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Outline

Converging European Transitions

2000, The World Economy

References (27)

  1. Moody's provides a top rating for the eurozone and then does not rank its members. Standard & Poor's reflects a residual fear of reversal about some of the countries, and assigns ratings of AA+ to Belgium, Finland, Ireland and Spain and AA to Italy and Portugal. Except for Greece (A-/A2), the non- eurozone countries are rated AA or better.
  2. Drabek and Brada (1998) caution that a premature PPERR has implied unstable trade policies in some of the applicants. Membership in CEFTA goes the other way but is may not have been enough of a stabiliser.
  3. Bartolini and Drazen (1997) stress the credibility effect of capital account liberalisation. Opposite positions on its desirability can be found in Dornbusch (1998) and Krugman (1998).
  4. This competition is also called a "beauty contest" in financial circles. Paul Krugman (1994, p. 149) popularised the "superstar model" of the labour market along the same lines. He explains the fact that a larger number of people can bid for the services of the perceived best by "the reach and span of control of top lawyers, business executives and so on extended by modern telecommunications". BIBLIOGRAPHY
  5. AUERBACH, A., L. KOTLIKOFF and W. LEIBFRITZ (eds.) (1999), Generational Accounting around the World, University of Chicago Press, Chicago.
  6. BARTOLINI, L. and A. DRAZEN (1997), "Capital Account Liberalization as a Signal", American Economic Review.
  7. BRANSON, W., J. BRAGA DE MACEDO and J. VON HAGEN (1998), "Macroeconomic Policy and Institutions in the Transition to EU Membership", NBER Working Papers No. 6653, July.
  8. CEPR (1996), Flexible Integration, Towards a More Effective and Democratic Europe, London.
  9. DORNBUSCH, R. (1998), Capital Controls: An Idea Whose Time has Gone, MIT, March.
  10. DORNBUSCH, R. and F. GIAVAZZI (1998), Hard Currency and Sound Credit: A Financial Agenda for Central Europe, MIT, May.
  11. DRABEK, Z. and J. BRADA (1998), "Exchange Rate Regimes and the Stability of Trade Policy in Transition Economies", unpublished, WTO, Geneva.
  12. EBRD (1997), Sound Business Standards and Corporate Practices: A Set of Guidelines, September.
  13. GLICK, R. and A. ROSE (1998), "Contagion and Trade: Why are Currency Crises Regional?", CEPR Discussion Paper No. 1947, August.
  14. KINDLEBERGER, C. (1962), Foreign Trade and the National Economy, Yale University Press, New Haven.
  15. KOLODKO, G. (1998), "Equity Issues in Policymaking in Transition Countries", Conference on Economic Policy and Equity, IMF, June.
  16. KOOPMANS, T. and M. MONTIAS (1971), "On the Description and Comparison of Economic Systems" in ECKSTEIN, A. (ed.), Comparison of Economic Systems, Theoretical and Methodological Approaches, University of California Press, Berkeley.
  17. KRUGMAN, P. (1994), Peddling Prosperity, Norton, New York.
  18. KRUGMAN, P. (1998), "Saving Asia: It's Time to Get Radical", Fortune, 7 September.
  19. LANKES, H.-P. and A.J. VENABLES (1996), "Foreign Direct Investment in Economic Transition: The Changing Pattern of Investments", Economics of Transition, Vol. 4(2), 331-347.
  20. MACEDO, J. BRAGA DE (1995), "Multiple Allegiances as Fate: The Portuguese Idea of Europe", presented at the conference on "What European Social Contract for the Year 2000?", Geneva, March.
  21. MACEDO, J. BRAGA DE (1997), "Introduction: Convergence and Divergence in Social Security Policies", in United Nations, Sustaining Social Security, New York.
  22. MACEDO, J. BRAGA DE, L. CATELA NUNES and F. COVAS (1999), "Moving the Escudo into the Euro", CEPR Discussion Paper No. 2248, October.
  23. OECD DEVELOPMENT CENTRE (2000), Fighting Corruption in Developing Countries and Emerging Economies, The Role of the Private Sector, OECD, Paris.
  24. REISEN, H. (2000), Pensions, Savings and Capital Flows, From Ageing to Emerging Markets, Elgar and OECD.
  25. SACHS, J. and A. WARNER (1995a) "Economic Convergence and Economic Policies", Working Paper No. 5039, National Bureau of Economic Research, September.
  26. SACHS, J. and A. WARNER (1995b), "Economic Reform and the Process of Global Integration", Brookings System on Economic Activity, 1.
  27. WORLD TRADE ORGANISATION (2000), Trade, Income Disparity and Poverty, Special Studies 5, by D. BEN DAVID, H. NORDSTROM and A. WINTERS, Geneva.