IDEAS home Printed from https://ideas.repec.org/a/ces/ifodre/v16y2009i04p39-44.html
   My bibliography  Save this article

Eurovisionen in Mittel- und Osteuropa im Zeichen der Finanzmärkte

Author

Listed:
  • Gunther Schnabl

Abstract

Die jüngste Weltwirtschafts- und Finanzkrise hat die Gruppen der Euro-Skeptiker und Euro-Gegner nochmals kräftig durcheinander gewirbelt. Frühere strikte Euro-Gegner wie Dänemark und Island wollen neuerdings beitreten. Polen – nach wie vor überzeugter Anhänger flexibler Wechselkurse – ist dem vom IWF vorgeschlagenen raschen Beitritt zur Europäischen Währungsunion (EWU) nicht mehr abgeneigt. Hingegen leiden die Euroländer Spanien, Italien, Griechenland und Irland unter hohen Preisniveaus und geringer Wettbewerbsfähigkeit. Europa ist in der währungspolitischen Orientierungslosigkeit angekommen, in deren Zentrum der stabile Euro ruht. Die Zeichen für weitere Erweiterungsrunden, vor allem amöstlichen Rand des Eurogebiets, standen nie so gut, während – getrieben von explodierender Staatsverschuldung – Zweifel an der Stabilität der gemeinsamen Währung wachsen.

Suggested Citation

  • Gunther Schnabl, 2009. "Eurovisionen in Mittel- und Osteuropa im Zeichen der Finanzmärkte," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 16(04), pages 39-44, August.
    • Handle: RePEc:ces:ifodre:v:16:y:2009:i:04:p:39-44
    as

    Download full text from publisher

    File URL: https://www.ifo.de/DocDL/ifodb-2009-04_39-44.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Gunther Schnabl & Andreas Hoffmann, 2008. "Monetary Policy, Vagabonding Liquidity and Bursting Bubbles in New and Emerging Markets: An Overinvestment View," The World Economy, Wiley Blackwell, vol. 31(9), pages 1226-1252, September.
    2. Barry Eichengreen & Ricardo Hausmann, 1999. "Exchange rates and financial fragility," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 329-368.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kristina Spantig, 2015. "The role of the financial sector in enhancing economic growth in the Lao People’s Democratic Republic," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 22(1), pages 67-98, June.
    2. Mathilde Maurel & Gunther Schnabl, 2012. "Keynesian and Austrian Perspectives on Crisis, Shock Adjustment, Exchange Rate Regime and (Long-Term) Growth," Open Economies Review, Springer, vol. 23(5), pages 847-868, November.
    3. Ansgar Belke & Gunther Schnabl & Holger Zemanek, 2013. "Real Convergence, Capital Flows, and Competitiveness in Central and Eastern Europe," Review of International Economics, Wiley Blackwell, vol. 21(5), pages 886-900, November.
    4. Ansgar Belke & Ulrich Haskamp & Gunther Schnabl, 2018. "Beyond Balassa and Samuelson: real convergence, capital flows, and competitiveness in Greece," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 45(2), pages 409-424, May.
    5. Andreas Hoffmann, 2010. "An Overinvestment Cycle In Central And Eastern Europe?," Metroeconomica, Wiley Blackwell, vol. 61(4), pages 711-734, November.
    6. repec:zbw:rwirep:0147 is not listed on IDEAS
    7. Ansgar Belke & Gunther Schnabl & Holger Zemanek, 2009. "Real Convergence, Capital Flows, and Competitiveness in Central and Eastern Europe," Ruhr Economic Papers 0147, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    8. Yeyati, Eduardo Levy & Morón, Eduardo, 2006. "Comments," LSE Research Online Documents on Economics 123116, London School of Economics and Political Science, LSE Library.
    9. Sebnem Kalemli-Ozcan & Herman Kamil & Carolina Villegas-Sanchez, 2016. "What Hinders Investment in the Aftermath of Financial Crises: Insolvent Firms or Illiquid Banks?," The Review of Economics and Statistics, MIT Press, vol. 98(4), pages 756-769, October.
    10. Mika Nieminen, 2017. "Patterns of international capital flows and their implications for developing countries," WIDER Working Paper Series wp-2017-171, World Institute for Development Economic Research (UNU-WIDER).
    11. Roy, Saktinil & Kemme, David M., 2012. "Causes of banking crises: Deregulation, credit booms and asset bubbles, then and now," International Review of Economics & Finance, Elsevier, vol. 24(C), pages 270-294.
    12. Bleakley, Hoyt & Cowan, Kevin, 2010. "Maturity mismatch and financial crises: Evidence from emerging market corporations," Journal of Development Economics, Elsevier, vol. 93(2), pages 189-205, November.
    13. Georgiadis, Georgios & Zhu, Feng, 2021. "Foreign-currency exposures and the financial channel of exchange rates: Eroding monetary policy autonomy in small open economies?," Journal of International Money and Finance, Elsevier, vol. 110(C).
    14. Guillermo A. Calvo & Carmen M. Reinhart, 2002. "Fear of Floating," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(2), pages 379-408.
    15. Stijn Claessens & M. Ayhan Kose, 2013. "Financial Crises: Explanations, Types and Implications," CAMA Working Papers 2013-06, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    16. Ashis Kumar Pradhan & Gourishankar S Hiremath, 2020. "Do external commercial borrowings and financial development affect exports?," Cogent Business & Management, Taylor & Francis Journals, vol. 7(1), pages 1796269-179, January.
    17. Ayadi, Rym & Arbak, Emrah & Ben-Naceur, Sami & De Groen, Willem Pieter, 2013. "Determinants of Financial Development across the Mediterranean," CEPS Papers 7770, Centre for European Policy Studies.
    18. Marco Bassetto & Carlo Galli, 2019. "Is Inflation Default? The Role of Information in Debt Crises," American Economic Review, American Economic Association, vol. 109(10), pages 3556-3584, October.
    19. H. Gao, 2008. "Global dollar standard: challenges for Asian financial integration," Economic Change and Restructuring, Springer, vol. 41(4), pages 369-382, December.
    20. Enisse Kharroubi, 2004. "Macroeconomic Volatility and endogenous debt maturity choice," Money Macro and Finance (MMF) Research Group Conference 2004 22, Money Macro and Finance Research Group.
    21. M, Ramachandran & Maheswari, D., 2022. "Asymmetry in forex market intervention: Does it reflect fear of reserve inadequacy?," The Journal of Economic Asymmetries, Elsevier, vol. 25(C).

    More about this item

    Keywords

    Finanzmarkt; Finanzmarktkrise; Wirtschaftskrise; Prognose;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ces:ifodre:v:16:y:2009:i:04:p:39-44. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Klaus Wohlrabe (email available below). General contact details of provider: https://edirc.repec.org/data/ifooode.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.