Banking, International Capital Flows and Growth in Europe: Financial Markets, Savings and Monetary Integration in a World with Uncertain Convergence

ISBN-13: 9783642638237 / Angielski / Miękka / 2012 / 458 str.

Paul J. J. Welfens; Holger C. Wolf

Opis

Financial Markets Savings and Monetary Integration in a World with Uncertain Convergence.

Spis treści

Banking in Europe and Growth: P.J.J. Welfens: Banks, Capital Markets, R&D and Economic Growth in Europe: Banks and Capital Markets in Western Europe; Banking, Capital Markets and Economic Growth in Eastern Europe and Russia.- J. Priesemann: Policy Options for Prudential Supervision and Central Banks' Involvement; The Model Envisaged in the Maastricht Treaty; Challenges for Supervisors.- E. Gavrilenkov: Banking, Privatization and Economic Growth in Russia: Brief Chronicle of Banking Sector Developments during the Reforms; The Banking System and the Household Sector; The Radical Shift in Fiscal Policy, Money and Banking in 1995; Propensities for Economic Growth in Russia.- P. Hertner: Historical Lessons for Foreign Banking in Eastern Europe. The Case of Tsarist Russia: Foreign Banking in the 19th Century: Possible Choices and Real Development; Russia's Economic Development and its Foreign Debt between the 1860s and the First World War; Foreign Banks and Foreign Investment in Russia until the 1870s; Foreign Banking in Russia until the 1880s; Foreign Banking from the 1890s to the First World War; Foreign Banking in Russia on the Eve of World War I: Quantitative and Qualitative Evidence; Some Conclusions and Possible Lessons.- M. Bojanczyk: Restructuring and Privatization of Polish Banks: Restructuring the Banking Sector; Privatization of Polish Banks.- T. Lane: High Public Debt: Consequences for Investment and Growth: A Simple Framework; Endogenous Growth and Infrastructure; Ricardian Equivalence; Costs of Inflation; Empirical Evidence on Fiscal Policy and Growth; Political Economy and Regime Switching.- International Capital Flows and Growth: J.M. van Brabant: Banking, Foreign Investment, Endogenous Growth and Systemic Transformation: The Holy Trinity and Successful Transformation; Towards Modernization and FI; Towards Endogenous Growth; Expectations and Realities about FI Inflows; Some Illustrative Negative Aspects of FI; Economic Development and FI; The Experience of South and East Asia and the PETs; Managing FI and Financial Restructuring - Lessons for PETs.- E.B. Koch: Capital Flows in eastern Europe: Some Lessons from the Emerging Markets in Latin America and Asia: Capital Inflows to Central Europe: Stylized Macroeconomic Features Influencing Capital Flow Experiences in Latin America, Asia and Central Europe; Composition of Capital Flows; Some Key Policy Issues.- T. Gries, A. Schweinberger: Catching Up Economies in Transformation: A Model of an Economy in Transformation; Dynamics of the Transition Economies; The Employment Problem.- H.C. Wolf: Savings, Credit markets and Economic Growth in Europe: The Setting; Savings: Quantitative Aspects; Savings: Allocative Aspects.- E.M. Graham: US Multinationals and Europe: An Update: Possible Reasons for US Direct Investment in Europe.- J. Stankovsky: Multinational Investment and Economic Growth in Eastern Europe: Introduction: Volume and Growth of Foreign Direct Investment in the East; The Role of FDI in the Transformation of Eastern Europe: Expectations: Economic Growth and Investment in Eastern Europe: Recent Developments; Second Thoughts Concerning the Role of FDI in Eastern Europe; Importance of FDI for Eastern Europe; Are There Negative Secondary Effects of FDI in Eastern Europe?; Absorption Capacity of eastern Europe for FDI; A Short Conclusion.- Panel Discussion: The Bank's Role in Financing Economic Expansion in Eastern Europe: R. Nyers: Recent Developments in the Hungarian Financial Sector.- W. Varga: Zur aktuellen Situation in der Bankwirtschaft der Reformländer.

O autorze

The volume presents an in-depth analysis of international capital flows, private and public investment and economic growth. It derives new results about the prospects of economic consequence in Europe.