Regional Economic Outlook: Europe -- Fostering Sustainability, May 2010 -- Table of Contents
Europe, May 11, 2010
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- Regional Economic Outlook: Europe -- Fostering Sustainability, May 2010 -- Table of Contents
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Bibliographic details
- Published: May 11, 2010
- Series: Europe
Executive summary and press points
- A weak and uneven recovery is underway in Europe.
- Macroeconomic policies still support the upswing and extraordinary measures are underway to address the sovereign crisis.
- Policymakers face the balancing act between continuing support for the economy and establishing a credible path to policy normalization.
- Priorities:
- Large medium-term fiscal consolidations.
- In the financial area, a shift from systemic support to interventions in individual financial institutions.
- Address structural weaknesses: revamping financial sector regulation and supervision; improvements in the functioning of products and labor markets; filling gaps in the euro area’s fiscal governance.
- For emerging Europe, key conditions to restart income convergence:
- Policies that facilitate a reorientation of the sources of growth toward the export sector.
- Policies that attract healthy capital inflows.
Publication and distribution notes
- Europe: Press Release: IMF Says Moderate and Uneven Recovery Taking Shape Across Europe — May 11, 2010.
- Regional Economic Outlook: Europe — May 2010.
- World Economic Outlook: Rebalancing Growth, April 2010 referenced.
- Executive summaries available in Español, Français, Русский.
- World Economic and Financial Surveys — Fostering Sustainability.
- View the full text (use the free Adobe Acrobat Reader).
Contents structure — main chapters and themes
- 1. Outlook: Getting the Exit Right
- Recovery in Low Gear
- Normalizing Policies
- From Exit to Restructuring
- 2. Managing Capital Flows
- Emerging Europe’s Diverging Policy Challenges
- Europe Was Different
- The Motivation for Precrisis Inflows
- Policy Implications
- Conclusions
- References
- Boxes:
- IMF-Supported Programs and External Adjustment
- Toward a New European Financial System
- 3. Current Account Imbalances in the Southern Euro Area
- 4. Prudential Measures to Stem the Tide of Capital Inflows in Emerging Europe
- 5. Which Prudential Tool Is Best at Managing the Financial Stability Risks of Capital Inflows? Answers from Model Simulations
- 6. Russia’s Capital Flows: Experience and Challenges
- 7. Financial Reform: An Opportunity for the New Member States
Key statistics, tables, and figures (inventory)
- Tables listed:
- European Countries: Real GDP Growth and CPI Inflation, 2006–10
- European Countries: External and Fiscal Balances, 2006–10
- Uses of Capital Inflows, 2000–07
- Figures listed (selection):
- The Great Contraction: What Drives Cross-Country Differences
- Euro Area: Contribution to Growth, 2006–09
- Asset Prices Compared with Pre-Lehman Levels
- Euro Area: Bond, Equity, and Money Markets
- Key Drivers of the Expected Recovery, 2009–10
- Selected European Countries: Key Short-Term Indicators
- Euro Area: Gross Investment Ratio of Nonfinancial Corporations, March 2000–September 2009
- Additional numbered figures and tables include indicators on credit, savings, unemployment, inflation, monetary aggregates, cross-country dispersion, public debt stabilization, composition and volume of capital inflows, macroeconomic performance by region, composition of capital inflows in CESE, structural reforms and capital inflows, external privatization receipts and FDI, exchange rate flexibility, real lending rates, competitiveness, wage-cost gaps, banking indicators, return on assets (2007), currency mismatch (2007), capital flow restrictions (1995–2007), credit default swap spreads (January 2008–March 2010).
- Appendix Tables:
- Capital Inflows Panel Regression
- Policy Responses to Capital Inflows, 1993–2007
Analytical emphasis and policy recommendations (from table of contents and press points)
- Continue macroeconomic support while establishing a credible exit and normalization strategy.
- Implement large medium-term fiscal consolidations to restore fiscal sustainability.
- Reorient financial-sector policy from blanket systemic support to targeted interventions in individual institutions.
- Revamp financial sector regulation and supervision to address structural weaknesses exposed by the crisis.
- Improve functioning of products and labor markets to support adjustment and growth.
- Fill gaps in the euro area’s fiscal governance to strengthen resilience.
- For emerging Europe specifically:
- Reorient growth toward exports.
- Attract healthy capital inflows and manage capital flow risks via prudential measures and suitable policy frameworks.
Regional Economic Outlook: Europe -- Fostering Sustainability, May 2010 -- Table of Contents
Content in this bundle
- Perspectives économiques régionales : EUROPE - Résumé analytique - Mai 2010
- Perspectives économiques régionales : Europe -- Points de presse pour les chapitres 2 Mai 2010
- Regional Economic Outlook: EUROPE - Executive Summary - May 2010
- Regional Economic Outlook--EUROPE: Fostering Sustainability
- Regional Economic Outlook: Europe -- Press points for Chapters 2 - May 2010.
- Перспективы развития региональной экономики: Европа
- Тезисы для прессы по главе 2 «Управление потоками капитала»
- Perspectivas económicas regionales: EUROPA
- Perspectivas económicas regionales: Europa - Notas de prensa de los capítulos 2
References
- Press Release: IMF Says Moderate and Uneven Recovery Taking Shape Across Europe
- Regional Economic Outlooks
- IMF Regional Reports
- World Economic Outlook:
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