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The Development of a Financial Sector in Hungary

Johannes Stephan

Chapter 5 in Economic Transition in Hungary and East Germany, 1999, pp 105-149 from Palgrave Macmillan

Abstract: Abstract In all PSEs facing the tasks of profound economic restructuring and catch-up development, the establishment of a functioning financial sector is of central importance for the emergence of a stable monetary constitution: unless the financial sector is able to offer credibility despite its inherent instabilities, and unless the institutions this sector is comprised of can fulfil their functions in the new system of economic control and governance, the most immediate obstacles to economic development cannot be removed.

Keywords: Monetary Policy; Central Bank; Banking System; Commercial Bank; Large Bank (search for similar items in EconPapers)
Date: 1999
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DOI: 10.1057/9780230596580_5

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