How emerging Europe came through the 2008/09 crisis : an account by the staff of the IMF's European Department / editors, Bas B. Bakker and Christoph Klingen.

Includes bibliographical references and index.

Part I. Prelude to the crisis. The boom years, 1995-2007 -- Part II. The crisis : regional perspectives. Gathering clouds : August 2007-September 2008 -- The collapse of Lehman and its aftermath -- From stabilization to recovery -- How meltdown was avoided -- Part III. Country experience in countries with IMF arrangements. Hungary : placing the first call to the IMF from emerging Europe -- Ukraine : weathering the perfect storm : challenges and opportunities -- Latvia : the domino that did not fall -- Belarus : a tale of missed opportunities -- Serbia : facing challenges beyond crisis management -- Romania : reanchoring growth in more solid ground -- Poland : a beacon of resilience in Europe -- Bosnia and Herzegovina : containing the fallout with international assistance -- Moldova : rebounding on improved policies -- Kosovo : watching the global crisis from the sidelines -- Part IV. Country experience in other countries. Russia : rising and falling with the price of oil -- Turkey : managing a forceful rebound -- Estonia : making a run for the euro -- Lithuania : earning market confidence -- Bulgaria : surviving the crisis on its own -- Croatia : averting financial crisis but struggling to become competitive -- Albania : building resilience just in time -- Former Yugoslav Republic of Macedonia : weathering the storm rather well -- Montenegro : riding the capital flow roller coaster -- Part V. Toward renewed and sustainable growth : a policy agenda. Lessons and renewed challenges.

"Emerging Europe was particularly hard hit by the global financial crisis, but a concerted effort by local policymakers and the international community staved off impending financial meltdown and laid the foundations for renewed convergence with western Europe. This book, written by staff of the IMF's European Department that worked on the region at the time, provides a unique account of events: the origins of the crisis and the precrisis policy setting; the crisis trigger and the scramble to avoid the worst; the stabilization and recovery; the remaining challenges; and the lessons for the future. Five regional chapters provide the analytics to put events into perspective. Dedicated chapters for all 19 countries of the region dig deeper into the idiosyncrasies of each economy and provide extensive economic data. A final chapter distills the lessons from the overall regional experience and the wide intraregional diversity. Taken together, they make this book an indispensible reference for economic scholars of the region and beyond."--Publisher's website.

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