prikaz prve stranice dokumenta The financial furmoil in central and eastern Europe and fiscal policy in Croatia
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The financial furmoil in central and eastern Europe and fiscal policy in Croatia
Newsletter : an occasional publication of the Institute of Public Finance, 11 (2009), 40; 1-14. urn:nbn:hr:242:936187
Mihaljek, Dubravko

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Mihaljek, D. (2009). The financial furmoil in central and eastern Europe and fiscal policy in Croatia. Newsletter : an occasional publication of the Institute of Public Finance, 11. (40), 1-14. Retrieved from https://urn.nsk.hr/urn:nbn:hr:242:936187

Mihaljek, Dubravko. "The financial furmoil in central and eastern Europe and fiscal policy in Croatia." Newsletter : an occasional publication of the Institute of Public Finance, vol. 11, no. 40, 2009, pp. 1-14. https://urn.nsk.hr/urn:nbn:hr:242:936187

Mihaljek, Dubravko. "The financial furmoil in central and eastern Europe and fiscal policy in Croatia." Newsletter : an occasional publication of the Institute of Public Finance 11, no. 40 (2009): 1-14. https://urn.nsk.hr/urn:nbn:hr:242:936187

Mihaljek, D. (2009) 'The financial furmoil in central and eastern Europe and fiscal policy in Croatia', Newsletter : an occasional publication of the Institute of Public Finance, 11(40), pp. 1-14. Available at: https://urn.nsk.hr/urn:nbn:hr:242:936187 (Accessed 15 April 2024)

Mihaljek D. The financial furmoil in central and eastern Europe and fiscal policy in Croatia. Newsletter : an occasional publication of the Institute of Public Finance [Internet]. 2009 May 09 [cited 2024 April 15];11(40):1-14. Available at: https://urn.nsk.hr/urn:nbn:hr:242:936187

D. Mihaljek, "The financial furmoil in central and eastern Europe and fiscal policy in Croatia", Newsletter : an occasional publication of the Institute of Public Finance, vol. 11, no. 40, pp. 1-14, May 2009. [Online]. Available at: https://urn.nsk.hr/urn:nbn:hr:242:936187. [Accessed: 15 April 2024]

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Metadata
Title (english)The financial furmoil in central and eastern Europe and fiscal policy in Croatia
AuthorDubravko Mihaljek
Author's institutionInstitute of Public Finance
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Abstract (english)
Central and eastern Europe (CEE) is the emerging market region hardest hit by the spillovers of the financial crisis from the advanced economies so far. It has been affected so hard because it had financed its long expansion to a great extent by foreign borrowing, and many countries, including Croatia, had accumulated large external and internal imbalances in the process. As external sources of funding began to evaporate in the second half of 2008, it was only a question of time before private consumption and investment in the region would start to adjust. The adjustment accelerated in late 2008 and early 2009 as western European countries fell deeper into recession and sharply reduced their demand for imports from CEE. The public sector in many CEE countries largely ignored these events for several months, but eventually started to adjust as well. In particular, the public sector in Croatia postponed adjustment until the spring of 2008, unnecessarily bringing into question the maintenance of macroeconomic and financial stability. While some initial steps have been taken to remedy the situation, it remains to be seen how the revised budget for 2009 will be implemented and how the resulting deficit will be financed in a very difficult global financial environment.
Languageenglish
Publication typeOther - Popular paper
Publication statusPublished
Peer reviewPeer review
Publication versionPublished version
Journal titleNewsletter : an occasional publication of the Institute of Public Finance
Numberingvol. 11, no. 40, pp. 1-14
e-ISSN1333-4417
URN:NBNurn:nbn:hr:242:936187
Publication2009-05-09
Type of resourceText
Access conditionsOpen access
Terms of useLicence Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) icon
Created on2021-09-02 13:37:53