Financial Turbulence and Capital Markets in Transition Countries

HARALD BATTERMANN University of Paderborn UDO BROLL University of Saarland CLAUDIA BUCH Institute of World Economics, Kiel BERNHARD ECKWERT Technische Universitat Chemnitz STEPHEN F. FROWEN University College, London HUBERT GABRISCH Institut fur Wirtschaftsforschung Halle KLAUS-DIETER JOHN Technische Universitat Chemnitz ALEXANDER KARMANN Technische Universitat Dresden THOMAS LINNE Halle Institute for Economic Research ROMAN MATOUSEK Czech National Bank LUCJAN ORLOWSKI Sacred Heart University, Fairfield ZBIGNIEW POLANSKI Narodowy Bank Polski, Warsaw BRUNO SCHA-NFELDER TU Bergakademie Freiberg VLADISLAV SEMENKOV Academy of Sciences, Moscow JOHANNES STEPHAN Institut fur Wirtschaftsforschung Halle ANITA TACI Czech National Bank FRIEDRICH THIESEN Technische Universitat Chemnitz HORST TOMANN Freie Universtat Berlin ADAM TA-RA-K Hungarian Academy of Sciences, Budapest FRANTISEK TURNOVEC CERGE EI, Prague UWE VOLLMER Universitat Leipzig ADALBERT WINCKLER IPC and Universitat Wurzburg

Contributors to this volume include Claudia Buch, Stephen F, Frowen, Jens Hölscher, Alexander Karmann, Jens Linne, Roman Matousek, Zbigniew Polanski, Bruno Schönfelder, Vladislav Semenkov, Johannes Stephan, Adam Török, Horst Tomann, Trantisek Turnovec and Uwe Vollmer.Global financial turbulence severely affected countries in transition from planned towards market economies. Policy responses of Russia, Poland, the Czech Republic and Hungary are reviewed and compared in this book. Each country analysis is critically discussed. Contributors to this volume include Claudia Buch, Stephen F, Frowen, Jens Hölscher, Alexander Karmann, Jens Linne, Roman Matousek, Zbigniew Polanski, Bruno Schönfelder, Vladislav Semenkov, Johannes Stephan, Adam Török, Horst Tomann, Trantisek Turnovec and Uwe Vollmer.