June 29 − July 2, 2005
<br />Dubrovnik, Croatia
            SCIENTIFIC COMMITTEE
- Mr. Željko Rohatinski, Chairman, Governor of the Croatian National Bank
- Mr. Boris Vujčić, Vice Chairman, Assistant Professor, Deputy Governor of the Croatian National Bank
- Mr. Mario I. Blejer, Member, Director of the Centre for Central Banking Studies, Bank of England
- Mr. Jacob A. Frenkel, Member, Vice Chairman of the American International Group, Inc.
- Mr. Paul Wachtel, Member, Professor, New York University, Leonard N. Stern School of Business,
ORGANIZING COMMITTEE
- Mr. Tomislav Presečan, Chairman, Vicegovernor of the Croatian National Bank, Chairman of the Committee
- Ms. Nina Srkalović, Head of the Office of the Governor, Deputy Chairwoman of the Committee
- Ms. Mirjana Šipić, Senior Advisor in the Accounting Department, Member of the Committee
- Ms. Vanja Orešković, Associate in the Office of the Governor, Secretary of the Committee
LIST OF PARTICIPANTS
(participation by invitation only)
PAPERS
Session I
- Jürgen von Hagen and Guntram B. Wolff: What do deficits tell us about debt? Empirical evidence on creative accounting with fiscal rules in the EU
 PRESENTATION
 Comments by Athanasios Vamvakidis
- Gian Maria Milesi-Ferretti and Kenji Moriyama: Fiscal Adjustment in EU Countries: A Balance Sheet Approach
 PRESENTATION
 Comments by Paul Wachtel
Session II
- Max Watson:  Financial Stability during Convergence: Is Fiscal Policy the Right Regulator?
 PRESENTATION
- Gábor Orbán and György Szapáry: The Stability and Growth Pact and its Reform from the Perspective of the New Member States
 PRESENTATION
 Comments by Neven Mates
Session III
- E. Borensztein, M. Chamon, O. Jeanne, P. Mauro, J. Zettelmeyer: Sovereign Debt Structure for Crisis Prevention
 PRESENTATION
 Comments by Maroje Lang
- Michael D. Bordo and Christopher M. Meissner: The Role of Foreign Currency Debt in Financial Crises: 1880-1913 vs. 1972-1997 
 PRESENTATION
Session IV
- Katja Gattin - Turkalj: Estimates of the Fundamental Equilibrium Exchange Rate of Kuna
 PRESENTATION
- Balázs Égert, Amina Lahreche-Révil, Kirsten Lommatzsch: The Stock-Flow Approach to the Real Exchange Rate of CEE Transition Economies
 PRESENTATION
 Comments by Boštjan Jazbec
Session V
- Thorsten Leo Beck and Luc Laeven: Institutions Building and Growth in Transition Economies
 Comments by Oleh Havrylyshyn
- Romain Ranciere, Aaron Tornell and Frank Westermann: Crisis and Growth: A Re-evaluation
 Comments by Randall K. Filler
Session VI
- José Manuel Campa and Ignacio Hernando: M&As Performance in the European Financial Industry
 PRESENTATION
- Charles A.E. Goodhart: A Framework for Assessing Financial Stability?
 PRESENTATION
 Comments by Piroska M. Nagy
PANEL DISCUSSION
- Mario I. Blejer: Financial Stability and Financial Efficiency
- Giorgio Szeg: Banks: From Planned to Market Economy in EU
