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Comparative empirical analysis of financial intermediation systems in Central and Eastern Europe

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  • Horbaczewska Bożena

    (Collegium of World Economy, SGH Warsaw School of Economics, Warsaw, Poland)

Abstract

The purpose of this paper is to evaluate the level of similarity between financial systems in selected Central and Eastern European countries (CEE11) and four models of capitalism in Western Europe identified by B. Amable [The diversity of modern capitalism, 2003]. A comparative analysis in this institutional area was done on the basis of six variables. Three of them represent inputs, that is, institutional determinants, and other three variables describe outputs of institutional regulations. For each of them coefficients of similarity between a CEE11 country and a selected Western European country were calculated, and based on it the similarity hexagons were created. In this paper, two pictures of the institutional arrangements were taken: for 2005 and for 2014. Additionally, an analysis of changes that took place in institutional solutions in the CEE11 countries, based on the variables and the coefficients of similarity, was carried out.

Suggested Citation

  • Horbaczewska Bożena, 2019. "Comparative empirical analysis of financial intermediation systems in Central and Eastern Europe," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 55(3), pages 250-267, September.
    • Handle: RePEc:vrs:ijomae:v:55:y:2019:i:3:p:250-267:n:3
    DOI: 10.2478/ijme-2019-0016
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    References listed on IDEAS

    as
    1. Amable, Bruno, 2003. "The Diversity of Modern Capitalism," OUP Catalogue, Oxford University Press, number 9780199261147.
    2. Hall, Peter A. & Gingerich, Daniel W., 2009. "Varieties of Capitalism and Institutional Complementarities in the Political Economy: An Empirical Analysis," British Journal of Political Science, Cambridge University Press, vol. 39(3), pages 449-482, July.
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    More about this item

    Keywords

    financial systems; comparative empirical study; Central and Eastern Europe;
    All these keywords.

    JEL classification:

    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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