Financial structures to promote private sector development in south-eastern Europe
AbstractThis paper investigates the extent to which the financial sector in south-eastern Europe (SEE) responds to the needs of the local private sector. It does so through an analysis of the sources of finance used by enterprises when making fixed investments, and by looking at the level of banking intermediation and the (lack of) development of the non-banking financial sector. Enterprises in SEE are found to rely mainly on internal funds to finance expansion. The degree of financial intermediation of which the local banking system is capable is far lower than in Western economies. The paper examines various characteristics of the financial sector to gain an understanding of this poor performance.
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 InfoPaper provided by European Bank for Reconstruction and Development, Office of the Chief Economist in its series Working Papers with number 64.
Length: 35 pages
Date of creation: Jun 2001
Date of revision:
Contact details of provider:
Postal: One Exchange Square, London EC2A 2JN
Web page: http://www.ebrd.com/pages/research/publications/workingpapers.shtml
More information through EDIRC
financial sector; enterprises; south-eastern Europe;
Find related papers by JEL classification:
- N2 - Economic History - - Financial Markets and Institutions
- P3 - Economic Systems - - Socialist Institutions and Their Transitions
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.:
- International Monetary Fund, 2001. "Albania: First Review Under the Third Annual Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver of Performance Criteria--Staff Report; Staff Statement; News Brief on th," IMF Staff Country Reports 01/29, International Monetary Fund.
- Ivanna Vladkova Hollar & Giovanni Dell'Ariccia & Carlo Cottarelli, 2003.
"Early Birds, Late Risers, and Sleeping Beauties: Bank Credit Growth to the Private Sector in Central and Eastern Europe and in the Balkans,"
IMF Working Papers
03/213, International Monetary Fund.
- Cottarelli, Carlo & Dell'Ariccia, Giovanni & Vladkova-Hollar, Ivanna, 2005. "Early birds, late risers, and sleeping beauties: Bank credit growth to the private sector in Central and Eastern Europe and in the Balkans," Journal of Banking & Finance, Elsevier, vol. 29(1), pages 83-104, January.
- John P. Bonin, 2001. "Financial Intermediation in Southeast Europe: Banking On the Balkans," The wiiw Balkan Observatory Working Papers 006, The Vienna Institute for International Economic Studies, wiiw.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Olga Lucas).
If references are entirely missing, you can add them using this form.