Abstract

http://ssrn.com/abstract=703441
 
 

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Central European Banks and Stock Exchanges: Capacity-building and Institutional Development


Gerhard Fink


IACCM International Association for Cross Cultural Competence and Management

Peter R. Haiss


WU Vienna University of Economics and Business; UniCredit Bank Austria; IES Vienna - Institute for the International Education of Students

Lucjan T. Orlowski


Sacred Heart University - John F. Welch College of Business

Dominick Salvatore


Fordham University - Department of Economics


European Management Journal, Vol. 16, No. 4, pp. 431-446, August 1998

Abstract:     
This paper analyses capacity building and institutional development in the banking and capital market sectors of formerly planned economies in Central and Eastern Europe. While the existing literature mostly addresses the specific situation of banks and capital markets in a particular country or for a few countries of the region only, this paper identifies common institutional and structural problems of all 10 Central European applicant countries for EU membership. Given the strong tendencies towards imprudent banking, the small size of the financial markets, asymmetric information, inadequate capitalization and insufficient supervision, privatization of the large former state owned banks may require strong equity involvement of foreign banks and international institutions like the European Bank for Reconstruction and Development (EBRD), which reduce the risk for foreign investors by providing guarantees and securing more reliable banking policies of the respective governments.

Keywords: transition, bank privatization, Central and Eastern European countries

JEL Classification: P21, P30

Accepted Paper Series


Not Available For Download

Date posted: April 20, 2005  

Suggested Citation

Fink, Gerhard and Haiss, Peter R. and Orlowski, Lucjan T. and Salvatore, Dominick, Central European Banks and Stock Exchanges: Capacity-building and Institutional Development. European Management Journal, Vol. 16, No. 4, pp. 431-446, August 1998. Available at SSRN: http://ssrn.com/abstract=703441

Contact Information

Gerhard Fink
IACCM International Association for Cross Cultural Competence and Management ( email )
IACCM c/o ivm WU-Wien
Althanstrasse 51, 4. Stock
A-1090 Vienna
Austria
+43/1/313364553 (Phone)
+43/1/3133690724 (Fax)
Peter R. Haiss
WU Vienna University of Economics and Business ( email )
Institute for Export Management
Welthandelsplatz 1
Vienna, A-1020
Austria
++43-664 812 29 90 (Phone)
++43-50505 8944214 (Fax)
UniCredit Bank Austria ( email )
Schottengasse 6-8
Vienna, A-1010
Austria
++43-(0)50505 44214 (Phone)
++43-(0)50505 89 44214 (Fax)
HOME PAGE: http://www.bankaustria.com
IES Vienna - Institute for the International Education of Students
Johannesgasse 7
Vienna, A-1010
Austria
Lucjan T. Orlowski (Contact Author)
Sacred Heart University - John F. Welch College of Business ( email )
5151 Park Avenue
Fairfield, CT 06825
United States
203-371-7858 (Phone)
HOME PAGE: http://www.sacredheart.edu/ltorlowski.cfm
Dominick Salvatore
Fordham University - Department of Economics ( email )
Bronx, NY 10458
United States
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