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Central and East European countries: Prone to currency crisis?


  • Pöschl, Josef


Central and East European Countries (CEECs) have liberalised foreign trade almost completely and capital flows quite extensively. All have balance of trade deficits. Experts are worried because in some the current account deficit is high and still rising. Current account deficits could be an indicator of domestic companies’ low competitiveness. However, also the contrary could be the case: The country’s more dynamic industries may try to increase their position vis-à-vis foreign competitors through massive import of advanced technology, in this way enlarging the trade deficit.

Suggested Citation

  • Pöschl, Josef, 1998. "Central and East European countries: Prone to currency crisis?," Discussion Papers, Research Group Transformation and Globalization FS II 98-601, Social Science Research Center Berlin (WZB).
  • Handle: RePEc:zbw:wzbtgl:fsii98601

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