Currency convertibility, policy credibility and capital flight in Poland and the Czech and Slovak Federal Republic
Research output: Chapter in Book/Report/Conference proceeding › Chapter
Colleges, School and Institutes
This chapter considers some aspects of exchange rate policy for formerly centrally planned economies during their transition to “market economies.” In particular, the relationship between (currency) convertibility, capital outflows (flight) and policy credibility is examined. These factors are mutually related, and their interaction is highlighted by focusing on the experiences of Poland and the (ex) Czech and Slovak Federal Republic. 1 These countries are in the vanguard of emerging market economies and their experience provides a basis for policy recommendations for emerging market economies at an earlier stage in their transitions. The analysis also allows for discussion of the speed at which the emerging market economies could move to a fully convertible currency.
|Title of host publication||Capital Controls in Emerging Economies|
|Editors||Christine P Ries|
|Publication status||Published - 23 Feb 2018|