THE THIRD DUBROVNIK CONFERENCE ON TRANSITION ECONOMIES
"Balance of Payments, Exchange Rate and
Competitiveness in
Transition Economies"
Organized by National Bank of Croatia
Dubrovnik, June 25-27, 1997
Organizing Committee
List of Participants
About the Book
The Book: "Balance of Payments, Exchange Rate and
Competitiveness in
Transition Economies"
by Mario I. Blejer and Marko Skreb
Publisher: Kluwer Academic Publishers, 1999
About the Editors
SCIENTIFIC
COMMITTEE
Mr. Marko Skreb - Chairman
National Bank of Croatia
Mr. Pero Jurkovic
National Bank of Croatia
Mr. Robert A. Mundell
Columbia University
Mr. Mario I. Blejer
Hebrew University
&
International Monetary Fund
ORGANIZING COMMITTEE
Mr. Marko Skreb - Chairman
Governor
National Bank of Croatia
Ms. Lidija Pleadin - Secretary
Acting Chief of Staff
National Bank of Croatia
Mr. Mario Kastrapeli
Sales Manager
Travel Agency "Atlas"
LIST OF PARTICIPANTS
1. Mr.
Zoran
Anusic, Government of
Croatia, Zagreb, Croatia
2. Mr. Mate Babic, University of Zagreb, Zagreb, Croatia
3. Mr. Mario I. Blejer, International Monetary Fund, Washington,
USA
4. Mr. Velimir Bole, Economic Institut of Law Faculty, Ljubljana,
Slovenia
5. Mr. David M. Cheney,
International Monetary Fund, Washington,
USA
6. Mr. Warren Coats, International Monetary Fund, Washington,
USA
7. Mr. Fabrizio Coricelli, University of Siena, Siena, Italy
8. Mr. Robert A. Feldman, International Monetary Fund, Washington,
USA
9. Mr. Jacob A. Frenkel, Bank of Israel, Jerusalem, Israel
10. Mr. Clemens Grafe, London School of Economics, London, UK
11. Mr. Laszlo Halpern, Hungarian Academy of Sciences, Budapest,
Hungary
12. Mr. Oleh Havrylyshyn, International Monetary Fund, Washington, USA
13.
Mr. Arye L. Hillman, Bar
Illan University, Tel Aviv,
Israel
14. Mr. Andre Icard, BIS, Basle, Switzerland
15. Mr. Pero Jurkovic, Adviser of the President of Croatia, Zagreb, Croatia
16. Mr. Anton Kovacev, Croatian Bank for Reconstruction and
Development, Zagreb, Croatia
17. Mr. Evan Kraft, National Bank of Croatia, Zagreb, Croatia
18. Mr. Ricardo Lago, European Bank for Reconstruction and
Development, London, UK
19. Mr. Relja Martic, National Bank of Croatia, Zagreb, Croatia
20. Mr. Zlatko Matesa, Government of Croatia, Zagreb, Croatia
21. Mr. Ronald McKinnon, Stanford University, Stanford, USA
22. Mr. Robert A. Mundell, Columbia University, New York, USA
23. Ms. Piroska M. Nagy, International Monetary Fund, Washington, USA
24. Ms. Judith Nemenyi, National Bank of Hungary, Budapest, Hungary
25. Mr. Mario Nuti, London Business School, London, UK
26. Mr. Djuro Navro, Parliament of the Republic of Croatia, Zagreb, Croatia
27. Mr. Gary O'Callaghan, IMF Representative Office, Zagreb, Croatia
28. Mr. Gur Ofer, The Hebrew University, Jerusalem, Israel
29. Mr. Edmond Phelps, Columbia University, New York, USA
30. Ms. Lidija Pleadin, National Bank of Croatia, Zagreb, Croatia
31. Mr. Nenad Porges, Ministry of Economy, Zagreb, Croatia
32. Mr. Richard Portes, Center for Economic Policy Research, London, UK
33. Mr. Bozo Prka, Ministry of Finance, Zagreb, Croatia
34. Mr. Zdravko Rogic, National Bank of Croatia, Zagreb, Croatia
35. Mr. Nouriel Roubini, Leonard N. School of Business, New York, USA
36. Mr. Sandor Sipos, Central
and Southern Department, Washington, USA
37. Mr. John Odling - Smee, International Monetary Fund, Washington, USA
38. Mr. Mladen Stancic, Institute for International
Relations, Zagreb, Croatia
39. Mr. Pieter Stek, The World Bank, Washington, USA
40. Mr. Borislav Skegro, Government of Croatia, Zagreb, Croatia
41. Mr. Marko Skreb, National Bank of Croatia, Zagreb, Croatia
42. Mr. Velimir Sonje, National Bank of Croatia, Zagreb, Croatia
43. Mr. Vito Tanzi, International Monetary Fund, Washington, USA
44. Mr. Imre Tarafas, National Bank of Croatia, Zagreb, Croatia
45. Ms. Ruzica Vuger, National Bank of Croatia, Zagreb, Croatia
46. Mr. Boris Vujcic, National Bank of Croatia, Zagreb, Croatia
47. Mr. Paul Wachtel, Leonard N. School of Business, New York, USA
48. Mr. Charles Wyplosz, Graduate Institute of Int. Studies, Geneva, Switzerland
About the book
Integrating transition economies into the global commercial and trade market system is a prolonged and risky process. This book is a collection of studies dealing with the different issues related to the liberalization of external relations in economies moving from a socialist to a market-based system. The focus is on external sector developments, and the topics deal with balance of payments conditions, exchange rate policies and regimes, international competitiveness, international capital flows, foreign trade, and other matters related to the integration of transition economies into the world economy.
