The Role of Financial Markets in the Transition ProcessEmilio Colombo, John Driffill Financial Markets play an important role in economic development, channeling saving to investments and facilitating growth. In Eastern Europe financial markets were initially much underdeveloped, and lacked the skills and infrastructure they needed to be efficient, having not acquired them in the pre-transition era. The book offers a both theoretical and empirical analysis of financial markets in transitional economies. It investigates financial markets in Hungary, the Czech Republic, and Poland, and their role in the developments in the 1990s. |
Contents
| 1 | |
Conclusions | 38 |
References | 90 |
References | 116 |
VI | 119 |
References | 138 |
References | 153 |
References | 177 |
Financing Patterns in Hungary as Seen from | 198 |
| 224 | |
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The Role of Financial Markets in the Transition Process Emilio Colombo,Edward John Driffill Limited preview - 2003 |
Common terms and phrases
analysis automatic trigger bad loans bank credit bank debt banking sector banking system bankruptcy Bonin borrowers capital accumulation capital flows capital markets capital structure collateral companies costs credit market credit rationing creditors Czech Republic decrease determined distribution domestic banks domestic credit dynamics EBRD effects empirical entrepreneurs equation equilibrium equity European exchange rate factors FDI inflows financial market imperfections firms fixed exchange rate foreign banks Foreign Direct Investment foreign investment foreign partnership function funds growth Hungarian Hungary important income increase inflation initial interest rate internal investors ISBN labour Latvia lenders leverage liberalisation liquidation Lithuania macroeconomic monetary negative OECD ownership paper period Poland positive private sector privatisation problem productivity profitability ratio reform relatively relevant reorganisation restructuring role Schwarz criterion share shareholders short-term stock exchange stock market Table tion total assets transition countries transition economies variables wealth World Bank