Impact of the Economic Crisis on the Countries in Eastern Europe (II)

In this study we look at the macroeconomic factors that differentiated ten countries of Central and Eastern Europe with respect to their response to the global crisis of 2008-2010. More precisely, we want to find out why some countries experienced larger GDP declines than others in 2009. We find that previous short term indebtedness and private credit regulation played an important role.crisis, credit market, Eastern Europe, financial sector