Synopses & Reviews
While policy makers need to focus on achieving and sustaining basic macroeconomic stability in the transition of economies from a socialist to a market orientation, financial institutions and reforms play a particularly crucial role in this transformation. The essays in this collection offer overviews of issues in banking sector reform and capital markets as well as specific perspectives on the financial sectors in changing economies of Central and Eastern Europe, China, and Israel. Original versions of the essays were presented at the Second Dubrovnik Conference on Transition Economies organized by the National Bank of Croatia in June, 1996.
Review
"...the book Financial Sector Transformation - Lessons from Economics in Transition by M. I. Blejer and M. Skreb could be a valuable source of information in this regard...readers interested in specific issues or country experieces may find the relevant sections worthwhile reading." Journal of Comparative Economics
Synopsis
The essays in this collection offer overviews of issues in banking sector reform and capital markets as well as specific perspectives on the financial sectors in changing economies of Central and Eastern Europe, China, and Israel. Original versions of the essays were presented at the Second Dubrovnik Conference on Transition Economies organized by the National Bank of Croatia in June 1996.
Table of Contents
Introduction: financial reforms and economic transitions: an overview of the major issues Mario I. Blejer and Marko Skreb; Part I. General Studies: 1. Monetary policy during transition: an overview Martha de Melo and Cedvet Denizer; 2. Towards market-oriented banking in the economies of transition John Bonnin and Paul Wachtel; 3. The political economy of banking sector reform in transition Arye L. Hillman and Heinrich W. Ursprung; 4. Macroeconomic influences on transition and financial reforms Willem H. Buiter, Ricardo Lago and Hélene Rey; Part II. Country Studies: 5. Banking crisis in the Baltic state: causes, solutions and lessons; 6. Monetary and exchange rate policy, capital inflows and the structure of the banking system in Croatia Velimir Sonje, Evan Kraft and Thomas Dorsey; 7. Monetary and financial market reform in transition economies: the special case of China Robert A. Mundell; 8. The financial sector and high interest rates: lessons from Slovenia Velimir Bole; 9. Bank rehabilitation in Slovenia: with emphasis on Nova Ljubljanska Banka Franjo Stiblar; 10. Liberalization and financial reforms: lessons from the Israeli experience Jacob A. Frenkel; Part III. Afterword: 11. The financial sector in transition: an afterword Mario I. Blejer.