Palgrave Dictionary of Emerging Markets and Transition Economics
The period of transition from socialism to capitalism in parts of Europe and Asia over the past 25 years has attracted considerable interest in academia and beyond. From the Editors of Palgrave's iconic series 'Studies in Economic Transition' comes the Pa
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Palgrave Dictionary of Emerging Markets and Transition Economics
Edited by
Jens Hölscher Professor of Economics and Head of Department, Bournemouth University, UK and
Horst Tomann Jean Monnet Professor for European Economic Policy, Freie University Berlin, Germany
Selection and editorial matter © Jens Hölscher and Horst Tomann 2015 Chapters © Contributors 2015 Softcover reprint of the hardcover 1st edition 2015 978-1-137-37137-9 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6–10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The authors have asserted their rights to be identified as the authors of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2015 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and other countries. ISBN 978-1-349-56833-8 ISBN 978-1-137-37138-6 (eBook) DOI 10.1007/978-1-137-37138-6 This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. Logging, pulping and manufacturing processes are expected to conform to the environmental regulations of the country of origin. A catalogue record for this book is available from the British Library. Library of Congress Cataloging-in-Publication Data Palgrave dictionary of emerging markets and transition economics / edited by Jens Hölscher, Horst Tomann. pages cm 1. Macroeconomics – Dictionaries. 2. Economic history – Dictionaries. I. Hölscher, Jens, editor. II. Tomann, Horst, editor. HB172.5.P35 2015 330.03—dc23
2015018577
Contents
List of Boxes
viii
List of Figures
ix
List of Tables
xi
Notes on Contributors Introduction Part I 1
xiii 1
Monetary Aspects
Central Bank Independence in Transition Economies
5
JANE BOGOEV AND GORAN PETREVSKI
2
Currency Reforms in Emerging-Market and Transition Economies
28
KARSTEN STAEHR
3
Financial Sector Restructuring in Transition and Emerging Market Economies
39
ANDY MULLINEUX
4
The Choice of Exchange Rate Regime in Emerging-Market and Transition Economies
60
KARSTEN STAEHR
5
Monetary Stabilization
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