EconPapers    
Economics at your fingertips  
 

A stages approach to banking development in transition economies

Sheila Dow, Dipak Ghosh () and Kobil Ruziev ()

Journal of Post Keynesian Economics, 2008, vol. 31, issue 1, 3-33

Abstract: Credit shortages are widely thought to explain the output contraction in former Soviet Union (FSU) countries during the 1990s. It is argued here that these shortages were the result of an ahistorical approach to policymaking which ignored the time needed for the establishment and further development of money, banking, and nonbanking financial institutions. Starting from Chick's stages-of-banking-development framework, we examine the experience of the FSU economies in transition from central planning. We then develop a fivephase framework to characterize the process of banking development required for them to reach stage two of Chick's framework, where bank liabilities are accepted as money.

Keywords: banking development; FSU countries; money; trust (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://mesharpe.metapress.com/link.asp?target=contribution&id=50207K126W238674 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mes:postke:v:31:y:2008:i:1:p:3-33

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/MPKE20

Access Statistics for this article

More articles in Journal of Post Keynesian Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

 
Page updated 2022-12-01
Handle: RePEc:mes:postke:v:31:y:2008:i:1:p:3-33