Capital Flows in Central and Eastern Europe [electronic resource] : Evidence and Policy Options / Carlos A Végh Gramont.
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TextSeries: IMF Working Papers; Working Paper ; No. 95/57Publication details: Washington, D.C. : International Monetary Fund, 1995Description: 1 online resource (48 p.)ISBN: 1451847742 :ISSN: 1018-5941Subject(s): Capital Flows | Capital Inflows | Exchange Rate | Real Effective Exchange Rates | Real Exchange Rate | Bulgaria | SlovakiaAdditional physical formats: Print Version:: Capital Flows in Central and Eastern Europe : Evidence and Policy OptionsOnline resources: IMF e-Library | IMF Book Store Abstract: This paper examines the nature and composition of capital flows in selected countries in Central and Eastern Europe during 1987-93. The data show that there was a remarkable turnaround in the capital account in 1992-93. This improvement was accompanied by widening current account deficits, an increase in real consumption, and real exchange rate appreciation. In light of these developments, the paper discusses the main macroeconomic concerns raised by capital inflows and lays out the principal policy options relevant for the transition economies.
This paper examines the nature and composition of capital flows in selected countries in Central and Eastern Europe during 1987-93. The data show that there was a remarkable turnaround in the capital account in 1992-93. This improvement was accompanied by widening current account deficits, an increase in real consumption, and real exchange rate appreciation. In light of these developments, the paper discusses the main macroeconomic concerns raised by capital inflows and lays out the principal policy options relevant for the transition economies.
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