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Transactional Structures of Bank Privatizations in Central Europe and Russia

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  • Meyendorff, Anna
  • Snyder, Edward A.

Abstract

In pursuing bank privatization, governments in Central Europe and Russia faced a common set of policy issues including how to break up the monobank system, deal with troubled loans, transfer equity to the private sector, and attract capital to the banks. For each bank undergoing privatization, the government's approach to such issues determines its transactional structure. We develop this conceptual framework and assess the findings from three studies of major commercial banks undergoing privatization. The varied transactional structures used in these privatizations appear to have had significant effects on each bank's microstructure, and to influence bank strategy and post-privatization performance.
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Suggested Citation

  • Meyendorff, Anna & Snyder, Edward A., 1997. "Transactional Structures of Bank Privatizations in Central Europe and Russia," Journal of Comparative Economics, Elsevier, vol. 25(1), pages 5-30, August.
  • Handle: RePEc:eee:jcecon:v:25:y:1997:i:1:p:5-30
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    Cited by:

    1. Ko TAKATA, 2005. "Evolution of Banking Sector Structures within Central-European Countries during Transition," The Journal of Comparative Economic Studies (JCES), The Japanese Society for Comparative Economic Studies (JSCES), vol. 1, pages 103-136, July.
    2. Mike Wright & Judit Karsai & Zbigniew Dudzinski & Jan Morovic, 1999. "Transition and Active Investors: Venture Capital in Hungary, Poland and Slovakia," Post-Communist Economies, Taylor & Francis Journals, vol. 11(1), pages 27-46.
    3. Abarbanell, Jeffery S. & Meyendorff, Anna, 1997. "Bank Privatization in Post-Communist Russia: The Case of Zhilsotsbank," Journal of Comparative Economics, Elsevier, vol. 25(1), pages 62-96, August.
    4. Ali M. Kutan & Josef C. Brada, 2000. "The evolution of monetary policy in transition economies," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 31-40.
    5. Hasan, Iftekhar & Marton, Katherin, 2003. "Development and efficiency of the banking sector in a transitional economy: Hungarian experience," Journal of Banking & Finance, Elsevier, vol. 27(12), pages 2249-2271, December.
    6. Janez Prasnikar & Jan Svejnar, 1998. "Investment Wages and Ownership During the Transition to a Market Economy: Evidence from Slovenian Firms," William Davidson Institute Working Papers Series 144, William Davidson Institute at the University of Michigan.
    7. Omran, Mohammed, 2007. "Privatization, State Ownership, and Bank Performance in Egypt," World Development, Elsevier, vol. 35(4), pages 714-733, April.
    8. Otchere, Isaac, 2009. "Competitive and value effects of bank privatization in developed countries," Journal of Banking & Finance, Elsevier, vol. 33(12), pages 2373-2385, December.
    9. Mike Wright & Igor Filatotchev & Trevor Buck & Kate Bishop, 2003. "Is Stakeholder Corporate Governance Appropriate in Russia?," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 7(3), pages 263-290, September.
    10. Cull, Robert & Matesova, Jana & Shirley, Mary, 2001. "Ownership structure and the temptation to loot : evidence from privatized firms in the Czech Republic," Policy Research Working Paper Series 2568, The World Bank.
    11. Megginson, William L., 2005. "The economics of bank privatization," Journal of Banking & Finance, Elsevier, vol. 29(8-9), pages 1931-1980, August.
    12. Carree, M.A., 2000. "The Evolution of the Russian Saving Bank Sector During the Transition Era," ERIM Report Series Research in Management ERS-2000-27-STR, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    13. Michael Andrews, 2005. "State-Owned Banks, Stability, Privatization, and Growth; Practical Policy Decisions in a World Without Empirical Proof," IMF Working Papers 05/10, International Monetary Fund.
    14. Cull, Robert & Xu, Lixin Colin, 2000. "Bureaucrats, State Banks, and the Efficiency of Credit Allocation: The Experience of Chinese State-Owned Enterprises," Journal of Comparative Economics, Elsevier, vol. 28(1), pages 1-31, March.
    15. Estrin, Saul & Wright, Mike, 1999. "Corporate Governance in the Former Soviet Union: An Overview," Journal of Comparative Economics, Elsevier, vol. 27(3), pages 398-421, September.
    16. Snyder, Edward A. & Kormendi, Roger C., 1997. "Privatization and Performance of the Czech Republic's Komercni Banka," Journal of Comparative Economics, Elsevier, vol. 25(1), pages 97-128, August.

    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • P34 - Economic Systems - - Socialist Institutions and Their Transitions - - - Finance

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