Capital Flows in Central and Eastern Europe
AbstractThis 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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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 95/57.
Date of creation: 01 Jun 1995
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