Exchange Rate Regime and External Adjustment in CEE Countries
The paper reviews effects of exchange rate regime's choice for adjustments processes in current accounts (CA) in the Central and Eastern Europe countries between 2008-2012. During the period of global financial crisis, Poland may be treated as a handbook example of the reaction of floating exch...
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| Format: | Article |
| Language: | English |
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Sciendo
2015-04-01
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| Series: | Journal of Economics and Management |
| Subjects: | |
| Online Access: | https://www.ue.katowice.pl/fileadmin/user_upload/wydawnictwo/JEM_Artyku%C5%82y_1_30/JEM_20/03.pdf |
| _version_ | 1819046759107657728 |
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| author | Jacek Pietrucha |
| author_facet | Jacek Pietrucha |
| author_sort | Jacek Pietrucha |
| collection | DOAJ |
| description | The paper reviews effects of exchange rate regime's choice for adjustments processes in current accounts (CA) in the Central and Eastern Europe countries between 2008-2012. During the period of global financial crisis, Poland may be treated as a handbook example of the reaction of floating exchange rate to shock and adjustments in the form of expenditure switching. However, the Polish experience is not typical among the Central and Eastern Europe countries. There is no evidence for the positive role of floating exchange rate in macroeconomic adjustments after the crisis in Central and Eastern Europe countries which belong to EU. The adjustments in the countries with fixed regimes were fast and deep. The real exchange rate decreased and export, CA and goods and services balance improved, development distance against EU countries was reduced. However, the experience of Baltic countries, which have internal devaluation, should be very carefully conveyed to other countries. |
| first_indexed | 2024-12-21T10:49:34Z |
| format | Article |
| id | doaj.art-c2dabaa4a58944ec99ad82e1af0a7bd5 |
| institution | Directory Open Access Journal |
| issn | 1732-1948 |
| language | English |
| last_indexed | 2024-12-21T10:49:34Z |
| publishDate | 2015-04-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Journal of Economics and Management |
| spelling | doaj.art-c2dabaa4a58944ec99ad82e1af0a7bd52022-12-21T19:06:42ZengSciendoJournal of Economics and Management1732-19482015-04-01203852Exchange Rate Regime and External Adjustment in CEE CountriesJacek Pietrucha0Uniwersytet Ekonomiczny w KatowicachThe paper reviews effects of exchange rate regime's choice for adjustments processes in current accounts (CA) in the Central and Eastern Europe countries between 2008-2012. During the period of global financial crisis, Poland may be treated as a handbook example of the reaction of floating exchange rate to shock and adjustments in the form of expenditure switching. However, the Polish experience is not typical among the Central and Eastern Europe countries. There is no evidence for the positive role of floating exchange rate in macroeconomic adjustments after the crisis in Central and Eastern Europe countries which belong to EU. The adjustments in the countries with fixed regimes were fast and deep. The real exchange rate decreased and export, CA and goods and services balance improved, development distance against EU countries was reduced. However, the experience of Baltic countries, which have internal devaluation, should be very carefully conveyed to other countries.https://www.ue.katowice.pl/fileadmin/user_upload/wydawnictwo/JEM_Artyku%C5%82y_1_30/JEM_20/03.pdfCurrent accountExchange ratesBalance of payments |
| spellingShingle | Jacek Pietrucha Exchange Rate Regime and External Adjustment in CEE Countries Journal of Economics and Management Current account Exchange rates Balance of payments |
| title | Exchange Rate Regime and External Adjustment in CEE Countries |
| title_full | Exchange Rate Regime and External Adjustment in CEE Countries |
| title_fullStr | Exchange Rate Regime and External Adjustment in CEE Countries |
| title_full_unstemmed | Exchange Rate Regime and External Adjustment in CEE Countries |
| title_short | Exchange Rate Regime and External Adjustment in CEE Countries |
| title_sort | exchange rate regime and external adjustment in cee countries |
| topic | Current account Exchange rates Balance of payments |
| url | https://www.ue.katowice.pl/fileadmin/user_upload/wydawnictwo/JEM_Artyku%C5%82y_1_30/JEM_20/03.pdf |
| work_keys_str_mv | AT jacekpietrucha exchangerateregimeandexternaladjustmentinceecountries |