Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212503 
Year of Publication: 
2002
Series/Report no.: 
BOFIT Discussion Papers No. 5/2002
Publisher: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Abstract: 
The aim of paper is to analyse the vulnerability of the Central and Eastern European accession countries to the EU as well as that of Turkey and Russia to a financial crisis. Our methodology is an extension of the signals approach. We develop a composite indicator to measure the evolutin of of the risk potential in each country. Our findings show that crises in Central and Eastern Europe are caused by much the usual suspects s in others emerging markets. In particular an overvalued exchange rate. Weak exports and dwindling currency reserves have good precictive power for assessing crisis vulnerabilities.
Subjects: 
financial crises
vulnerability indicator
Central and Eastern Europe
JEL: 
F31
F47
Persistent Identifier of the first edition: 
ISBN: 
951-686-827-4
Document Type: 
Working Paper

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