期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2010
出版社：European Central Bank
摘要：The paper fi rst reviews the main drivers of the growth and real convergence process in central, eastern and south-eastern Europe (CESEE) since 2000 and assesses the key macro-fi nancial strengths and vulnerabilities of the region at the beginning of the global economic and fi nancial crisis. The main part of the paper reviews fi nancial and real economic developments in these countries since the crisis started to impact the CESEE region. The paper fi nds that developments have been rather heterogeneous in the region. CESEE countries with the largest economic imbalances tended to be most affected. National and international support measures appear to have helped to stabilise fi nancial markets, and parent banks of foreign bank subsidiaries in CESEE were committed to sustaining their exposure to the region. The degree to which CESEE governments were able to use policy instruments to counter the real effects of the crisis is rather heterogeneous, depending inter alia on the exchange rate regime in place and the initial fi scal positions.
关键词：Financial crisis; vulnerability;indicators; central; eastern and south-eastern;Europe.
