The Emergence of Financial Markets in Transition: The Czech Experience
AbstractThe study is focused on the first five years of development of well- functioning financial markets that was an important part of economic transition. The Czech experience is used to gain an insight into the complexity of the process of their emergence. Major players on the Czech financial markets are described. Specifically, the role of the central bank, the government sector and the state-owned banking sector in the process of financial markets emergence is analyzed. Then the structure and depth of the Czech financial markets together with reasons of their emergence is reviewed. The study concludes with emphasizing several lessons from the Czech experience. For example, the strategy of slower financial liberalization and of providing fewer licenses at the beginning of transition is recommended.
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Bibliographic InfoPaper provided by EconWPA in its series Macroeconomics with number 0303021.
Length: 52 pages
Date of creation: 26 Mar 2003
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financial markets emergence Czech transition;
Other versions of this item:
- Katerina Smidkova, 2003. "The Emergence of Financial Markets in Transition: The Czech Experience," Macroeconomics 0304005, EconWPA.
- E - Macroeconomics and Monetary Economics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-04-02 (All new papers)
- NEP-EEC-2003-04-02 (European Economics)
- NEP-FMK-2003-04-02 (Financial Markets)
- NEP-MFD-2003-04-02 (Microfinance)
- NEP-TRA-2003-04-02 (Transition Economics)
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