Coricelli, Fabrizio; Ianchovichina, Elena - C.E.P.R. Discussion Papers - 2004
reducing transaction costs and introducing common standards, and continue to attract capital flows. Still, as long as financial … markets in the CEECs remain much less developed than those in the EU, output volatility is bound to remain higher in the CEECs … complete liberalization financial capital flow volatility in the CEECs may increase, and if not adequately regulated, financial …