Banking Reform in Central Europe and the Former Soviet Union

This study analyzes the main requirements placed on Central and Eastern Europe's financial systems during their transition to a market economy. It assesses the financial reforms already carried out in the countries of Central Europe and their adaptations of Western institutional models.

From Berlin to the Bering Strait, the business of banking has sprung to life. This analysis considers the impact of banking reform on macroeconomic stabilization and the suitability of universal banks, the role of banking regulation and the advantages of ''narrow banks'' during transition, the cleaning up of bad debts, and the reform of the payments system.

The book assesses the lessons which can be drawn from reforms in Central Europe for the later reformers in the former Soviet Union and the Balkans. It considers the impact of banking reform on macroeconomic stabilization and the suitability of German-type universal banks; the role of banking regulation and the advantages of ''narrow banks'' during transition; the cleaning-up of bad debts; bank privatization and reform of the payments system. Five chapters follow which review the experience of some of the ''second-wave'' countries: Estonia, Georgia, Romania, Russia and Ukraine.

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