Financialisation and Financial Crisis in South-Eastern European Countries

The book discusses various cases of financialisation and financial crisis in South-Eastern Europe. While these can be directly traced to the region's reliance upon the global financial regime, the interplay of international financial institutions, the eurozone's rigidity and domestic policies have produced various outcomes in the countries of the region. The study presents quantitative and qualitative research and offers new insights into the processes that shape the financial and monetary systems. The ex post analysis of how financial instability was created and how it could have been prevented, hopes to provide insights for policy-makers today.

Autorentext

Dubravko RadoSevic is Senior Research Associate at the Institute of Economics in Zagreb. He served as a central bank official and economic adviser to the President of the Republic of Croatia.
Vladimir Cvijanovic is an independent researcher and consultant. He holds a doctorate from Goethe University Frankfurt.

Inhalt

Contents: Malcolm Sawyer: Foreword - Dubravko RadoSevic/Vladimir Cvijanovic: Introduction - Eckhard Hein: Finance-Dominated Capitalism: Potentials for Systemic Instabilities and Crises - Petra Rodik/Mislav Zitko: Financialization, Household Debt and New Vulnerabilities in Post-Socialist Societies - Joachim Becker/Predrag Cetkovic: Patterns of Financialisation in Southeast European and Visegrád Countries - Gordana Kordic: Euro zone Debt Crisis, Exchange Rate Policies and Accession to the European Monetary Union - Ognjen Radonjic/Srdjan Kokotovic: Minskyan Liquidity Model Explanation of Financial Crisis in Emerging Europe - Dubravko RadoSevic: Capital Account Mismanagement, Deleveraging and Unstable Economy in the European Union Periphery Countries: The Case of Croatia and Slovenia - Vladimir Cvijanovic/Aleksandar KeSeljevic: Financialisation in Croatia and Slovenia - Franjo stiblar: The Introduction of the Euro and the Financial Instability in Slovenia: Lessons and Policy Recommendations - Kosmas Manoudakis: Regarding an «Innocent» Mistake of the IMF: The Greek Case: an Input Output Approach - Tomislav Globan: Financialization in CESEE Countries - The Story of Debt vs. Equity - Aleksandar Stojkov/Thierry Warin: Determinants of External Current Accounts in South Eastern Europe - Neven Vidakovic/DuSan ZbaSnik: Capital Flows, Credit Crunch and Deleveraging Dynamics: The Case of Slovenia, Croatia and Hungary in Comparison.