State-Owned Banks from Romania

17 Pages Posted: 22 Oct 2012

See all articles by Ramona Dumitriu

Ramona Dumitriu

University Dunarea De Jos Galati

Razvan Stefanescu

University Dunarea De Jos Galati

Costel Nistor

University Dunarea de Jos Galati

Date Written: October 21, 2012

Abstract

In Romania, as in many Central and Eastern Europe countries, during the communist regime all the banks were owned by the state and their activities were circumscribed by rigid norms. After the communist regime had fallen, the state owned banks had to adapt to a competitive environment. The management inefficiency, the political interests and the corruption led some of these banks to critical situations. Such circumstances convinced Romanian authorities to privatize the banks owned by state. From the seven state-owned banks that activated in the 1990s in Romania, one had to be closed, four were privatized and two are still in the state propriety. In this paper we approach some turning points in the evolutions of these banks. We also try to configure the future of the remained state-owned banks.

Keywords: Ownership of Banks, Transition, Political Interests, Corruption, Privatization

JEL Classification: G18, G21, G32, L33, P34

Suggested Citation

Dumitriu, Ramona and Stefanescu, Razvan and Nistor, Costel, State-Owned Banks from Romania (October 21, 2012). Available at SSRN: https://ssrn.com/abstract=2165040 or http://dx.doi.org/10.2139/ssrn.2165040

Ramona Dumitriu (Contact Author)

University Dunarea De Jos Galati ( email )

Romania

Razvan Stefanescu

University Dunarea De Jos Galati ( email )

Str. Domnească, nr. 47
Galati, 800008
Romania

Costel Nistor

University Dunarea de Jos Galati ( email )

Galati, 800001
Romania

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