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Regional Integration Challenges in South East Europe: Banking Sector Trends

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  • George Stubos

    ()
    (Bank of Greece)

  • Ioannis Tsikripis

    (Bank of Greece)

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    Abstract

    This study reviews and evaluates a particular aspect of the institution building process in the transition countries of Southeast Europe. The focus is the development of the banking sector. It is argued that banking sector development plays an integral and pivotal role in the successful completion of the transition process. It functions as a very strong integrating force contributing to the broader institution building process and as a pillar of future growth and development in the new market environment of the Balkan economies. This study concentrates on three main issues. First, it undertakes a brief literature review of regional integration approaches in the Balkans. Second, it provides an overview of the most significant changes that have taken place in the banking sector. Third, it reviews some structural characteristics and performance indicators, all of which point to considerable advancements made in this sector in recent years. Empirical evidence is provided showing that a substantial harmonisation of ownership structures and performance indicators has been achieved in the banking sectors of these countries initiating a convergence process toward EU banking structures and functions. In this regard, this study complements the findings of other studies focusing on various sectors of economic activity, which clearly show that a de facto regional and, even more so, continental integration of the Southeast European countries is under way.

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    Bibliographic Info

    Paper provided by Bank of Greece in its series Working Papers with number 24.

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    Length: 36 pages
    Date of creation: Jun 2005
    Date of revision:
    Handle: RePEc:bog:wpaper:24

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    Related research

    Keywords: Balkan banking; foreign banks; regional integration; transition policies;

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    References

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    1. John P. Bonin, 2001. "Financial Intermediation in Southeast Europe: Banking On the Balkans," wiiw Balkan Observatory Working Papers 006, The Vienna Institute for International Economic Studies, wiiw.
    2. Caprio, Gerard, Jr & Levine, Ross, 1994. "Reforming Finance in Transitional Socialist Economies," World Bank Research Observer, World Bank Group, vol. 9(1), pages 1-24, January.
    3. Lukasz Konopielko, 1999. "Foreign Banks' Entry into Central and East European Markets: Motives and Activities," Post-Communist Economies, Taylor & Francis Journals, vol. 11(4), pages 463-485.
    4. Ralph de Haas & Iman van Lelyveld, 2002. "Foreign Bank Penetration and Private Sector Credit in Central and Eastern Europe," International Finance 0209002, EconWPA.
    5. Anders ├ůslund & Peter Boone & Simon Johnson, 1996. "How to Stabilize: Lessons from Post -communist Countries," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 27(1), pages 217-314.
    6. George Petrakos, 2002. "Restructuring, Stability, and Development in Southeastern Europe," Eastern European Economics, M.E. Sharpe, Inc., vol. 40(4), pages 3-5, July.
    7. Tsoukalis, Loukas, 1997. "The New European Economy Revisited," OUP Catalogue, Oxford University Press, number 9780198774778, Octomber.
    8. repec:wii:bpaper:bowp:061 is not listed on IDEAS
    9. Mitko Dimitrov & Saul Estrin & Xavier Richet, 1997. "Cross Countries Study: State Enterprises Restructuring in Bulgaria, Romania and Albania," ERI-BAS Chapters, in: Mitko Dimitrov (ed.), State Enterprise Restructuring in Bulgaria, Romania and Albania, edition 1, chapter 1, pages 9-30 Bulgarian Academy of Sciences - Economic Research Institute.
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    Cited by:
    1. Hans Genberg, 2006. "Exchange-Rate Arrangements an Financial Integration in East Asia: On a Collision Course?," Working Papers 122, Oesterreichische Nationalbank (Austrian Central Bank).
    2. George A. Christodoulakis & Stephen E Satchell, 2006. "Exact Elliptical Distributions for Models of Conditionally Random Financial Volatility," Working Papers 32, Bank of Greece.
    3. John Williamson, 2006. "A Worldwide System of Reference Rates," Working Papers 130, Oesterreichische Nationalbank (Austrian Central Bank).
    4. P. Swamy & George Tavlas, 2007. "The New Keynesian Phillips Curve and Inflation Expectations: Re-Specification and Interpretation," Economic Theory, Springer, vol. 31(2), pages 293-306, May.
    5. Athanasoglou, Panayiotis & Delis, Manthos & Staikouras, Christos, 2006. "Determinants Of Bank Profitability In The South Eastern European Region," MPRA Paper 10274, University Library of Munich, Germany.
    6. Otmar Issing, 2006. "Europe's Hard Fix: The Euro Area," Working Papers 39, Bank of Greece.
    7. Eleni Angelopoulou, 2005. "The Comparative Performance of Q-type and Dynamic Models of Firm Investment: Empirical Evidence from the UK," Working Papers 27, Bank of Greece.

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