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Reconfiguration of banking and capital markets in Eastern Europe

Author: Walter, Ingo ; Saunders, AnthonyINSEAD Area: Economics and Political Science Series: Working Paper ; 91/39/EPS Publisher: Fontainebleau : INSEAD, 1991.Language: EnglishDescription: 41p.Type of document: INSEAD Working Paper Online Access: Click here Abstract: In recent years, the countries of Eastern Europe have made fundamental changes to their financial systems, moving away from centrally planned economies (CAPES) towards Western-style market-oriented systems. In section II of this paper, the stylised model of a financial system in a market-repressed CAPE is briefly surveyed and compared in section III with a benchmark model of a fully liberalised market-driven Western financial system, showing the advantages and disadvantages of various paths from pre-existing financial structures to the market-driven system. Section IV reviews a number of transition issues, and surveys the available evidence on the progress made to date. The conclusions in section V outline the design of a universal banking structure for an emerging market system
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In recent years, the countries of Eastern Europe have made fundamental changes to their financial systems, moving away from centrally planned economies (CAPES) towards Western-style market-oriented systems. In section II of this paper, the stylised model of a financial system in a market-repressed CAPE is briefly surveyed and compared in section III with a benchmark model of a fully liberalised market-driven Western financial system, showing the advantages and disadvantages of various paths from pre-existing financial structures to the market-driven system. Section IV reviews a number of transition issues, and surveys the available evidence on the progress made to date. The conclusions in section V outline the design of a universal banking structure for an emerging market system

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