Banking in transition countries
AbstractModern banking institutions were virtually non-existent in the planned economies of central Europe and the former Soviet Union. In the early transition period, banking sectors began to develop during several years of macroeconomic decline and turbulence accompanied by repeated bank crises. However, governments in many transition countries learned from these tumultuous experiences and eventually dealt successfully with the accumulated bad loans and lack of strong bank regulation. In addition, rapid progress in bank privatization and consolidation took place in the late 1990s and early 2000s, usually with the participation of foreign banks. By 2005, the banking sectors in many transition countries had developed sufficiently to provide a wide range of services with solid bank performance. Recently, banks have switched their focus from lending to enterprises in a somewhat underdeveloped institutional environment to new collateralized lending to households, which accounts for much of the recent growth of credit in many transition countries.
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Bibliographic InfoPaper provided by Bank of Finland, Institute for Economies in Transition in its series BOFIT Discussion Papers with number 12/2008.
Length: 34 pages
Date of creation: 27 Aug 2008
Date of revision:
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transition banking; bank privatization; foreign banks; bank regulation; credit growth;
Other versions of this item:
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- P30 - Economic Systems - - Socialist Institutions and Their Transitions - - - General
- P34 - Economic Systems - - Socialist Institutions and Their Transitions - - - Finance
- P52 - Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-08-31 (All new papers)
- NEP-BAN-2008-08-31 (Banking)
- NEP-EEC-2008-08-31 (European Economics)
- NEP-EFF-2008-08-31 (Efficiency & Productivity)
- NEP-HIS-2008-08-31 (Business, Economic & Financial History)
- NEP-TRA-2008-08-31 (Transition Economics)
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