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The scope and nature of privatisation in the financial sector

Author

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  • Janusz J. Tomidajewicz

    (Department of Economic and Local Government Policy Poznan University of Economics)

Abstract

The processes of financial-system privatisation and commodification in the European countries investigated here took place mostly as a result of changes in the legal and organisational framework for conducting financial activity and as a consequence of individual privatisation decisions taken mainly for macroeconomic reasons. This suggests the predominance of ideological and macroeconomic reasons for the process in Europe. The phenomenon was most clearly visible in CEE countries, although it could also be seen in the privatisation processes taking place in countries of Western Europe. As a result, differences in the subjective and objective scope of financial-sector privatisation in particular European countries should be attributed much more to the influence of ideological reasons – an influence stemming largely from the impact of pressure groups interested in privatisation – than to pressure from the economic determinants of financial activity manifesting themselves in microeconomic reasons for privatisation

Suggested Citation

  • Janusz J. Tomidajewicz, 2015. "The scope and nature of privatisation in the financial sector," Working papers wpaper97, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    • Handle: RePEc:fes:wpaper:wpaper97
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    privatisation; commodification; financial sector; liberalisation;
    All these keywords.

    JEL classification:

    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy

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