 Financial institutions in transition: the long viewLaszlo Csaba Post-Communist Economies, 2011, vol. 23, issue 1, 1-13 Abstract: This article is an attempt to contribute to the broader debate on growth theory in academic economics on the basis of empirical experience of two decades in transition countries. It analyses whether financial sector reform is urgent and thus should be sequenced from the very outset of transition or, alternatively, is important rather than urgent. If the latter is the case - and in view of the technical sophistication of the task - it should be sequenced later but by no means dodged. The basic questions of the current analysis are that there seems to be a trade-off between the two, and whether or not underdeveloped financial markets are bound to have an unfavourable impact on long-term growth. We then analyse, one by one, the role of monetary and fiscal institutions, exchange rate and tax regimes, as well as capital markets and special SME agencies across the region. Finally we examine whether the model based on foreign strategic ownership of intermediation is dead after the 2007-09 financial meltdown. Date: 2011 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:pocoec:v:23:y:2011:i:1:p:1-13 Ordering information: This journal article can be ordered from DOI: 10.1080/14631377.2011.546991 Access Statistics for this article Post-Communist Economies is currently edited by Roger Clarke More articles in Post-Communist Economies from Taylor & Francis Journals |
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