Financial Reform in Central and Eastern Europe

1. Front Matter

   Pages i-x

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2. Introduction and Non-Banking Financial Flows

   1. Front Matter

      Pages 1-1

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   2. Introductory Framework

      • Stephany Griffith-Jones

      Pages 3-15

   3. Non-Banking Financial Sector and the Link to Foreign Investment

      • Zdeněk Drábek

      Pages 17-63

3. Case-Studies

   1. Front Matter

      Pages 65-65

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   2. Key Issues in Czech and Slovak Banking: A Central Banker’s Perspective

      • Miroslav Kerouš

      Pages 67-91

   3. Capital Accumulation for Long-Term Economic Growth in the Czech Republic

      • Jan Klacek

      Pages 93-104

   4. Problems of Financing Small and Medium-Sized Enterprises in the Czech Republic

      • Oldřich Dědek

      Pages 105-125

   5. Development of the Financial Sector in Hungary During the Transition Period

      • Rezsö Nyers, Gabriella Rosta Lutz

      Pages 127-150

   6. Financial Sector Development and Macroeconomic Policy in Poland in 1990–3

      • Tadeusz Lamacz

      Pages 151-176

4. Lessons from Developing Countries

   1. Front Matter

      Pages 177-177

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   2. Financial Liberalisation, Growth and Adjustment: Some Lessons from Developing Countries

      • Rob Vos

      Pages 179-220

5. Conclusions and Policy Implications

   1. Front Matter

      Pages 221-221

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   2. Financial Sector Development in Central and Eastern Europe: Conclusions

      • Stephany Griffith-Jones, E. V. K. FitzGerald

      Pages 223-246

6. Back Matter

   Pages 247-256

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The book examines in depth the progress of reform in the banking sector in Eastern Europe - which is a key element in its transition to the market. Particular emphasis is placed on the problem of bad debts owed by companies to banks, and on criteria and options for overcoming this serious problem. The book also analyses the recent development of capital markets in Eastern Europe, their role in attracting foreign capital flows and the limitations to the development of those markets and suggests how to overcome them. Based on analysis by senior policy-makers and academics from the region , the book focuses on four countries: the former Czechoslovakia (now the Czech and Slovak Republics), Hungary and Poland.

• banking
• capital market
• economic growth
• economic policy
• growth
• investment
• macroeconomics

• Institute of Development Studies, Sussex University, UK

  Stephany Griffith-Jones

• Czech National Bank, Prague, Czech Republic

  Zdeněk Drábek

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