出版社：Bank of Finland Institute for Economies in Transition (BOFIT)
摘要：Against the backdrop of the international financial and economic crisis, this paper seeks to identify financial vulnerabilities in Emerging Europe. Data are presented for 20 countries using a ‘balance-sheet’ framework to disaggregate financial weaknesses within each economy. First, financial flow imbalances and general macroeconomic weaknesses are identified, leading to a discussion of the financial stock imbalances that were caused by these persistent flow imbalances. The paper concludes with an assessment of which countries are most vulnerable to any potential ‘sudden-stop’ of financial flows to the region.
