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Autor:innen: 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
Economics Discussion Papers No. 2012-65
Verlag: 
Kiel Institute for the World Economy (IfW), Kiel
Zusammenfassung: 
This paper discusses the underpinnings of the financial crisis of the last decade. It explores the endogenous reasons of this crisis, and in particular a possible link between delayed and unequal growth of household incomes in post-transition countries on one hand and the instability of their growth and depth of recession after the financial crisis on the other. It indicates possible microeconomic factors under-pinning rapidly growing indebtedness of households, enabling faster consumption growth, but subject to fluctuations. It claims also that artificially boosted growth of consumption and a favourable proportion between wages and profits could attract investment (also FDI), possibly searching for short-term gains. It underlines that the inflow of financial funds contributed to, but did not cause instability growth in this region.
Schlagwörter: 
Welfare
labour market
post-transition economies
stability
JEL: 
I38
J48
P51
Creative-Commons-Lizenz: 
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Dokumentart: 
Working Paper

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