Opportunities and Risks in Central European Finances
The recent emerging market crises in Asia and other regions suggests that while international capital inflows can make recipient economies stronger, they can potentially also increase the vulnerability of these economies to financial market crises. Two of the most notable sources of vulnerability are the quality of domestic financial intermediation and the speculative nature of some investment flows. 'Opportunities and Risks in Central European Finances' examines the nature of capital flows in the region, seeking to explain its dynamics, and potential sources of vulnerability. The book also appraises some potential costs that could be associated with a financial crisis. Finally, it presents views on how to manage these risks more effectively.
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accession activities administrative adopted agencies analysis applied approach assets authorities capital flows central bank Chapter Commission considered contingent cost Council countries crises crisis currency Czech Republic debt deficits deposit Directive discussed domestic economies effects emerging established European example exchange rate expected experience factors financial markets financial sector Financial Services firms fiscal foreign framework Fully functions funds growth guarantee Hungary implementation important increased indicators inflows institutions integrated interest investment issues laws less liabilities liberalization limited loans Member ment monetary official operations particular percent period Poland portfolio positive possible problems progress recent reform regulation regulatory requirements respect responsible result risk role securities significant single special edition stability Stage structure supervision supervisory tion trade transition types Volume vulnerability
Page 337 - December 1977 on the co-ordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions, OJ, 1322, p.
Page 338 - July 1973 on the coordination of laws, regulations and administrative provisions relating to the taking-up and pursuit of the business of direct insurance other than life assurance.
Page 279 - Membership requires that the candidate country has achieved stability of institutions guaranteeing democracy, the rule of law, human rights and respect for and protection of minorities, the existence of a functioning market economy as well as the capacity to cope with competitive pressure and market forces within the Union.
Page 333 - June 1992 on the co-ordination of laws, regulations and administrative provisions relating to direct insurance other than life assurance and amending Directives 73/239/EEC and 88/357/EEC (Third Non-life Insurance Directive) (OJ L 228, 1 1.8.1992, p.
Page 122 - An option contract gives the holder the right but not the obligation to buy (call option) or to sell (put option) an asset at a predetermined future time and price. This predetermined price is known as the strike price and the predetermined date is known as the expiration or maturity date. At the time of purchase, the buyer of an option contract pays an option price to the option writer.
Page 340 - March 1980 coordinating the requirements for the drawing up, scrutiny and distribution of the listing particulars to be published for the admission of securities to official stock exchange listing Regular Reporting.
Page 335 - November 1990 on the coordination of laws, regulations and administrative provisions relating to direct life assurance...
Page 334 - April 1972 on the approximation of the laws of the Member States relating to insurance against civil liability in respect of the use of motor vehicles and to the enforcement of the obligation to insure against such liability; Official Journal L 103, 02/05/1972 PP.
Page 279 - ... stability of institutions guaranteeing democracy, the rule of law, human rights and respect for and protection of minorities • the existence of a functioning market economy, as well as the capacity to cope with competitive pressure and market forces within the Union • the ability to take on the obligations of membership, including adherence to the aims of political, economic and monetary union.
Page 342 - March 1979 coordinating the conditions for the admission of securities to official stock exchange listing (OJ 1979 L 66, p.