The Financial System in the Czech Republic, Hungary and Poland after a Decade of Transition

Arbeitspapier

The Czech Republic, Hungary and Poland (CEEC-3) have undertaken substantial efforts to build a new financial system under the constraints of their legacies from central planning. In this study, first we look at the banking sector. Then we give a description of bond and stock markets. These topics are complemented by an analysis of the structure of funding for the private and public sector, of the financial sector's vulnerability and of the legal conditions for external finance as well as for banking supervision. We find that the financial sector and financial intermediation are internationally integrated already to a large extent. This implies, inter alia, a non-negligible exposure of the corporate sector to exchange rate risk. While funding via equity markets remained modest, local currencydenominated debt issues are important for public financing. Our analysis shows that the legal, supervisory and regulatory infrastructure of the financial system is formally well developed, but suffers from enforcement problems.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Discussion Paper Series 1 ; No. 2001,16

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Financial Economics: General ; Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance ; Comparative Studies of Countries ; Comparative Studies of Particular Economies
• Thema: Financial System in Czech Republic ; Hungary and Poland ; Financial Sector Transition ; Transition Economics ; Finanzsektor ; Bankensystem ; Übergangswirtschaft ; Finanzierung ; Tschechische Republik ; Ungarn ; Polen

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Schardax, Franz ; Reininger, Thomas ; Summer, Martin
• Ereignis: Veröffentlichung
• (wer): Deutsche Bundesbank
• (wo): Frankfurt a. M.
• (wann): 2001

Weitere Informationen

• Handle: http://hdl.handle.net/10419/19553
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