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The Banking Sector in New EU Member Countries: A Sectoral Financial Flows Analysis (in English)

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Abstract

The authors analyze financial-system development in the so-called Visegrad Four countries (Hungary, the Czech Republic, Poland, and Slovakia) during 1993–2005. They conceptualize the Visegrad Group economy as a set of sectors that interchange financial assets to measure financial-system development. In particular, they analyze financial flows between the commercial banking sector and other sectors of the economy. They show that households and non-financial companies are the largest creditors. In terms of debits, non-financial companies are the largest borrowers. Further, they provide indirect evidence that the completed privatization of the Visegrad banking sector is an important factor behind the dramatic change in the degree of credit and debit flows. The majority of the data series in all four countries exhibit structural breaks in mean in the year in which the privatization of the banking sector was completed. The importance of the individual channels of financial flows is assessed using intermediation ratios. The authors show that the role of banks as mobilizers of savings from the non-financial sectors is substantial and that banking is not a declining industry in the Visegrad Four countries.

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Bibliographic Info

Article provided by Charles University Prague, Faculty of Social Sciences in its journal Finance a uver - Czech Journal of Economics and Finance.

Volume (Year): 57 (2007)
Issue (Month): 5-6 (August)
Pages: 200-224

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Handle: RePEc:fau:fauart:v:57:y:2007:i:5-6:p:200-224

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Keywords: banking; financial intermediation; emerging markets; European Union;

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Cited by:
  1. Pavel Dvorak & Jan Hanousek, 2009. "Paying for Banking Services: What Determines the Fees?," CERGE-EI Working Papers wp388, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
  2. Elena Pelinescu & Petre Caraiani, 2012. "The Credit Policy And Its Impact On The Romanian Economy," New Trends in Modelling and Economic Forecast (MEF 2011), ROMANIAN ACADEMY – INSTITUTE FOR ECONOMIC FORECASTING & "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences, vol. 1(1), pages 54-68, January.
  3. Jarko Fidrmuc & Philipp J. Süss, 2011. "The Outbreak of the Russian Banking Crisis," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 5(1), pages 046-063, March.
  4. Adelaide Figueiredo & Fernanda Figueiredo & Natália P. Monteiro & Odd Rune Straume, 2011. "Restructuring in privatised firms: a Statis approach," FEP Working Papers 404, Universidade do Porto, Faculdade de Economia do Porto.
  5. Evzen Kocenda & Jan Hanousek & Michal Masika, 2011. "Financial Efficiency and the Ownership of Czech Firms," William Davidson Institute Working Papers Series wp1016, William Davidson Institute at the University of Michigan.
  6. Hanousek, Jan & Kočenda, Evžen & Mašika, Michal, 2012. "Firm efficiency: Domestic owners, coalitions, and FDI," Economic Systems, Elsevier, vol. 36(4), pages 471-486.
  7. Evžen Kocenda & Martin Vojtek, 2011. "Default Predictors in Retail Credit Scoring: Evidence from Czech Banking Data," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 47(6), pages 80-98, November.
  8. Fungachova, Z. & Solanko, L., 2010. "Has Banks’ Financial Intermediation Improved in Russia?," Journal of the New Economic Association, New Economic Association, issue 8, pages 101-116.

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