Banking in transition countries

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Title: Banking in transition countries
Author: Bonin, John ; Hasan, Iftekhar ; Wachtel, Paul
Organization: Bank of Finland
Department / Unit: Institute for Economies in Transition (BOFIT)
Series: BOFIT Discussion Papers
Series number: 12/2008
Year of publication: 2008
Publication date: 25.8.2008
Pages: 32 s.
Keywords: pankkitoiminta; siirtymätaloudet; kehitys; luotonanto; ulkomaiset pankit; valvonta; yksityistäminen; Bofit-kokoelma
JEL: G21; P30; P34; P52
Abstract: Modern banking institutions were virtually non-existent in the planned economies of cen-tral Europe and the former Soviet Union. In the early transition period, banking sectors began to develop during several years of macroeconomic decline and turbulence accompa-nied by repeated bank crises. However, governments in many transition countries learned from these tumultuous experiences and eventually dealt successfully with the accumulated bad loans and lack of strong bank regulation. In addition, rapid progress in bank privatiza-tion and consolidation took place in the late 1990s and early 2000s, usually with the partic-ipation of foreign banks. By 2005, the banking sectors in many transition countries had developed sufficiently to provide a wide range of services with solid bank performance. Recently, banks have switched their focus from lending to enterprises in a somewhat un-derdeveloped institutional environment to new collateralized lending to households, which accounts for much of the recent growth of credit in many transition countries. Keywords: transition banking, bank privatization, foreign banks, bank regulation, credit growth. JEL codes: G21, P30, P34, P52
Note: Katso myös DP 8/2014.

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