This paper takes stock of the progress achieved by the ten Central and Eastern European countries, which entered the EU in 2004 and 2007, in terms of their real and nominal economic convergence visà- vis the twelve EU Member States which were part of the euro area in 2004. It thus offers a...

Since joining the EU in 2004, bank lending to the non-financial private sector in Slovakia has grown continuously. While corporate credit volumes stopped growing in the aftermath of the 2008/09 global financial crisis, household borrowing has continued to grow at double digit rates, mainly to...

This Economic Brief reviews the main features of monetary policy frameworks implemented by the major central banks following the collapse of the Bretton Woods system of fixed exchange rates in the early 1970s. It discusses how these frameworks were affected by the academic views prevailing at...

Summary for non-specialistsThis paper looks at capital flows to the new EU Member States from Central and Eastern Europe (NMS10) during the last decade. Firstly, it analyses the role of various types of foreign capital flows – direct investment, portfolio investment, financial derivatives...

This Economic Brief reviews the main features of monetary policy frameworks implemented by the major central banks following the collapse of the Bretton Woods system of fixed exchange rates in the early 1970s. It discusses how these frameworks were affected by the academic views prevailing at...