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Western Prudential Regulation: Assessment, and Reflections on its Application to Central and Eastern Europe

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  • Tirole, Jean

Abstract

Achieving a safe and efficient financial intermediation in Central and Eastern Europe (CEE) is a complex matter. This paper first supplies a conceptual framework for the analysis of prudential regulation, and derives a number of implications for capital adequacy requirements, balance sheet adjustments, and accounting. It also discusses political economy issues and the question of whether large banks are really "too big to fail." The second part of the paper summarizes the situation in CEE and establishes a list of specificities of the banking environment there. It then reviews some major policy questions in the light of these specificities.

Suggested Citation

  • Tirole, Jean, 1993. "Western Prudential Regulation: Assessment, and Reflections on its Application to Central and Eastern Europe," Institute for Policy Reform Archive 294840, Institute for Policy Reform.
    • Handle: RePEc:ags:inpora:294840
    DOI: 10.22004/ag.econ.294840
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    References listed on IDEAS

    as
    1. Philippe Aghion & Oliver D. Hart & John Moore, 1994. "The Economics of Bankruptcy Reform," NBER Chapters, in: The Transition in Eastern Europe, Volume 2, Restructuring, pages 215-244, National Bureau of Economic Research, Inc.
    2. 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, vol. 1(1), pages 116-117, January.
    3. Boot, Arnoud W A & Thakor, Anjan V, 1993. "Self-Interested Bank Regulation," American Economic Review, American Economic Association, vol. 83(2), pages 206-212, May.
    4. Begg, David & Portes, Richard, 1993. "Enterprise debt and financial restructuring in Central and Eastern Europe," European Economic Review, Elsevier, vol. 37(2-3), pages 396-407, April.
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