Financial Crisis in Eastern Europe : Road to Recovery

Online-Ressource (637p. 206 illus, digital)

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Foreword; Preface; Overview; List of Abbreviations; The World Financial Crisis; The Great Subprime Credit Crisisand its Impact on Eastern Europe; 1. Introduction; 2. The Great Subprime CreditCrisis and its Global Impact; 2.1. The Causes of the Subprime Credit Crisis; 2.1.1. Politicians Assisted in Creating the Subprime Monster; 2.1.2. Central Banks Fuelled the Crisis; 2.1.3. The Necessary Toolset; 2.1.4. The Case of AIG; 2.1.5. The Monolines; 2.1.6. The Low Interest Rate Environment and the Demandfor Higher Yield; 2.1.7. The Need to Deleverage

2.1.8. The Fiction of the Strong US Borrower and PredatoryLending Practices2.1.9. The Rating Agencies Were Driving through theRear-view Mirror; 2.1.10. The Markowitz Hypothesis; 2.1.11. Moral Hazard in the Financial System; 2.2. How the Subprime Crisis Developed to aGlobal Credit Crunch; 2.2.1. The Magnitude of the Credit Crisis; 2.2.2. How the Crisis in Subprime Debt Infected Other Markets; 2.2.3. Hedge Funds and other Near-Banks; 3. The Impact of the Subprime CreditCrisis in Eastern Europe; 3.1. The Rise and Fall of the Countries inthe Region

3.2. The Role of the Government to Fight Backthe CrisisSpecific Areas of Crisisin Eastern Europe; Bulgaria:The Deferred Crisis; 1. Situation before the Crisis; 1.1. Retrospective Overview; 1.1.1. The Decade of Downfall post 1989; 1.1.2. The Boom Decade; 1.2. Financial Status of the Private Sector; 1.3. Financial Status of the Public Sector; 1.4. Development Status of the Real Economy; 1.4.1. Development Status of the Bank Sector; 1.4.2. Development Status of Other Sectors; 2. The Impact of the World Financial Crisis(2008/2009/2010); 2.1. Outline of the Expansion of the Crisis inBulgaria

2.2. Domestic Impact2.2.1. Private Sector Recession; 2.2.2. Governmental Involvement; 2.3. Foreign Impact; 3. Challenges and Coping with theFinancial Crisis; 3.1. Fiscal Measures; 3.2. Macroeconomic Stimulation Measures; 4. Outlook for the Coming Years; 4.1. Pro-cyclical and Anti-cyclical Effects; 4.2. Fiscal Prospects; 4.3. Prospects for the Real Economy; Czech Republic:Crisis Postponed - Navigation toRecovery; 1. Situation before the Crisis; 1.1. Methodology; 1.2. Economic Development; 1.2.1. The Lean Years of Economic Transformation; 1.2.2. The Fat Years Before the Crisis

1.2.3. Bountiful Years Just Before the Crisis2. The Impact of the World Financial Crisis(2008/2009/2010); 2.1. Economic Development in 2008, 2009 and2010; 2.1.1. So Far So Good - Year 2008 and the Onset of Global Crisis; 2.1.2. 2009 - The First Year of Crisis; 2.1.3. Development in the First Quarter of 2010; 2.2. Banking and Financial Crisis in the CzechRepublic; 2.2.1. Development of Czech Banking System; 2.2.2. Interest Rate Development; 2.2.3. Credit Availability; 2.2.4. Czech Currency Development; 2.2.5. Maastricht Criteria; 2.2.6. Stock Market Developments

2.3. Mortgage Lending Crisis in the Crisis

10.1007/978-3-8349-6553-0 [DOI]

ECONIS - Online Catalogue of the ZBW