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The global economic crisis of 2008/2009 has had a broad impact far beyond economic concerns. Most importantly, it has been seen as a crisis of governance and debates have not just questioned specific regulations, e.g. of global financial markets, but have additionally challenged the appropriateness of underlying governance concepts not only in global markets, but also at the national level.
For the post-socialist countries, which adopted market-oriented governance mechanisms less than two decades ago, the global crisis was the first stress test after the post-socialist recovery. The contributions in this book focus on the impact of the crisis and related reform attempts in two important areas. The first area is financial and monetary policy, which is at the core of the global crisis of 2008/2009. The second area is relations between business and state actors, where corruption and weak institutional frameworks can both seriously hamper reform attempts.
The volume comprises essential contributions on how the post-socialist countries have tried to cope with the first global economical crisis they saw themselves confronted with.
List of Figures
List of Tables
Preface
Part I. Financial And Monetary Policy. Beyond Universal Models?
1. Baltic Variety of Capitalism as an Explanation of the Success of Internal Devaluation, by Vytautas Kuokštis
2. Economic Sovereignty and Development or Sound Money and Market Equilibrium? Confl icting Narratives in the Russian Monetary and Financial Policy During the Crisis, by Ewa D?browska
3. Institutional Determinants of Confi dence in National Currency and Monetary Policy Credibility. The Case of Ukraine, by Olena Danylenko
4. Studying Fiscal Policy Effects Using a Simple DSGE Model, by Alexandru Leonte
5. The Secret Behind the Last Financial Crisis. Why Were Some Countries Hit Worse than the Others?, by Vera Jotanovic
Part II. Banks, Finance And Public Interest. Cultural Dimensions
6. Neoliberalism and the Crisis of Indebtedness. The Problematization of Credit-Based Affl uence in Contemporary Romania, by Narcis Tulbure
7. Conceptual Framework of Sustainability of Islamic Financial Institutions amid Global financial and Economic Crisis, by Jakhongir Imamnazarov
PART III. Good And Bad Governance. Actors And Rules
8. Anti-Corruption Policies in Georgia. The Construction of an Image of Success, by Lili Di Puppo
9. Academic Corruption and Reform in Russia and Ukraine, by Eduard Klein
10. Interlocks Between Political and Business Elite Groups and Their Impact on the Income of Ukrainian Enterprises in 2007–2009, by Tetiana Kostiuchenko
11. Trends of Corporate Governance in Post-Socialist States, by Valeriya Zaozerna
About the Authors