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Lessons from Bank Privatization in Central Europe

  • John Bonin
  • Paul Wachtel
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    In the three fast track, Central European transition countries, Hungary, Poland and the Czech Republic, bank restructuring and privatization involved different approaches and met with a variety of outcomes. Hence, these experiences in otherwise similar transition economies provide important lessons for bank privatization in other transition countries and in developing economies. If an independent market-oriented banking sector is the overriding goal, three fundamental conclusions emerge. First, bank restructuring and privatization must be sequenced carefully to create the appropriate incentives for lending on a commercial basis only in the future. Second, privatization requires a credible transfer of proper corporate culture is most easily established by attracting a strategic investor, preferably a foreign financial institution.

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    File URL: http://www.wdi.umich.edu/files/Publications/WorkingPapers/wp245.pdf
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    Paper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number 245.

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    Length: pages
    Date of creation: 01 May 1999
    Date of revision:
    Handle: RePEc:wdi:papers:1999-245
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