Central and East European Countries: Prone to currency crisis?

Josef Pöschl
Authors registered in the RePEc Author Service: Josef Poeschl

No FS II 98-601, Discussion Papers, Research Group Transformation and Globalization from WZB Berlin Social Science Center

Abstract: Central and East European Countries (CEECs) have liberalised foreign trade almost completely and capital flows quite extensively. All have balance of trade deficits. Experts are worried because in some the current account deficit is high and still rising. Current account deficits could be an indicator of domestic companies’ low competitiveness. However, also the contrary could be the case: The country’s more dynamic industries may try to increase their position vis-à-vis foreign competitors through massive import of advanced technology, in this way enlarging the trade deficit.

Date: 1998
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