Making a financial sector levy work
Several countries in the EU have introduced, or are considering, a levy on the financial sector. There are some basic issues that need to be addressed urgently because, in Europe’s deeply integrated markets uncoordinated national measures are inefficient, can undermine …
Unwinding of Pre-Crisis Credit Booms Versus Recoveries
By Franziska Ohnsorge, Yevgeniya Korniyenko and Philipp Hochreiter
Private sector credit growth continues to be subdued in most of EBRD’s countries of operation (COOs), despite a gradual recovery of trade, industrial production and capital inflows in the second quarter of …
Should Governments Regulate Away FX lending?
By Jeromin Zettelmeyer and Piroska M. Nagy
“Financial dollarisation” – domestic borrowing and lending in foreign currency (FX), even when the borrower’s income is in domestic currency – is back on the policy agenda. Unlike the 1990s, the victims of …
Policy tightening at home and abroad weighs on short-term growth prospects, but should help Emerging Europe in the longer term
Authors: Franziska Ohnsorge, Piroska M Nagy, Peter Sanfey
We’ve just published our latest update on Emerging Europe and Central Asia’s economic outlook which indicates that the recovery in the transition economies is progressing with important exceptions, and highlights the key …
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