Titlebook: Hungary and Other Emerging EU Countries in the Financial Storm; From Minor Turbulenc Júlia Király Book 2020 The Editor(s) (if applicable) a

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0921-8580 y decisions.Presents a framework of indicators to predict fu.This 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

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Lessons and Aftermath,012. More than ten years have passed since the eruption of the global financial and economic crisis. Thus, while summarizing the lessons, we can investigate whether recent developments, the COVID-pandemic related economic crisis, and its management justify or contradict the lessons learned.

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A Short Postcommunist Economic History of Emerging Europe,n European (CEE) countries since the transition of 1990 and details the precrisis political and economic environment in Hungary, with special regard for the fiscal alcoholism and the crisis of the socialist government 2002–2010.

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Bubbles Everywhere (The 2000s), the accelerating capital inflow boosted not only local lending but consumption and investment as well. Households, SMEs and local authorities had no natural hedge. This chapter analyses the causes and the potential threats of these bubbles.

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,Recovery from the Deep Recession (March 2009–April 2010), was diminishing, export was strong, contributing to a positive balance of payments. Though the exchange rate was 10% weaker than before the crisis, the nonperforming ratio of foreign exchange denominated mortgage loans was still much below 10%.

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出汗

,Under the Clouds of the Subprime Crisis (July 2007–September 2008),cial contagion process of 2007–2008 in emerging EU member states and offers a detailed analysis of the positive features and the vulnerabilities of these economies. Day to day dilemmas of the Hungarian Central Bank illustrate the difficulties of policy makers.

闪光东本

,The Lehman Tsunami (September–October 2008),swing it out. However, on September 15, the Lehman had collapsed, and the Gömböc-economy swung out of its unstable equilibrium to roll over a terrible crisis period in the search for the stable equilibrium. Hungary was seriously hit by the Lehman-collapse and faced a serious liquidity crisis.

王得到

,The “Rescue Team” and Rescue Package (October–December 2008),o individual banks, when needed. Even The Economist admitted: “The Hungarian Central Bank is impressively well-run.” These measures were well supported by the stand-by loan agreement with the IMF and the EU. Hungary was the first, but not the last on this road.

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