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Financial Sector Reforms and Exchange Arrangements in Eastern Europe

Author

Listed:
  • Mr. Guillermo Calvo
  • Mr. Eduardo Borensztein
  • Mr. Paul R Masson
  • Mr. Manmohan S. Kumar

Abstract

The two papers draw from the brief yet radical reform experiences of five countries-Bulgaria, former Czechoslovakia, Hungary, Poland, and Romania. The first paper describes the financial sector reforms untertaken by these countries since the 1980s, as well as the problems encountered. It also discusses the roles privatization, stabilization policies, and prudential supervision can play in the financial sector development of these countries. The second paper analyzes the different exchange arrangements as they apply to previously centrally planned economies; examines the general arguments for convertability in these countries; and considers the desirable degree of exchange rate flexibility.

Suggested Citation

  • Mr. Guillermo Calvo & Mr. Eduardo Borensztein & Mr. Paul R Masson & Mr. Manmohan S. Kumar, 1993. "Financial Sector Reforms and Exchange Arrangements in Eastern Europe," IMF Occasional Papers 1993/002, International Monetary Fund.
    • Handle: RePEc:imf:imfops:1993/002
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    Citations

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    Cited by:

    1. Barry Eichengreen., 1993. "International Monetary Arrangements for the 21st Century," Center for International and Development Economics Research (CIDER) Working Papers C93-021, University of California at Berkeley.
    2. Jérôme Sgard, 1995. "Ajustement des entreprises et distribution du crédit pendant la transition," Post-Print hal-03585825, HAL.
    3. repec:hal:spmain:info:hdl:2441/7104 is not listed on IDEAS
    4. Yosem E. Companys, 1997. "Institution-Building: Financial Sector Reform in Cuba," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 7.
    5. Jérôme Sgard, 1995. "Ajustement des entreprises et distribution du crédit pendant la transition," SciencePo Working papers Main hal-03585825, HAL.
    6. Christos Papazoglou, 1999. "Exchange Rate Policy and Output Growth: The Experience of the Transition Economies of Central and Eastern Europe," Post-Communist Economies, Taylor & Francis Journals, vol. 11(3), pages 319-336.
    7. Robert Mulligan & Erwin Nijsse, 2001. "Shortage and currency substitution in transition economies: Bulgaria, Hungary, Poland, and Romania," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 7(3), pages 275-295, August.
    8. van Aarle, B. & Budina, N., 1995. "Currency substitution in Eastern Europe," Discussion Paper 1995-2, Tilburg University, Center for Economic Research.
    9. Warren Coats & Marko Škreb, 2002. "Ten Years of Transition - Central Banking in the CEE and the Baltics," Surveys 7, The Croatian National Bank, Croatia.
    10. repec:hal:spmain:info:hdl:2441/8101 is not listed on IDEAS
    11. Jérôme Sgard, 1995. "Recapitalisations des banques et aléa moral en Hongrie et en Pologne," Post-Print hal-03585854, HAL.
    12. Jérôme Sgard, 1995. "Ajustement des entreprises et distribution du crédit pendant la transition : une comparaison de quatre pays d'Europe centrale et orientale," Revue Économique, Programme National Persée, vol. 46(3), pages 787-796.
    13. Denisova Irina, 2000. "Credit Channel of Monetary Transmission: the Role of Industrial Interenterprise Arrears," EERC Working Paper Series 99-12e, EERC Research Network, Russia and CIS.
    14. Jérôme Sgard, 1995. "Ajustement des entreprises et distribution du crédit pendant la transition: Une comparaison de quatre pays d'Europe centrale et orientale," Sciences Po publications info:hdl:2441/7104, Sciences Po.
    15. Jérôme Sgard, 1995. "Recapitalisations des banques et aléa moral en Hongrie et en Pologne," Sciences Po publications info:hdl:2441/8101, Sciences Po.
    16. Scholtens, Bert, 2000. "Financial regulation and financial system architecture in Central Europe," Journal of Banking & Finance, Elsevier, vol. 24(4), pages 525-553, April.

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