Opportunities and Risks in Central European Finances (European Union Accession)

The Recent Emerging Market Crises In Asia And Other Regions Suggests That While International Capital Inflows Can Make Recipient Economies Stronger, They Can Potentially Also Increase The Vulnerability Of These Economies To Financial Market Crises. Two Of The Most Notable Sources Of Vulnerability Are The Quality Of Domestic Financial Intermediation And The Speculative Nature Of Some Investment Flows. 'opportunities And Risks In Central European Finances' Examines The Nature Of Capital Flows In The Region, Seeking To Explain Its Dynamics, And Potential Sources Of Vulnerability. The Book Also Appraises Some Potential Costs That Could Be Associated With A Financial Crisis. Finally, It Presents Views On How To Manage These Risks More Effectively. Pt. 1. Do Capital Flows Make Countries Vulnerable? Overview / Hana Polackova Brixi. Financial Integration, Vulnerabilities To Crisis, And Eu Accession In Five Central European Countries / Mustapha K. Nabli. Capital Flows To Central And Eastern Europe And The Former Soviet Union / Stijn Claesens, Daniel Oks And Rossana Polastri. Fiscal Contingency Planning For Banking Crises / Patrick Honohan. Hidden Deficits And Contingent Liabilities / Homi Kharas And Deepak Mishra. Opportunities For Government Management Of Fiscal Risks In Eu Accession Countries / Hana Polackova Brixi. Central Bank Use Of Derivatives And Other Contingent Liabilities: Analytical Issues And Policy Implications / Mario I. Blejer And Liliana Schumacher. Co-sponsored By The European Commission And The World Bank. Includes Bibliographical References.