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Costs of Macroeconomic Instability in Accession Countries

In: Reforming the Financial Sector in Central European Countries

Author

Listed:
  • Jan Frait
  • Luboš Komárek
  • Martin Melecký

Abstract

The aim of this chapter is to show the impact of macroeconomic and financial instabilities on the CEC in the last ten years whereby financial crises and swings in macroeconomic conditions were among the most important driving forces of changes in reform strategies. This chapter proceeds as follows. The first section will show some of the main revisions of the transition process. The next section will provide some generalizations and facts concerning the activities of the fundamental indicators among selected countries that are crucial for financial instability. Section 5.3 will analyse the effect of currency crises on investment and economic performance for CEC, as well as other selected ACC. And finally, the chapter will conclude with a summary of our findings as well as some issues to consider for future research.

Suggested Citation

  • Jan Frait & Luboš Komárek & Martin Melecký, 2004. "Costs of Macroeconomic Instability in Accession Countries," Studies in Economic Transition, in: Stanislav Polouček (ed.), Reforming the Financial Sector in Central European Countries, chapter 5, pages 136-168, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-1-4039-3780-3_5
    DOI: 10.1057/9781403937803_5
    as

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