This volume brings together a collection of research papers on financial sector reform and privatization in the transition economies of Eastern Europe and related issues in other transforming economies. It represents a selection of invited papers and best papers presented at various conferences and workshops held in Estonia, Poland and The Netherlands. It is the work of leading scientists, and thereby provides a very authoritative analysis of the ongoing process of financial sector reforms and privatization in transition economies. The main theoretical and emperical issues are carefully brought out to bear on the pressing policy and institutional schemes that are desirable in transition economies.
...The volume represents much high level academic and practitioner knowledge of the transition process in Eastern Europe. Aslib Book Guide
Introduction to the series. Preface and acknowledgements. Notes on the contributors. About the editors. List of exhibits and figures. List of tables. Main issues in financial sector reform and privatization in transition economies: introduction and overview (J. Doukas, V. Murinde, C. Wihlborg). Part One. Micro-Studies of the Financial Sector Banking sector restructuring in transition economies (A. Mullineux). Financial constraints on entrepreneurship in Estonia (V. Vensel, C. Wihlborg). Strategies to develop mortgage markets in transition economies (S. M. Jaffee, B. Renaud). Dividends and conflicts between equityholders and debtholders with weak monitoring: the case of India (S. Gangopadhyay, J.D. Knopf). Part Two. The Financial Sector in the Development of Market Economies Design of financial systems and economic transformation (I. Walter). The regulatory and public policy agenda for effective intermediation in post-socialist economies (A. Santomero). Universal banking: policy issues for emerging market economies (J. Kimball Dietrich, K. Pan, C. Wihlborg). Emerging stock markets: lessons from industrialized country history (R. J. Sweeney). Part Three. The Financial Sector and the Macroeconomy Regulatory change and the allocation of finance: the role of business conglomerates in Chile, 1983-1992 (N. Hermes, R. Lensink). Flow-of-funds and the macroeconomic policy framework for financial restructuring in transition economies (C.J. Green, V. Murinde). Part Four. Privatization and Foreign Investment Privatization in post-communist economies (M.A. Goldstein, N. Bulent Gultekin). Reducing political uncertainty and moral hazard in east-west financial relations (G. Elliason).