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Financial Reform in Eastern Europe: Progress With the Wrong Model

Author

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  • Corbett, Jennifer
  • Mayer, Colin

Abstract

Eastern Europe is engaged in a massive programme of financial reform. This paper argues that while this programme has many desirable features, it has failed to address some of the most basic issues. These concern the relationship between the financial system and the enterprise sector, and the association suggests that there is a choice between financial systems that has not as yet been adequately considered and that it is far from evident that Eastern Europe is at present proceeding with the right model.

Suggested Citation

  • Corbett, Jennifer & Mayer, Colin, 1991. "Financial Reform in Eastern Europe: Progress With the Wrong Model," CEPR Discussion Papers 603, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:603
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    Keywords

    Banking; Corporate Control; Eastern Europe; Financial Systems; Privatization;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • P34 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Finance
    • P59 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Other

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