How Latvia Came Through the Financial CrisisPeterson Institute, 2011 - 140 lappuses Latvia stands out as the East European country hardest hit by the global financial crisis; it lost approximately 25 percent of its GDP between 2008 and 2010. It was also the most overheated economy before the crisis. But in the second half of 2010, Latvia returned to economic growth. How did this happen so quickly? Current Latvian Prime Minister Valdis Dombrovskis, who shepherded Latvia through the crisis, and renowned author Anders Åslund discuss why the Latvian economy became so overheated; why an IMF and European Union stabilization program was needed; what the Latvian government did to resolve the financial crisis and why it made these choices; and what the outcome has been. This book offers a rare insider's look at how a national government responded to a global financial crisis, made tough choices, and led the country back to economic growth. |
Saturs
Introduction | 1 |
Ch 1 Latvias PostSoviet Transition | 5 |
Ch 2 The Boom 200407 | 17 |
Ch 3 Policy Choices and the Program of Crisis Resolution 2008 | 33 |
Ch 4 To Devalue or Not to Devalue | 51 |
Ch 5 Implementation of the Stabilization Program 2009 | 65 |
Ch 6 The Healing Begins 2010 | 95 |
Ch 7 Latvias Lessons for Itselfand the World | 113 |
Leading Latvian Officials | 125 |
Chronology of Events | 127 |
133 | |
Bieži izmantoti vārdi un frāzes
20 percent accessed on December accessed on November adopt the euro Anders Åslund Argentina austerity Baltic countries Bank of Latvia billion boom budget deficit Cabinet of Ministers crisis resolution currency board current account deficit cuts DELFI disbursements early economists Einars Repše Estonia euro area European Commission European Union exports February figure fiscal adjustment fixed exchange rate Greens and Farmers Harmony Center inflation internal devaluation International Monetary Fund investment Ivars Godmanis January July June lats Latvian government LETA liquidity loan March ment October Parex Bank parliament parliamentary elections pensions People's Party percent of GDP Peterson Institute political prime minister public expenditures quarter of 2010 Republic of Latvia Riga Rimšēvičs Russian Saeima sector September Šķēle Slakteris social stabilization program Stand-By Arrangement structural reforms Swedish banks three Baltic tion Union of Greens Valdis Dombrovskis wages World Bank www.delfi.lv www.imf.org www.mk.gov.lv accessed Zatlers