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Economic Transformation and the Reform of the Financial System in Central and Eastern Europe

Author

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  • Székely, Istvan P.

Abstract

The paper investigates those aspects of economic transformation and long-term economic development where financial institutions can and should make a contribution. It also investigates the financial services industry as a sector and tries to point out the conditions which can enable financial firms to perform these tasks properly. Banks, or any other financial firms, will become competitive and innovative only if the market conditions force them to do so. On the other hand, they will be unable to compete if they themselves do not have proper access to resources, production technologies and the appropriate infrastructure, and a supportive legal environment to carry out the necessary product and technology innovation.

Suggested Citation

  • Székely, Istvan P., 1993. "Economic Transformation and the Reform of the Financial System in Central and Eastern Europe," CEPR Discussion Papers 816, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:816
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    Citations

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    Cited by:

    1. Prof. Dr. Robert Holzmann, 1994. "Funded and Private Pensions for Eastern European Countries in Transition?," Public Economics 9405004, University Library of Munich, Germany.
    2. Jean Tirole, 1994. "Western prudential regulation: assessment, and reflections on its application to Central and Eastern Europe1," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 2(2), pages 129-150, June.
    3. R. Dobrinsky & N. Dochev & B. Nikolov, 1997. "Debt Workout and Enterprise Performance in Bulgaria:," CERT Discussion Papers 9715, Centre for Economic Reform and Transformation, Heriot Watt University.

    More about this item

    Keywords

    Eastern Europe; Economic Transformation; Financial Reforms;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • P34 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Finance

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