The scope and nature of privatisation in the financial sector
Janusz J. Tomidajewicz
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Janusz J. Tomidajewicz: Department of Economic and Local Government Policy Poznan University of Economics
Working papers from Financialisation, Economy, Society & Sustainable Development (FESSUD) Project
The processes of financial-system privatisation and commodification in the European countries investigated here took place mostly as a result of changes in the legal and organisational framework for conducting financial activity and as a consequence of individual privatisation decisions taken mainly for macroeconomic reasons. This suggests the predominance of ideological and macroeconomic reasons for the process in Europe. The phenomenon was most clearly visible in CEE countries, although it could also be seen in the privatisation processes taking place in countries of Western Europe. As a result, differences in the subjective and objective scope of financial-sector privatisation in particular European countries should be attributed much more to the influence of ideological reasons – an influence stemming largely from the impact of pressure groups interested in privatisation – than to pressure from the economic determinants of financial activity manifesting themselves in microeconomic reasons for privatisation
Keywords: privatisation; commodification; financial sector; liberalisation (search for similar items in EconPapers)
JEL-codes: L33 G18 E02 (search for similar items in EconPapers)
Pages: 32 pages
New Economics Papers: this item is included in nep-eec, nep-ger and nep-mac
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