Gambling Banks and Firm Financing in Transition Economies

Ranko Jelic, Richard Briston and Chris Mallin
Additional contact information
Ranko Jelic: University of Birmingham, U.K.
Richard Briston: University of Hull, U.K.
Chris Mallin: University of Birmingham, U.K.

Multinational Finance Journal, 1999, vol. 3, issue 4, 253-282

Abstract: A transition from centrally-planned towards market-based economies in Central and Eastern European Countries (CEEC) in the early 1990's, resulted in mass privatisation programmes and the transformation of the state-controlled banks, the main (and sometimes the only) financial intermediaries in those countries. Given the unique institutional background, the focus of this paper is upon answering the following two questions: First, whether, and if so how, the emerging financial structures of firms in transition economies differ from the structures in Western financial markets? Second, what are the factors that affect bank loan supply schedules in transition economies, and to what extent do they differ between the selected countries? Results from data sets for firms in the Czech Republic, Hungary, and Poland suggest lower debt ratios than those reported for the G-7 countries.

Keywords: bank lending; enterprise debt; firm financing; transition economies (search for similar items in EconPapers)
JEL-codes: G10 G14 (search for similar items in EconPapers)
Date: 1999
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:mfj:journl:v:3:y:1999:i:4:p:253-282

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