An understanding of the
principles involved and of the experiences of both transition and advanced
economies during this process is crucial to ensure its ultimate success.
Written by internationally-recognized scholars, the chapters cover these
issues in a systematic manner. The first section treats current account
developments: capital flows, and exchange rate policies in transition
countries: the second section deals with specific issues related to
international trade: and the final section consists of six specific country
experiences, including a chapter discussing the colllapse of the Russian ruble
in August 1998.
THE BOOK: "Balance of Payments, Exchange Rate and
Competitiveness in
Transition Economies"
by Mario I. Blejer and Marko Skreb
Contents:
I INTRODUCTION
1. Transition and the Open Economy: An Overview
Mario I. Blejer and Marko
Skreb
II EXCHANGE RATES POLICIES AND THE BALANCE OF PAYMENTS
2. Current
Account Sustainability in Transition Economies
Nouriel Roubini & Paul
Wachtel
3. Exchange
Rate Arrangements in the Transition Economies
Robert A.
Mundell
4. Toward
Virtual Exchange Rate Stability in Western and
Eastern Europe with the
Advent of EMU
Ronald I.
McKinnon
5. A
Model of Real Exchange Rate Determination in Transition Economies
Clemens Grafe & Charles
Wyplosz
6. Financing
the Transition to a Market Economy:
External Borrowing in the Baltic’s
and CIS Region
John Odling-Smee & Basil
Zavoico
7. Capital
Flows and the Stability of Financial Systems in Emerging Countries
Andre
Icard
III TRANSITION AND INTERNATIONAL TRADE
8.
Geographic
Diversification of Trade in Transition Economies
9. The
Fiscal Implications of Trade Liberalization in Transition Countries
Vito
Tanzi & Adrienne Cheasty & Kristina Kostial
10. What
is Special About Endogenous International Trade Policy in Transition
Economies?
Arye L. Hillman & Heinrich
Ursprung
IV SELECTED COUNTRY EXPERIENCES
11.
External
Deficit, Exchange Rate and Competitiveness in Croatia: Is there a problem?
12. Exchange
Rate Policy in the Czech Republic:
The Perils of Sticking to Fixed
Exchange Rates
Fabrizio
Coricelli
13. Trade,
Trade Policy and Foreign Exchange Regime Under Transition:
Russia and the
Dutch Disease
Gur Ofer & Vladimir
Drebentsov
14. Balance
of Payments, Exchange Rates and Competitiveness:
Lessons for Transition Economies from the Israeli Experience
Jacob A.
Frenkel
15. Balance
of Payments, Exchange Rates and Competitiveness in Hungary
Laszlo Halpern & Judit
Nemenyi
16. Current
Account Surplus and Falling Competitiveness in Slovenia
Velimir
Bole
Contributors
Nouriel Roubini, Leonard
N. School of Business
Paul Wachtel, Leonard N. School of
Business
Robert A. Mundell, Columbia
University
Ronald McKinnon, Stanford
University
Clemens Grafe,
London School of Economics
Charles Wyplosz, Graduate Institute of Int.
Studies
John Odling - Smee, International Monetary
Fund
Andre Icard, Bank
for International Settlements
Oleh Havrylyshyn, International Monetary
Fund
Vito Tanzi, International Monetary
Fund
Arye L. Hillman, Bar
Illan University
Henrich W. Ursprung, University of Konstanz
Boris Vujcic, National Bank of
Croatia
Tomislav Presecan, National Bank of Croatia
Fabrizio Coricelli,
University of Siena
Gur Ofer, The Hebrew University
Jacob A. Frenkel, Bank of
Israel
Laszlo Halpern,
Hungarian Academy of Sciences
Judith Nemenyi, National Bank of
Hungary
Velimir Bole, Economic Institut of Law
Faculty
