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Comments of Discussants

In: The Recent Evolution of Financial Systems

Author

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  • Jean-Paul Abraham

Abstract

Presenting the evolution of financial systems as a stage process has become a standard procedure. In Eastern and Central Europe this approach focuses on the transition from monobanking to commercial banking, from the dominance of a state bank, which combines and monopolises central and commercial banking, to the interaction between a public, macro-orientated central bank and mostly private, microorientated commercial banks. In the West, as exemplified by Rybczynski’s writings, analysts concentrate on the transition from the B(anking) System to the M(arket) System. The former is based on intermediation, relations banking and a global approach to the customer, cross-subsidisation of bank products, stability and non-price competition. The latter, on the contrary, stresses diversification of products and participants, transactions banking, specialisation, securitisation, market-determined pricing of products and services, efficiency and volatility.

Suggested Citation

  • Jean-Paul Abraham, 1997. "Comments of Discussants," Palgrave Macmillan Books, in: Jack Revell (ed.), The Recent Evolution of Financial Systems, chapter 0, pages 57-87, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-14192-0_4
    DOI: 10.1007/978-1-349-14192-0_4
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