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Banking Transformation (1989 - 2006) in Central and Eastern Europe - With Special Reference to Balkans

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  • Stephan Barisitz

    () (Oesterreichische Nationalbank)

Abstract

This paper provides an overview of the history of banking transition (1989-2006) in 13 CEE countries – with particular emphasis on four relatively large Balkan countries (Bulgaria, Croatia, Romania, Serbia and Montenegro). Two “banking reform waves” are distinguished, salient features of which all countries (need to) run through in order to mature. The first reform wave focuses on liberalization measures; the second wave mostly consists of restructuring/institutional adjustment. Western European FDI has come to dominate banking in most countries, including those of the Balkans. Recently, credit booms have unfolded, which, while constituting structural catchingup phenomena, are not without risks. Insufficient rule of law remains widespread.

Suggested Citation

  • Stephan Barisitz, 2008. "Banking Transformation (1989 - 2006) in Central and Eastern Europe - With Special Reference to Balkans," Working Papers 78, Bank of Greece.
  • Handle: RePEc:bog:wpaper:78
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    References listed on IDEAS

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    Cited by:

    1. Dimiter Ialnazov & Nikolay Nenovsky, 2010. "The evolution of post-communist countries: An interpretation from the perspective of cooperation," ICER Working Papers 03-2010, ICER - International Centre for Economic Research.

    More about this item

    Keywords

    Banking crisis; Banking transformation; Credit boom; FDI; Institutional reforms; Liberalization; Privatization; Structural reforms;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • P34 - Economic Systems - - Socialist Institutions and Their Transitions - - - Finance

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