Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/54149
Authors: 
Pistor, Katharina
Year of Publication: 
2010
Series/Report no.: 
Working paper // World Institute for Development Economics Research 2010,65
Abstract: 
Twenty years after the fall of the iron curtain - which for decades had separated East from West - most countries of Central and Eastern Europe are now members of the European Union; some have even adopted the euro. Nonetheless, these countries have also remained exceptionally vulnerable to upset, including those that originate beyond their immediate sphere of influence as revealed by the global financial crisis. This paper explains this with the governance of finance, i.e., the allocation of de jure and de facto responsibilities for financial systems, which deprives host countries of capital flows of critical policy tools.
Subjects: 
financial regulation
global finance
home-host country regulation
JEL: 
G28
K20
P34
ISBN: 
978-92-9230-303-7
Document Type: 
Working Paper

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