Financial Integration In New Europe: Overview And Implications For Further Growth Policies In Serbia
Besides the incontestable benefits of financial development for output growth and increase of living standard across the region of so called Emerging Europe, many of underlying risks have been manifested during past two years, since the global financial crisis breakout. The aim of this paper is to overview the last two decades of financial integration with its impact on growth and income convergence of these economies. Moreover, in the perspective of change in global financial system and lower availability of foreign finance for emerging Europe, we also overview all risks stemming from the achieved level of financial integration for the macroeconomic stability. We document all identifies risks using the data for Serbia. Finally, after identifying all challenges for macroeconomic stability, we stress the importance of sustainable growth policies in the future which should aim to increase productivity and competitiveness.
Volume (Year): (2012)
Issue (Month): 1-2 (February)
|Contact details of provider:|| Postal: |
Phone: +381 11 3613-409; +381 11 2644-980
Fax: +381 11 3629-689
Web page: http://www.ses.org.rs
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:srb:journl:y:2012:i:1-2:p:51-62. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Milos Stamatovic)
If references are entirely missing, you can add them using this form.