Capital and Credit-based Development: Lessons from the Experience of Industrial Countries for Transition Economies in Central East Europe

  • Stephan Herten
  • Jens Hölscher
  • Matthias Moersch
Part of the Anglo-German Foundation for the Study of Industrial Society book series (AGF)

Abstract

The hypothesis of this chapter is that a strategy in favour of financial liberalisation in the emerging market economies of Central East Europe will lead to Anglo-Saxon types of financial sectors, including the implantation of chronic short termism and vulnerability to speculative attacks. For economic policy we argue therefore in favour of a careful rehabilitation approach following the postwar West German example (see Grünbacher and Hölscher 1997).

Keywords

Europe Income Nism Volatility Librium 

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Copyright information

© Palgrave Macmillan, a division of Macmillan Publishers Limited 2001

Authors and Affiliations

  • Stephan Herten
  • Jens Hölscher
  • Matthias Moersch

There are no affiliations available

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