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OverviewThis book analyzes the banking crisis and the events surrounding it in Hungary and other emerging EU member countries in 2007-2013. Written by Júlia Király, a former policymaker, and the Deputy Governor of the Hungarian Central Bank at the time of the crisis, it also offers a firsthand account of the processes in and responses to the financial crisis. While there is extensive literature on the crisis, most of it focuses on the US or the Eurozone, sometimes mentioning the “emerging world” in passing. However, Central and Eastern Europe experienced the crisis very differently than other emerging countries. In the pre-crisis years, the region in accession to the EU attracted abundant fresh capital, but the seemingly unconstrained global liquidity fuelled credit bubbles. After the Lehman crisis, capital rapidly fled these countries. In this part of the world, the recession proved to be much worse than elsewhere, with double-digit growth soon turning into a double-digitdecline in GDP. Several countries had to turn to the IMF and the EU for stand-by credit. Based on her own inside experience as a top central banker, the author offers a personal yet professional analysis of the causes and consequences of the financial hurricane. Full Product DetailsAuthor: Júlia KirályPublisher: Springer Nature Switzerland AG Imprint: Springer Nature Switzerland AG Edition: 1st ed. 2020 Volume: 49 Weight: 0.267kg ISBN: 9783030495466ISBN 10: 3030495469 Pages: 145 Publication Date: 19 August 2021 Audience: Professional and scholarly , Professional & Vocational Format: Paperback Publisher's Status: Active Availability: Manufactured on demand  We will order this item for you from a manufactured on demand supplier. Language: English Table of ContentsA Short Post-communist Economic History of Emerging Europe.- Pre-crisis Central Banking.- Bubbles Everywhere (the 2000s)Under the Clouds of the Subprime Crisis (July 2007 – September 2008)The Lehman Tsunami (September – October 2008).- The “Rescue Team” and Rescue Package (October – December 2008)Emerging EU Member Countries in the Storm (Spring 2009)Recovery from the Deep Recession (March 2009 – April 2010)Eurozone Crisis in Europe and a Bold U-Turn in Hungary (May – December 2010)Hungarian Double Dip (2011-2012)Farewell to the Central Bank (2013)Lessons and Aftermath..ReviewsAuthor InformationJúlia Király is an associate professor of finance and monetary economics at the International Business School (IBS) Budapest, Hungary. Since 2013 she has been an independent board member of the KBC Group and the KBC Bank Belgium. During the crisis years she was the Deputy Governor and a member of the Monetary Council of the Central Bank of Hungary, responsible for financial stability. She has published widely on monetary policy, banking and finance. Tab Content 6Author Website:Countries AvailableAll regions |
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