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Central and Eastern Europe: financial markets and private capital flows

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  • Dorothy M. Sobol

Abstract

The resurgence of private capital flows to developing countries beginning in the late 1980s did not initially benefit the countries of Central and Eastern Europe. With the collapse of Communist governments throughout the region beginning in 1989 most countries in the region were absorbed in a political and economic upheaval unimaginable only years earlier. Today, while the amount of private capital entering Central and Eastern Europe is still a very small fraction of that provided to all developing countries, it has nonetheless begun to flow in. Whereas the countries in Central and Eastern Europe as a group were running capital account deficits in the early 1990s, this situation turned around beginning in 1992, as reform programs in a number of countries started to take hold.

Suggested Citation

  • Dorothy M. Sobol, 1996. "Central and Eastern Europe: financial markets and private capital flows," Research Paper 9626, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednrp:9626
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    Cited by:

    1. Stijn Claessens & Daniel Oks & Rossana Polastri, 2000. "Capital Flows to Central and Eastern Europe and the Former Soviet Union," NBER Chapters, in: Capital Flows and the Emerging Economies: Theory, Evidence, and Controversies, pages 299-339, National Bureau of Economic Research, Inc.

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    Keywords

    Capital market;

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