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An institutional approach to banking reform in Eastern Europe

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  • Buch, Claudia M.

Abstract

This paper applies the arguments of institutional economics to the issue of banking system reform. Institutional reforms are of particular importance in the financial sphere because banking operations were heavily restricted under central planning and, at the same time, banks are assigned a crucial role in the restructuring of the economies and the establishment of effective corporate control. A universal banking system provides the institutional framework which suits the requirements of Eastern Europe best because it opens a wide avenue of contract designs. Hazards of universal banking can be reduced by imposing regulatory requirements. This paper relates the theoretical findings of institutional economics to the progress made with reforms in the banking systems.

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Bibliographic Info

Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 560.

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Date of creation: 1993
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Handle: RePEc:kie:kieliw:560

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  1. van Wijnbergen, Sweder, 1992. "Enterprise Reform in Eastern Europe," CEPR Discussion Papers, C.E.P.R. Discussion Papers 738, C.E.P.R. Discussion Papers.
  2. Corbett, Jenny & Mayer, Colin, 1991. "Financial Reform in Eastern Europe: Progress with the Wrong Model," Oxford Review of Economic Policy, Oxford University Press, Oxford University Press, vol. 7(4), pages 57-75, Winter.
  3. David Begg & Richard Portes, 1993. "Enterprise debt and economic transformation (Financial restructuring of the state sector in Central and Eastern Europe)," The Economics of Transition, The European Bank for Reconstruction and Development, The European Bank for Reconstruction and Development, vol. 1(1), pages 116-117, 01.
  4. Joseph E. Stiglitz, 1991. "Government, Financial Markets, and Economic Development," NBER Working Papers 3669, National Bureau of Economic Research, Inc.
  5. Carlin, Wendy & Mayer, Colin, 1992. "Restructuring Enterprises in Eastern Europe," CEPR Discussion Papers, C.E.P.R. Discussion Papers 700, C.E.P.R. Discussion Papers.
  6. Michael H. Riordan, 1992. "Competition and Bank Performance: A Theoretical Perspective," Papers, Boston University - Industry Studies Programme 0026, Boston University - Industry Studies Programme.
  7. Edwards,Jeremy & Fischer,Klaus, 1996. "Banks, Finance and Investment in Germany," Cambridge Books, Cambridge University Press, Cambridge University Press, number 9780521566087.
  8. Edwards, Jeremy, 1991. "Banks, Finance and Investment in West Germany since 1970," CEPR Discussion Papers, C.E.P.R. Discussion Papers 497, C.E.P.R. Discussion Papers.
  9. Alexander, Ian & Mayer, Colin, 1990. "Banks and Securities Markets: Corporate Financing in Germany and the UK," CEPR Discussion Papers, C.E.P.R. Discussion Papers 433, C.E.P.R. Discussion Papers.
  10. Steven A. Sharpe, 1989. "Asymmetric information, bank lending, and implicit contracts: a stylized model of customer relationships," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 70, Board of Governors of the Federal Reserve System (U.S.).
  11. Ronald I. McKinnon, 1992. "Macroeconomic control in liberalizing Socialist economies: Asian and European parallels," Pacific Basin Working Paper Series, Federal Reserve Bank of San Francisco 92-05, Federal Reserve Bank of San Francisco.
  12. Guillermo A. Calvo & Jacob A. Frenkel, 1991. "Credit Markets, Credibility, and Economic Transformation," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 5(4), pages 139-148, Fall.
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Cited by:
  1. Raiser, Martin & Nunnenkamp, Peter, 1993. "Output decline and recovery in Central Europe: the role of incentives before, during and after privatisation," Kiel Working Papers 601, Kiel Institute for the World Economy.
  2. Raiser, Martin, 1993. "Governing the transition to a market economy," Kiel Working Papers 592, Kiel Institute for the World Economy.

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