Authors:
- Examines an understudied field in the financial crisis literature: Hungary and Central Eastern Europe
- Provides firsthand background on policy decisions
- Presents a framework of indicators to predict future crises
Part of the book series: Financial and Monetary Policy Studies (FMPS, volume 49)
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Table of contents (12 chapters)
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Front Matter
About this book
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 time of the crisis, it also offers a firsthand account of the processes in and responses to the financial crisis.
While there is extensive literature on the crisis, most of it focuses on the US or the Eurozone, sometimes mentioning the “emerging world” in passing. However, Central and Eastern Europe experienced the crisis very differently than other emerging countries. In the pre-crisis years, the region in accession to the EU attracted abundant fresh capital, but the seemingly unconstrained global liquidity fuelled credit bubbles. After the Lehman crisis, capital rapidly fled these countries. In this part of the world, the recession proved to be much worse than elsewhere, with double-digit growth soon turning into a double-digitdecline in GDP. Several countries had to turn to the IMF and the EU for stand-by credit. Based on her own inside experience as a top central banker, the author offers a personal yet professional analysis of the causes and consequences of the financial hurricane.
Authors and Affiliations
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International Business School, Budapest, Hungary
Júlia Király
About the author
Júlia Király is an associate professor of finance and monetary economics at the International Business School (IBS) Budapest, Hungary. Since 2013 she has been an independent board member of the KBC Group and the KBC Bank Belgium. During the crisis years she was the Deputy Governor and a member of the Monetary Council of the Central Bank of Hungary, responsible for financial stability. She has published widely on monetary policy, banking and finance.
Bibliographic Information
Book Title: Hungary and Other Emerging EU Countries in the Financial Storm
Book Subtitle: From Minor Turbulences to a Global Hurricane
Authors: Júlia Király
Series Title: Financial and Monetary Policy Studies
DOI: https://doi.org/10.1007/978-3-030-49544-2
Publisher: Springer Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2020
Hardcover ISBN: 978-3-030-49543-5Published: 19 August 2020
Softcover ISBN: 978-3-030-49546-6Published: 19 August 2021
eBook ISBN: 978-3-030-49544-2Published: 18 August 2020
Series ISSN: 0921-8580
Series E-ISSN: 2197-1889
Edition Number: 1
Number of Pages: XXI, 145
Number of Illustrations: 19 b/w illustrations
Topics: Macroeconomics/Monetary Economics//Financial Economics, Financial Crises, Banking, European Economics