Hidden Bibliographic Details
| Other authors / contributors: | Schellekens, Philip, author.
International Monetary Fund. European Department, issuing body.
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| ISBN: | 1282558137
9781282558137
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| Notes: | Includes bibliographical references (page 41).
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | This paper singles out the key short-term risks and medium-term challenges related to finance and convergence in emerging Europe. With the help of a general equilibrium theoretical framework, the paper identifies pragmatic directions for policymakers. While the "speed limits" to capital inflows may be hard to determine, the costs of breaking them are likely substantial. To ensure "safe driving," policymakers ought to build buffers and reduce vulnerabilities. Equally important, yet often overlooked, is the need to prepare for "the curve ahead"--The reversal of external current account imbalances. To avoid painful adjustments, flexible factor markets and strong financial systems will be more important than ever
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| Other form: | Print version: Bems, Rudolfs. Finance and convergence. [Washington, D.C.?] : International Monetary Fund, ©2007
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