Banking in Central and Eastern Europe 1980-2006: From - download pdf or read online

By Stephan Barisitz

ISBN-10: 0203945247

ISBN-13: 9780203945247

ISBN-10: 0415428815

ISBN-13: 9780415428811

Comparative in constitution and overlaying an intensive variety of transition international locations in its survey, this accomplished e-book overviews the advance of the banking structures in relevant and jap eu because the communist period till the current time.

Taking in a variety of nations together with Hungary, Poland, Czech Republic, Slovakia, Bulgaria, Romania, Croatia, Russia, Ukraine, Belarus, Kazakhstan, Uzbekistan, Barisitz - an economist with the significant financial institution of Austra - analyzes the evolution of felony foundations, banking supervision, banks’ significant resources of resources, liabilities, gains and comparable adjustments, banking crises, restructuring, rehabilitation courses, the position of foreign-owned banks and FDI.

A major ebook, it truly is attention-grabbing examining for all these learning and dealing within the components of transition economic system, macro and financial economic system and monetary history


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B Average over all maturities. c Excluding loans on the books of Konsolidacni Banka and banks in receivership. Sources: various EBRD Transition Reports, Bank Austria-Creditanstalt. 3 Czech Republic: macroeconomic and banking sector-related indicators (1992–2000) Transition, liberalization, banking crises 31 bank administration and most of them (including Agrobanka) eventually had their licenses revoked. Following the currency turmoil of May 1997 and the ensuing devaluation of the koruna, the CNB finally started to enforce tighter banking regulation and supervision, which corresponded to a first step toward hard budget constraints.

Due to intensified competition from the above-mentioned sources, margins between lending and deposit rates declined significantly. The banking sector was well capitalized. Poland Polish banking reforms were not as swift as those of Hungary but they did include as their centerpiece a decentralized restructuring program which changed incentives for banks as well as the real sector and effectively contributed to introducing hard budget constraints in the Polish economy. At the outset, however, liberal licensing policies and weak rules promoted the prolifer- Transition, liberalization, banking crises 25 ation of credit institutions, among them many pocket banks, which was reined in only in 1992 by the central bank’s imposition of higher capital requirements and other restrictions.

The more complex the economies became, the more heavily the general rigidity and inefficiency of the system acted as a brake on growth and technical progress. Central planning could not have survived as long as it did without a robust and supple underground or informal economy. However, given that this informal economy was mostly illegal, such basically market-oriented activities had to be continuously disguised. The Yugoslav system Back in the 1950s, the former Socialist Federal Republic of Yugoslavia (SFRY) had shifted from central planning to a decentralized quasi-market-oriented system of workers’ self-management.

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Banking in Central and Eastern Europe 1980-2006: From Communism to Capitalism by Stephan Barisitz

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