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Banking reform in transition countries

  • Stijn Claessens

An important debate about financial reform in transition economies is whether or not governments should try to rehabilitate existing state-owned banks or allow a new or parallel banking system to emerge. A comparison of institutional development of banks in twenty-five transition countries suggests that more rapid progress can be made with the entry of new banks as opposed to rehabilitation, especially relative to initial conditions. In most countries, however, a cadre of weak banks still exists. Regression estimates suggest that the progress of these weak banks is inhibited by poor troubled-bank intervention, preferential treatment and limited entry.

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Article provided by Taylor & Francis Journals in its journal Journal of Economic Policy Reform.

Volume (Year): 2 (1998)
Issue (Month): 2 ()
Pages: 115-133

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Handle: RePEc:taf:jpolrf:v:2:y:1998:i:2:p:115-133
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  1. Demirguc-Kunt, Ash & Levine, Ross, 1996. "Stock Market Development and Financial Intermediaries: Stylized Facts," World Bank Economic Review, World Bank Group, vol. 10(2), pages 291-321, May.
  2. Caprio, Gerard Jr. & Summers, Lawrence H., 1993. "Finance and its reform : beyond laissez-faire," Policy Research Working Paper Series 1171, The World Bank.
  3. Gerard Caprio, Jr., 1995. "The role of financial intermediaries in transitional economies," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 42(1), pages 257-302, June.
  4. Dimsdale, Nicholas & Prevezer, Martha (ed.), 1994. "Capital Markets and Corporate Governance," OUP Catalogue, Oxford University Press, number 9780198287889, March.
  5. Ronald I. McKinnon, 1991. "Financial Control in the Transition from Classical Socialism to a Market Economy," Journal of Economic Perspectives, American Economic Association, vol. 5(4), pages 107-122, Fall.
  6. Allen, Franklin & Gale, Douglas, 1995. "A welfare comparison of intermediaries and financial markets in Germany and the US," European Economic Review, Elsevier, vol. 39(2), pages 179-209, February.
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