Dollarization, Euroization and Financial Instability

IPE Vienna has published the book Dollarization, Euroization and Financial Instability. Central and Eastern European Countries between Stagnation and Financial Crisis?

IPE - Nov. 22, 2007

IPE Vienna has published a book that grew out of a series of seminars. These seminars were part of IPE's major activity in 2006 and 2007, the intercontinental research and education project "New Instruments and New Musicians in the Globalization Scenario". Promoting and Strengthening New Actors and New Perspectives on Civil Society Facing Globalization.

Those Central and Eastern European (CEE) states, that have joined the European Union (EU) in 2004, are on the verge of entering the European Economic and Monetary Union (EMU), and, by doing so, of adopting the Euro as a currency. Slovenia is an exception in many ways, and has already become a member of EMU in 2007. But is this a logical, necessary, or not avoidable next step towards deeper integration for the other new members of 2004 as well? Will the people in the CEE-member states benefit from this development?

This book focuses on the Czech Republic, Hungary, Poland, and Slovakia, countries that appear to be caught between the faltering economic effects of the Maastricht Treaty, and the possibilities of a financial crisis: EMU appears as safe haven against currency speculation but with the adoption of the strict rules of the Maastricht Treaty, states and governments abandon and cede measures to intervene into economic policy.

To understand better the current situation of CEE countries, authors of this book draw on the experiences of other countries. Can a financial crisis as in Latin America of the 1990s occur in Central and Eastern Europe as well? Will the Dollarization of the Latin American experience be followed by a Euroization in Europe? What are the similarities and what the differences of the experiences?

Details on content (pdf).

Joachim Becker and Rudy Weissenbacher (eds.): Dollarization, Euroization and Financial Instability. Central and Eastern European Countries between Stagnation and Financial Crisis? Marburg: Metropolis, 2007. 280 pages. 26,80 Euro. ISBN 978-3-89518-630-1.

Dollarization, Euroization and Financial Instability

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