Turmoil at Twenty : Recession,Recovery, and Reform in Central and Eastern Europe and theFormer Soviet Union

Mitra, Pradeep ; Selowsky, Marcelo ; Zalduendo, Juan

World Bank

关键词: ARBITRAGE;    ASSET RATIO;    BALANCE SHEET;    BALANCE SHEETS;    BANK EXPOSURE;   

DOI  :  10.1596/978-0-8213-8113-7
RP-ID  :  51571

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This book, written on the eve of the20th anniversary of the fall of the Berlin wall in 1989,addresses three questions that relate to recession,recovery, and reform, respectively, in Europe and CentralAsia (ECA) transition countries. Did thetransition from a command to a market economy and the periodwhen it took place, plant the seeds of vulnerability thatmade transition countries (the region excluding Turkey) moreprone to crisis than developing countries generally? Didchoices made on the road from plan to market shape theability of affected countries to recover from the crisis?What structural reforms do transition countries need toundertake to address the most binding constraints to growthin a world where financial markets have become morediscriminating and where capital flows to transition anddeveloping countries are likely to be considerably lowerthan before the crisis? This report is structured asfollows: chapter one of the book analyses how countries fellinto recession and crisis, why not all of them were equallyaffected, and whether different policies could havepositioned them better to face the crisis. Chapter twodiscusses rescue and stabilization and the role ofinternational collective action. The next two chapters focuson policies for recovery, chapter three on restructuringbank, corporate and household debt and chapter four onscaling up social safety nets. Chapters five and six focuson reform, examining the binding constraints to growth andthe policy agenda in the most important sectors identifiedby that analysis.