Download PDF by Stephan Barisitz: Banking in Central and Eastern Europe 1980-2006: From

By Stephan Barisitz

ISBN-10: 0203945247

ISBN-13: 9780203945247

ISBN-10: 0415428815

ISBN-13: 9780415428811

Comparative in constitution and masking an in depth variety of transition international locations in its survey, this finished booklet overviews the advance of the banking platforms in imperative and jap eu because the communist period until eventually the current time.

Taking in quite a number international locations together with Hungary, Poland, Czech Republic, Slovakia, Bulgaria, Romania, Croatia, Russia, Ukraine, Belarus, Kazakhstan, Uzbekistan, Barisitz - an economist with the primary financial institution of Austra - analyzes the evolution of criminal foundations, banking supervision, banks’ significant assets of resources, liabilities, gains and similar alterations, banking crises, restructuring, rehabilitation courses, the position of foreign-owned banks and FDI.

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


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Additional info for Banking in Central and Eastern Europe 1980-2006: From Communism to Capitalism

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This provided the authorities with more freedom to maneuver and a wider choice of possible privatization and banking reform strategies. In particular, the absence of substantial financial problems for the state protected the authorities from any immediate necessity to look for income by selling off enterprises or banks. 5 The economy had been heavily dominated by large state-owned enterprises (SOEs). e. immediately after the regime change. The Státní banka Ceskoslovenská was split up: The state bank confined itself to market-oriented central banking responsibilities.

Nevertheless, external audits commissioned by the Finance Ministry confirmed a tendency of further deterioration of a number of SOBs’ credit portfolios. This necessitated the authorities’ intervention to stave off a looming banking crisis. Although foreign experts proposed carrying out a standard centralized recapitalization scheme, including a single operation of cleaning banks’ assets by transferring bad loans to a specially created restructuring agency, the Polish authorities chose to opt for a decentralized approach comprising a one-off capital injection (state treasury bonds) conditional on banks’ obligation to restructure non-performing SOE loans within a fixed period (originally one year, later extended to three years).

There also appeared to be a consensus that voucher privatization of larger state-owned firms and banks would be not only morally just but also economically justified, given that it was argued that market forces would work effectively only after property rights had been swiftly installed (Anderson and Kegels 1998: 200). 5). In February 1991, the Konsolidacní banka was founded by the Finance Ministry. This special institution was the state receiver of bad loans (hospital bank). The same year, the largest state-owned commercial banks were recapitalized: Non-performing loans from the past were transferred to Konsolidacní banka, state bonds were placed in the credit institutions’ portfolios.

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

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