Economic Transformation and the Reform of the Financial System in Central and Eastern Europe

Istvan P Szekely

No 816, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: The paper investigates those aspects of economic transformation and long-term economic development where financial institutions can and should make a contribution. It also investigates the financial services industry as a sector and tries to point out the conditions which can enable financial firms to perform these tasks properly. Banks, or any other financial firms, will become competitive and innovative only if the market conditions force them to do so. On the other hand, they will be unable to compete if they themselves do not have proper access to resources, production technologies and the appropriate infrastructure, and a supportive legal environment to carry out the necessary product and technology innovation.

Keywords: Eastern Europe; Economic Transformation; Financial Reforms (search for similar items in EconPapers)
JEL-codes: G21 P34 (search for similar items in EconPapers)
Date: 1993-07
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Citations: View citations in EconPapers (3)

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