The 3rd Dubrovnik Economic Conference

Published: 8/6/1997
June 25 − 27, 1997
Dubrovnik, Croatia
"Balance of Payments, Exchange Rate and Competitiveness in Transition Economies"


  • Mr. Marko Škreb, Chairman, National Bank of Croatia
  • Mr. Pero Jurković, National Bank of Croatia
  • Mr. Robert A. Mundell, Columbia University
  • Mr. Mario I. Blejer, Hebrew University, International Monetary Fund


  • Mr. Marko Škreb, 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"

(participation by invitation only)

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.

by Mario I. Blejer and Marko Škreb
Publisher: Kluwer Academic Publishers, 1999


  • 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 Vujčić, National Bank of Croatia
  • Tomislav Presečan, 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