTERS EXTERNAL BORROWING EXTERNAL DEBT EXTERNAL FUNDING FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEEPENING FINANCIAL INTEGRATION FINANCIAL MARKETS FINANCIAL OPENNESS FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCING SOURCES FISCAL DEFICITS FISCAL POLICY FLEXIBLE EXCHANGE RATE FLOATERS FOREIGN ASSETS FOREIGN BANK FOREIGN BANKS FOREIGN CAPITAL FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY LOANS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN FINANCIAL INSTITUTIONS FOREIGN INVESTORS FOREIGN LENDERS GLOBAL ECONOMY GLOBAL FINANCE GLOBAL MARKETS GLOBAL TRADE GLOBALIZATION HOLDINGS HOST COUNTRIES HOST COUNTRY HOUSING INCOME LEVELS INDEBTEDNESS INFLATION INFORMAL FINANCE INSTRUMENT INTEREST COVERAGE RATIO INTEREST RATE INTEREST RATES INTERNAL FINANCE INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL LENDING INTERNATIONAL SETTLEMENTS INVESTMENT BANK INVESTMENT CLIMATE JUDICIAL SYSTEM JUDICIAL SYSTEMS LABOR MARKETS LEGAL ENVIRONMENT LEGAL FRAMEWORK LEGAL SYSTEM LEGAL SYSTEMS LEGISLATION LENDERS LIQUID ASSETS LIQUIDATION LIQUIDITY LIQUIDITY PROBLEMS LIVING STANDARDS LOAN LOAN LOSS PROVISIONS LOAN PORTFOLIO LOCAL CURRENCY MACROECONOMIC CRISES MACROECONOMIC POLICIES MACROECONOMIC STABILITY MACROECONOMIC STABILIZATION MARKET ECONOMIES MARKET ECONOMY MARKET RISKS MARKET STRUCTURE MATURITIES MATURITY MONETARY FUND MONETARY POLICIES MONETARY POLICY MORTGAGE MORTGAGE INTEREST MORTGAGE LOANS MORTGAGES NATIONAL CREDIT NATURAL RESOURCES NONPERFORMING LOANS OIL PRICES OPEN ECONOMIES POLICY RESPONSE PRIVATE CAPITAL PRIVATE CREDIT PRIVATE INVESTMENT PRIVATE SECTOR CREDIT PRIVATIZATION PRODUCTIVITY PROFITABILITY PROPERTY RIGHTS PRUDENTIAL SUPERVISION PUBLIC DEBT PUBLIC EXPENDITURES PUBLIC FINANCES PURCHASING POWER REAL EXCHANGE RATE RECAPITALIZATION REGULATORY FORBEARANCE REGULATORY FRAMEWORKS REMITTANCE REMITTANCES REORGANIZATION RESERVE RESERVE REQUIREMENTS RETURN RETURN ON ASSETS RETURN ON EQUITY RISK FACTORS RULE OF LAW SAFETY NET SAFETY NETS SAVINGS SHORT-TERM DEBT SOCIAL SAFETY NETS SOVEREIGN BOND STATE ENTERPRISES SUBSIDIARIES SUBSIDIARY SUPERVISORY AGENCY SUPPLIES OF CREDIT SUPPLY OF CREDIT SYSTEMIC BANKING CRISES TAX TAX ADMINISTRATION TOTAL DEBT TRADING TRANSITION COUNTRIES TRANSITION COUNTRY TRANSITION ECONOMIES TRANSPORT TREATY WITHDRAWAL WORLD FINANCIAL MARKETS This book, written on the eve of the 20th anniversary of the fall of the Berlin wall in 1989, addresses three questions that relate to recession, recovery, and reform, respectively, in Europe and Central Asia (ECA) transition countries. Did the transition from a command to a market economy and the period when it took place, plant the seeds of vulnerability that made transition countries (the region excluding Turkey) more prone to crisis than developing countries generally? Did choices made on the road from plan to market shape the ability of affected countries to recover from the crisis? What structural reforms do transition countries need to undertake to address the most binding constraints to growth in a world where financial markets have become more discriminating and where capital flows to transition and developing countries are likely to be considerably lower than before the crisis? This report is structured as follows: chapter one of the book analyses how countries fell into recession and crisis, why not all of them were equally affected, and whether different policies could have positioned them better to face the crisis. Chapter two discusses rescue and stabilization and the role of international collective action. The next two chapters focus on policies for recovery, chapter three on restructuring bank, corporate and household debt and chapter four on scaling up social safety nets. Chapters five and six focus on reform, examining the binding constraints to growth and the policy agenda in the most important sectors identified by that analysis. 2012-03-19T10:04:43Z 2012-03-19T10:04:43Z 2010 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000334955_20091112015927 978-0-8213-8113-7 http://hdl.handle.net/10986/2682 English Eastern Europe and Central Asia Flagship CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank Publications & Research :: Publication Publications & Research :: Publication Europe and Central Asia Eastern Europe Central Asia Former Soviet Union |