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wiiw Seminar Series
'Crisis Management in Central, East and Southeast Europe:
What is to be done?' |
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| Venue:
wiiw, 1060 Vienna, Rahlgasse 3, lecture hall (entrance from
ground floor) |
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| The wiiw
seminar series 'Crisis management in Central, East and Southeast
Europe: What is to be done?' addresses the impact of the current
global financial and economic crisis on the CEE, SEE and CIS
countries and discusses possible policy responses. The crisis
has hit each economy of the region but the depth and characteristics
of the crisis vary from country to country depending on factors
such as the openness of the economy to international trade,
the extent of public and private debt, the manoeuvring room
for the fiscal policy, the exchange rate regime, the share of
foreign ownership in the banking system, and last but not least
political economy issues. Though policy responses in the countries
concerned may partly be similar to those in highly developed
countries, the generally lower level of development, the relatively
young and shallow financial sector and finally the outstanding
role of foreign ownership both in the banking system and in
manufacturing call for innovative solutions which extensively
take into consideration the specific circumstances of these
countries. Innovative solutions necessitate, among others, a
critical assessment of previous experiences with crises in the
countries concerned and in other countries of the world economy
but also flexibility and readiness to find new solutions. External
support is indispensable here and it necessitates a reconsideration
of philosophy and practice of international financial institutions
like the ECB and the IMF as well as that of the European Commission.
Discussing the ways of efficient crisis management both by the
countries concerned and the international institutions are the
focus of this seminar series. |
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Ales
Bulir, IMF |
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Monetary Policy Rules with
Financial Instability
8 Februiary 2010, 5:15 p.m. |
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| Informal introductory
talk to the new seminar series: |
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