Financial Crisis in Eastern Europe [electronic resource] : Road to Recovery /
Jungmann, Jens.editor.
Sagemann, Bernd.editor.
During the past few years all the regions of Europe have suffered from the effects of the World Financial Crisis. Most notably in Eastern Europe, countries have adopted different approaches to combat the crisis and the impact has been varying – politically, economically and socially. This book gives an overview of chosen countries and their situation before and during the crisis, providing a detailed view of the different regions during this difficult period. It also looks at their current status and the individual ways in which they have attempted to stimulate recovery.
Description based upon print version of record.
Foreword; Preface; Overview; List of Abbreviations; The World Financial Crisis; The Great Subprime Credit Crisis and its Impact on Eastern Europe; 1. Introduction; 2. The Great Subprime Credit Crisis and its Global Impact; 2.1. The Causes of the Subprime Credit Crisis; 2.1.1. Politicians Assisted in Creating the Subprime Monster; 2.1.2. Central Banks Fuelled the Crisis; 2.1.3. The Necessary Toolset; 2.1.4. The Case of AIG; 2.1.5. The Monolines; 2.1.6. The Low Interest Rate Environment and the Demand for Higher Yield; 2.1.7. The Need to Deleverage
2.1.8. The Fiction of the Strong US Borrower and Predatory Lending Practices2.1.9. The Rating Agencies Were Driving through the Rear-view Mirror; 2.1.10. The Markowitz Hypothesis; 2.1.11. Moral Hazard in the Financial System; 2.2. How the Subprime Crisis Developed to a Global Credit Crunch; 2.2.1. The Magnitude of the Credit Crisis; 2.2.2. How the Crisis in Subprime Debt Infected Other Markets; 2.2.3. Hedge Funds and other Near-Banks; 3. The Impact of the Subprime Credit Crisis in Eastern Europe; 3.1. The Rise and Fall of the Countries in the Region
3.2. The Role of the Government to Fight Back the Crisis Specific Areas of Crisis in Eastern Europe; Bulgaria: The Deferred Crisis; 1. Situation before the Crisis; 1.1. Retrospective Overview; 1.1.1. The Decade of Downfall post 1989; 1.1.2. The Boom Decade; 1.2. Financial Status of the Private Sector; 1.3. Financial Status of the Public Sector; 1.4. Development Status of the Real Economy; 1.4.1. Development Status of the Bank Sector; 1.4.2. Development Status of Other Sectors; 2. The Impact of the World Financial Crisis(2008/2009/2010); 2.1. Outline of the Expansion of the Crisis in Bulgaria
2.2. Domestic Impact2.2.1. Private Sector Recession; 2.2.2. Governmental Involvement; 2.3. Foreign Impact; 3. Challenges and Coping with the Financial Crisis; 3.1. Fiscal Measures; 3.2. Macroeconomic Stimulation Measures; 4. Outlook for the Coming Years; 4.1. Pro-cyclical and Anti-cyclical Effects; 4.2. Fiscal Prospects; 4.3. Prospects for the Real Economy; Czech Republic: Crisis Postponed - Navigation to Recovery; 1. Situation before the Crisis; 1.1. Methodology; 1.2. Economic Development; 1.2.1. The Lean Years of Economic Transformation; 1.2.2. The Fat Years Before the Crisis
1.2.3. Bountiful Years Just Before the Crisis2. The Impact of the World Financial Crisis(2008/2009/2010); 2.1. Economic Development in 2008, 2009 and2010; 2.1.1. So Far So Good - Year 2008 and the Onset of Global Crisis; 2.1.2. 2009 - The First Year of Crisis; 2.1.3. Development in the First Quarter of 2010; 2.2. Banking and Financial Crisis in the Czech Republic; 2.2.1. Development of Czech Banking System; 2.2.2. Interest Rate Development; 2.2.3. Credit Availability; 2.2.4. Czech Currency Development; 2.2.5. Maastricht Criteria; 2.2.6. Stock Market Developments
2.3. Mortgage Lending Crisis in the Crisis
During the past few years all the regions of Europe have suffered from the effects of the World Financial Crisis. Most notably in Eastern Europe, countries have adopted different approaches to combat the crisis and the impact has been varying – politically, economically and socially. This book gives an overview of chosen countries and their situation before and during the crisis, providing a detailed view of the different regions during this difficult period. It also looks at their current status and the individual ways in which they have attempted to stimulate recovery.
Finance.
Management.
Finance, general.
Management.