   .     
 


      20082020.   .      ,        ,         .    ,           .       ,      .     ,              ,   ,     .                  .     ,     ,    ,       .





 

   .     



Anders ?slund

The Last shall be the first

The East European Financial Crisis



 2010 by the Peter G. Peterson Institute for International Economics

 , 2011



* * *






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      Visa, MasterCard, Maestro,    ,   ,     ,  PayPal, WebMoney, ., QIWI ,       .



notes








1


Pigs (.) . . .




2


Morris Goldstein, Emerging-Market Financial Crises: Lessons and Prospects (speech, 2007 Annual Meeting, Institute of International Finance, Washington, October 20, 2007); Susan Schadler, Are Large External Imbalances in Central Europe Sustainable? in Challenges of Globalization: Imbalances and Growth, eds. Anders Aslund and Marek Dabrowski (Washington: Peterson Institute for International Economics, 2008).




3


Marek Dabrowski, Rethinking Balance of Payments Constraints in a Globalized World in Challenges of Globalization: Imbalances and Growth, eds. Anders Aslund and Marek Dabrowski (Washington: Peterson Institute for International Economics, 2008), 73.




4


Robert J. Barro and Xavier Sala-i-Martin, Economic Growth (Cambridge, MA: MIT Press, 2004).




5


Leszek Balcerowicz and Stanley Fischer, eds., Living Standards and the Wealth of Nations: Successes and Failures in Real Convergence (Cambridge, MA: MIT Press, 2006).




6


     2004.,   ,     .




7


 15   , , , , , , , , , , , , ,   .




8


Lars Oxelheim, International Financial Integration (Heidelberg: Springer Verlag Berlin, 1990).




9


Anders ?slund, Why Latvia Should Not Devalue, Realtime Economic Issues Watch, Peterson Institute for International Economics, December 9, 2008, www.piie.com.




10


      ,          ,     ,     ,    .




11


            , ,   .




12


Article 140, Treaty on the Functioning of the European Union, Official journal of the European Union, Information and Nonces  115, volume 51, May 9, 2008, available at http://eur-lex.europa.eu; Michael Marrese, The Convergence of CEEMEA Countries as the Global Recession Ends (New York: JP Morgan, July 29, 2009).




13


Marrese, The Convergence of CEEMEA Countries; European Unipn, Acceding Countries and ERM-II, EFC/ECFIN/109/03 (Athens, April 5,2003).


