European Parliament Library

Do Economists’ and Financial Markets’ Perspectives on the New Members of the EU differ?, Susan Schadler, Pipat Luengnaruemitchai

Abstract
In the past several years, the ten new Central and Eastern European members of the European Union have enjoyed rapid growth but frequently alongside growing external imbalances. Economists have pointed to rising vulnerabilities, but markets compressed sovereign bond yields. This paper examines the evidence from the perspective of economists' vulnerability analysis and markets' pricing of sovereign bonds. It finds that spread are lower than can be explained by "fundamentals" and speculates on the causes and permanence of this yield compression
Table Of Contents
Contents; I. Introduction; II. Macroeconomic performance and vulnerabilities; Figures; 1. Growth of Real GDP per Capita, 2001-07; 2. Average CPI Inflation; 3. Average Current Account Balance; 4. Emerging Markets: Investment and Saving, Average 2004-06; 5. Investment-Saving Gap and Current Account Deficit; 6. Net Capital Flows to Emerging Markets; 7. Average Gross and Net External Debt; 8. Official Reserves in Percent of Short-term Debt; 9. Selected Banking Indicators; 10. CECs and Other Emerging Markets-Financial Market Development, 2001-07
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (33 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781283515375

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