The Last Shall Be the First: The East European Financial Crisis

adopt the euro Anders Åslund Argentina average banking system billion budget deficit Bulgaria capital inflows CEE-10 countries Central and Eastern convergence Credit Boom crises crisis countries crisis resolution currency board countries currency boards current account deficits Czech Republic devaluation domestic East Asian East European countries EAST EuRopEAn FInAncIAL Eastern Europe economic growth Economy oF cRISIS ERM II Estonia euro European Commission EuRopEAn FInAncIAL cRISIS European Union eurozone eurozone countries exchange rate policy fiscal policy fixed exchange rates floating exchange rates foreign debt Greece Hungary IMF program inflation targeting Institute for International International Economics International Monetary Fund investment January large current account liquidity Lithuania loans Maastricht criteria Marek Dabrowski monetary policy October overheating pean pension percent of GDP Peterson Institute postcommunist Prime Minister public debt public expenditures reserves Romania share of GDP Slovakia Slovenia structural reforms swap Washington West European banks World Bank