The Emergence of Financial Markets in Transition: The Czech Experience
The study is focused on the first five years of development of well- functioning financial markets that was an important part of economic transition. The Czech experience is used to gain an insight into the complexity of the process of their emergence. Major players on the Czech financial markets are described. Specifically, the role of the central bank, the government sector and the state-owned banking sector in the process of financial markets emergence is analyzed. Then the structure and depth of the Czech financial markets together with reasons of their emergence is reviewed. The study concludes with emphasizing several lessons from the Czech experience. For example, the strategy of slower financial liberalization and of providing fewer licenses at the beginning of transition is recommended.
|Date of creation:||11 Apr 2003|
|Date of revision:|
|Note:||Type of Document - ; pages: 48 . IE CNB Working paper 1996/59|
|Contact details of provider:|| Web page: http://econwpa.repec.org|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Joseph E. Stiglitz, 1989. "Markets and Development," NBER Working Papers 2961, National Bureau of Economic Research, Inc.
- Corbett, Jenny & Mayer, Colin, 1991.
"Financial Reform in Eastern Europe: Progress with the Wrong Model,"
Oxford Review of Economic Policy,
Oxford University Press, vol. 7(4), pages 57-75, Winter.
- Corbett, Jennifer & Mayer, Colin, 1991. "Financial Reform in Eastern Europe: Progress With the Wrong Model," CEPR Discussion Papers 603, C.E.P.R. Discussion Papers.
- Ben S. Bernanke & Alan S. Blinder, 1988.
"Credit, Money, and Aggregate Demand,"
NBER Working Papers
2534, National Bureau of Economic Research, Inc.
- L. Wade, 1988. "Review," Public Choice, Springer, vol. 58(1), pages 99-100, July.
- Bernhard Fischer & Helmut Reisen, 1992. "Towards Capital Account Convertibility," OECD Development Centre Policy Briefs 4, OECD Publishing.
- 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.
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpma:0304005. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA)
If references are entirely missing, you can add them using this form.