The Acceding Countries' Strategies Towards Erm Ii and the Adoption of the Euro: An Analytical Review

Backé, Peter; Thimann, Christian; Arratibel, Olga; Calvo-Gonzalez, Oscar; Mehl, Arnaud; Nerlich, Carolin

doi:10.2139/ssrn.748973

Cited by 30 publications

(2 citation statements)

References 19 publications

(23 reference statements)

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“…But stable and sustainable exchange rate regimes are a necessary, though not sufficient, condition for financial stability. Backé and others (2004) distinguish between countries that have given up their monetary policy through the adoption of a currency board or a fixed exchange rate regime (Cyprus, Estonia, Latvia, Lithuania, Malta, and Slovenia), and all other countries, which can use the exchange rate as a stabilizing tool. No change in strategy is expected for the former group, although, in some cases, there may need to be some adjustments in the parities.…”

Section: Exchange Rate Strategymentioning

confidence: 99%

Decomposing Financial Risks and Vulnerabilities in Eastern Europe

Worrell

Maechler²,

Mitra³

2007

IMF Working Papers

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This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. This paper assesses how various types of financial risk such as credit risk, market risk, and liquidity risk affect banking stability in the ten countries that joined the European Union most recently, and eight neighboring countries. It also examines how the quality of supervisory standards may have mitigated the vulnerabilities arising from these risk factors. Using panel data, the study finds substantial variation in the impacts of financial risks, the macroeconomic environment, and supervisory standards on banks' risk profile across different country clusters. Credit quality is of general concern especially in circumstances where credit growth is accelerating.

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Section: Exchange Rate Strategymentioning

confidence: 99%

Decomposing Financial Risks and Vulnerabilities in Eastern Europe

Worrell

Maechler²,

Mitra³

2007

IMF Working Papers

View full text Add to dashboard Cite

show abstract

“…However, the convergence of per capita income levels is the most frequently used definition of the term "real convergence" in the economic literature. 4 For other ECB studies looking at the new EU Member States, see also Backé et al (2004), Angeloni, Flad and Mongelli (2005), and Afonso, Schuknecht and Tanzi (2006). 5 Another very important aspect of the real convergence process is developments in financial markets.…”

Section: Introductionmentioning

confidence: 99%