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Supervisory Systems, Fiscal Soundness and International Capital Movement: More Challenges for new EU Members

Editor

Listed:
  • Morten Balling

Author

Listed:
  • Andreas Grünbichler
  • Patrick Darlap
  • Sinikka Salo
  • Leslie Lipschitz
  • Timothy Lane
  • Alex Mourmouras

Abstract

On May 1, 2004, ten countries in Central, Eastern and Southern Europe will become full members of the EU. The parliaments and monetary authorities of the ten accession countries have already to a large extent adapted their legal and institutional structures to the new Europe-wide environment. The papers in this SUERF Study analyse from different perspectives the challenges to regulators, supervisors, Governments and central bankers that are related to safeguarding financial stability in a large economic union with financial markets that are open to global competition. The papers were presented in March 2003 at a seminar jointly organised by SUERF and the Central Bank of Malta.

Suggested Citation

  • Andreas Grünbichler & Patrick Darlap & Sinikka Salo & Leslie Lipschitz & Timothy Lane & Alex Mourmouras, 2004. "Supervisory Systems, Fiscal Soundness and International Capital Movement: More Challenges for new EU Members," SUERF Studies, SUERF - The European Money and Finance Forum, number 2004/1 edited by Morten Balling, May.
    • Handle: RePEc:erf:erfstu:28
    as

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    References listed on IDEAS

    as
    1. 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.
    2. Lucas, Robert E, Jr, 1990. "Why Doesn't Capital Flow from Rich to Poor Countries?," American Economic Review, American Economic Association, vol. 80(2), pages 92-96, May.
    3. Boorman, Jack & Lane, Timothy & Schulze-Ghattas, Marianne & Bulir, Ales & Ghosh, Atish R. & Hamann, Javier & Mourmouras, Alex & Phillips, Steven, 2000. "Managing financial crises: the experience in East Asia," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 53(1), pages 1-67, December.
    4. Cem Karacadag & Michael W. Taylor, 2000. "The New Capital Adequacy Framework - Institutional Constraints and Incentive Structures," SUERF Studies, SUERF - The European Money and Finance Forum, number 8 edited by Morten Balling, May.
    5. Willem Buiter & Clemens Grafe, 2001. "Central Banking and the Choice of Currency Regime in Accession Countries," Revue d'Économie Financière, Programme National Persée, vol. 6(1), pages 287-318.
    6. Mr. Cem Karacadag & Mr. Michael W Taylor, 2000. "The New Capital Adequacy Framework: Institutional Constraints and Incentive Structures," IMF Working Papers 2000/093, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Regulatory Integration; Supervisory Design; fiscal theory of price level; EU accession countries; Central and Eastern Europe; capital flows; convergence; macroeconomic policy;
    All these keywords.

    JEL classification:

    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • F3 - International Economics - - International Finance
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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