The financial system of the new EU member states: experiences and current challenges
AbstractThe current financial crisis has had a severe impact on the European financial systems, reinforcing the ongoing discussion about the scale, scope, performance, safety and soundness of the financial system and its institutions. In this context, the purpose of this research is to highlight, using an empirical approach and a quantitative analysis, the vulnerabilities accumulated by the financial systems from the new EU member states (Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania) during the period before the current global economic crisis broke out and to emphasize the extremely serious consequences of the current crisis on their financial systems, the interaction between the financial sector and the real economy, the measures taken by the authorities in order to avoid the collapse of financial systems, as well as the new challenges aroused for the authorities in the current context. Finally, we argue then that building a safer financial system with better crisis management and a compelling solution for burden‐sharing should be the current priority.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by ScientificPapers.org in its journal Journal of Knowledge Management, Economics and Information Technology.
Volume (Year): 1 (2011)
Issue (Month): 7 (December)
Contact details of provider:
Web page: http://www.scientificpapers.org
financial system; banking sector; credit growth; capital market; new EU member states; financial crisis;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Stolz, Stéphanie Marie & Wedow, Michael, 2010.
"Extraordinary measures in extraordinary times: Public measures in support of the financial sector in the EU and the United States,"
Discussion Paper Series 1: Economic Studies
2010,13, Deutsche Bundesbank, Research Centre.
- Stolz, Stéphanie Marie & Wedow, Michael, 2010. "Extraordinary measures in extraordinary times – Public measures in support of the financial sector in the EU and the United States," Occasional Paper Series 117, European Central Bank.
- Philippe Aghion & Peter Howitt & David Mayer-Foulkes, 2005.
"The Effect of Financial Development on Convergence: Theory and Evidence,"
The Quarterly Journal of Economics,
MIT Press, vol. 120(1), pages 173-222, January.
- Howitt, Peter & Mayer-Foulkes, David & Aghion, Philippe, 2005. "The Effect of Financial Development on Convergence: Theory and Evidence," Scholarly Articles 4481509, Harvard University Department of Economics.
- Philippe Aghion & Peter Howitt & David Mayer-Foulkes, 2004. "The Effects of Financial Development on Convergence: Theory and Evidence," DEGIT Conference Papers c009_021, DEGIT, Dynamics, Economic Growth, and International Trade.
- Philippe Aghion & Peter Howitt & David Mayer-Foulkes, 2004. "The Effect of Financial Development on Convergence: Theory and Evidence," NBER Working Papers 10358, National Bureau of Economic Research, Inc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Adrian Ghencea).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.