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Insights

 
Tuesday, 14 April 2009 00:00
by EPOS
EPOS Insights
The differences between Eastern European countries facing the global crisis are as important as the similarities and they mostly regard the ‘initial conditions’, that is, the situation in each country before the crisis unfolded. Some of these so-called ‘initial conditions’ concern the different relative openness in terms of trade and FDIs of the economic systems, domestic and external imbalances, external debt sustainability, the degree of financial deepening, the role of the banking sector and domestic credit compared with GDP expenditure structure and, last but not least, the progress in the transition process.
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