Ismael Ahmad Fontán, Thorsten Beck, Katia D'Hulster, Pamela Lintner, Filiz Unsal, 20 May 2019

The banking systems in Central, Eastern, and South Eastern Europe are dominated by subsidiaries of multinational banks, many with parent banks from the EU. This column analyses the effects of regulatory and supervisory changes within the EU and euro area on host regulation and supervision in these countries and on their cooperation with home supervisors and resolution authorities in Western Europe. It also offers some recommendations for authorities both at the EU level and in the small host countries.

Pamela Campa, Michel Serafinelli, 22 June 2018

Attitudes towards work and gender simultaneously shape, and are shaped by, the conventions, practices, and policies in a given place and time. This column explores how politico-economic regimes affect attitudes towards gender roles and labour, exploiting the rise and fall of the Iron Curtain. Results show that women in state-socialist regimes tended to have less negative and less traditional views of work and labour force participation.

Jan Hanousek, Anna Kochanova, 04 May 2015

The evidence about the effect of bribery on economic growth is mixed. Some find it harmful while others believe it helps via a ‘grease the wheels’ effect. This column argues that the ambiguity can be explained by divergent effects of the mean and dispersion of corruption. A high bribery-mean retards productivity growth of firms, but a high bribery-dispersion facilitates performance of weak firms.

Raphael Auer, Andreas Fischer, 05 December 2010

Over the past two decades, Western European trade has become increasingly integrated with emerging economies. This column uses a novel empirical technique to show that import competition from East Asian low-wage countries – in particular China – has dampened inflation in five Western European nations. Increased integration with Turkey and Central and Eastern Europe, meanwhile, has had little effect on inflation.

Ajai Chopra, Bas Bakker, 16 November 2010

The crisis in Europe is more commonly used to refer to debt crises in southern Europe than elsewhere. This column focuses on central and eastern Europe, arguing that while the crisis there was triggered by external shocks, it is clear that domestic imbalances and policies also played a key role.

Zsolt Darvas, 23 February 2010

The EU has used various means to support the crisis-hit countries of Central and Eastern Europe. This column argues that EU action has been an expression of solidarity in recognition of the EU's responsibility to the region. But EU institutions and governments have also contributed to the suffering of Central and Eastern European in the crisis by some actions – or through failures to act.

Raphael Auer, Simon Wehrmüller, 20 April 2009

Western bank exposures in Eastern Europe are an issue that is increasingly in policymakers’ sights. This column estimates the losses arising to the non-bank sector and government from foreign currency-denominated debt in Central and Eastern Europe. It also estimates the effect that these losses have had on the market-implied assessment of sovereign default risk. Both losses are reflected in wider CDS spreads, but government losses have a bigger impact.

Willem Buiter, 20 February 2009

It looks like capital controls for central and eastern European countries as well as emerging markets everywhere. This column argues that imposing capital outflow controls – while sometimes unavoidable – discourages future capital inflows and creates rents. This is why they should be explicitly made temporary.

Raphael Auer, Martin Brown, Andreas Fischer, Marcel Peter, 29 January 2009

Some policymakers are worried that Central and Eastern European firms and households that recently joined the carry trade are unprepared for the financial crisis’s macroeconomic shocks. This column presents micro-level evidence that the currency exposure is concentrated in households and firms that are better equipped to bear the risks, suggesting that aggregate risks may be smaller than feared.

Events

  • 17 - 18 August 2019 / Peking University, Beijing / Chinese University of Hong Kong – Tsinghua University Joint Research Center for Chinese Economy, the Institute for Emerging Market Studies at Hong Kong University of Science and Technology, the Guanghua School of Management at Peking University, the Stanford Center on Global Poverty and Development at Stanford University, the School of Economics and Management at Tsinghua University, BREAD, NBER and CEPR
  • 19 - 20 August 2019 / Vienna, Palais Coburg / WU Research Institute for Capital Markets (ISK)
  • 29 - 30 August 2019 / Galatina, Italy /
  • 4 - 5 September 2019 / Roma Eventi, Congress Center, Pontificia Università Gregoriana Piazza della Pilotta, 4, Rome, Italy / European Center of Sustainable Development , CIT University
  • 9 - 14 September 2019 / Guildford, Surrey, UK / The University of Surrey

CEPR Policy Research