The Role Of Commercial Banks In Enterprised Restructuring In Central And Eastern Europe
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The Role Of Commercial Banks In Enterprise Restructuring In Central And Eastern Europe
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Author : Millard Long
language : en
Publisher:
Release Date : 1999
The Role Of Commercial Banks In Enterprise Restructuring In Central And Eastern Europe written by Millard Long and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
February 1995 In Central and Eastern Europe, banks are less active than planned in enterprise restructuring. Corporate restructuring is not normally a major part of commercial banking -- to ask banks to restructure their weakest clients is to direct attention away from lending to their strongest clients, which should be their core business. Enterprises are thus being restructured not by banks or government agencies but by brutal market forces. Many countries in Central and Eastern Europe assigned banks the responsibility for restructuring enterprises. Such restructuring had five components: * Triage of enterprises into three classes: viable, viable with debt relief, and nonviable. * Work with management of overindebted firms on a restructuring plan beforegranting debt relief. * Trigger the bankruptcy-liquidation process on nonviable firms. * Fund new investments needed as part of physical restructuring. * Provide corporate governance through representation on boards of directors. The initial information is that banks are performing these roles only to a limited degree. Signals are mixed on how vigorously governments want banks to pursue bankruptcy proceedings. With little opportunity to recover funds, banks are accepting even dubious restructuring programs from enterprises. But banks, except under government directive, are avoiding making new loans to loss-making enterprises. Together with a cut in fiscal subsidies, this is imposing a harder budget constraint on the enterprises. Nonviable enterprises seem more likely to starve to death than to die through execution. Corporate restructuring is not a normal part of commercial banking. To ask banks to restructure weak enterprises is to direct their attention away from what should be their core business: lending to strong enterprises. In fact, banks are under attack for being excessively conservative. Enterprise restructuring is taking place in Central and Eastern Europe driven by the disintegration of regional trade relations, sharply higher input prices, falling domestic demand, inflation, and other economic dislocations in combination with the harder budget constraint. Thus far the restructuring has been more downsizing than making new investments. This paper -- a product of the Financial Sector Policy and Institutions Unit, Financial Sector Development Department -- is part of a larger effort in the department to study the role of banks in restructuring.
The Role Of Commercial Banks In Enterprised Restructuring In Central And Eastern Europe
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Author : Millard Long
language : en
Publisher: World Bank Publications
Release Date : 1995
The Role Of Commercial Banks In Enterprised Restructuring In Central And Eastern Europe written by Millard Long and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Bancos comerciales - Europa categories.
Banks Capital Markets And Corporate Governance
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Author : Gerhard Pohl
language : en
Publisher: World Bank Publications
Release Date : 1994
Banks Capital Markets And Corporate Governance written by Gerhard Pohl and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Europa oriental - Sector financiero categories.
Eastern Europe S Experience With Banking Reform
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Author : Alfredo E. Thorne
language : en
Publisher: World Bank Publications
Release Date : 1993
Eastern Europe S Experience With Banking Reform written by Alfredo E. Thorne and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Banks and banking categories.
The effectiveness of banks in the transition depends on how soon authorities begin to restructure the banking system and how that restructuring fits into the sequence with enterprise restructuring and privatization.
The Transition In Central And Eastern Europe And The Former Soviet Union
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Author : Kemal Dervis
language : en
Publisher: Washington, D.C. : World Bank
Release Date : 1994
The Transition In Central And Eastern Europe And The Former Soviet Union written by Kemal Dervis and has been published by Washington, D.C. : World Bank this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Business & Economics categories.
Enterprise Reform In Eastern Europe
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Author : Sweder van Wijnbergen
language : en
Publisher: World Bank Publications
Release Date : 1993
Enterprise Reform In Eastern Europe written by Sweder van Wijnbergen and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Europe, Eastern categories.
Applying Western textbook solutions to the problems of enterprise reform in Eastern Europe is likely to be counterproductive. Policy design must be imaginative and explicitly incorporate the political constraints and incentive problems specific to the region, leading to new approaches to enterprise and banking reform.
Financial Reform In Central And Eastern Europe
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Author : A. W. Mullineux
language : en
Publisher: Nova Publishers
Release Date : 1996
Financial Reform In Central And Eastern Europe written by A. W. Mullineux and has been published by Nova Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
This book contains 3 major sections: 1: Monetary and Exchange Rate Policies in Poland and the ex-CSFR; 2: The Banking Sector and Enterprise Restructuring, including Privatisation and Hardening of Budget Constraints and the Micro Level; and 3: Bank Regulatory and Supervisory Issues.
Bank Restructuring And Enterprise Reform
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Author : Sweder van Wijnbergen
language : en
Publisher:
Release Date : 1998
Bank Restructuring And Enterprise Reform written by Sweder van Wijnbergen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Banks and banking categories.
The fact that enterprise reform and bank restructuring in eastern Europe are two intricately intertwined problems is by now abundantly clear and well documented. Firms in distress stop servicing their loans, and non-performing loans are at the root of the commercial banks' troubles. In turn, failure by unreformed banks to enforce loan contracts adequately gives firms incentives for lax loan servicing, completing the circle of causality. In this paper we set the stage by first outlining the arguments for and against the various approaches. We then discuss in particular the novel approach, implemented mostly in Poland, but use the Hungary and Slovenia evidence to put some of the key results in perspective and give some impression of how alternatives might have fared. Subscribe to publications email alerts.
The New Europe Evolving Economic And Financial Systems In East And West
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Author : D.E. Fair
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
The New Europe Evolving Economic And Financial Systems In East And West written by D.E. Fair and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
The papers collected in this volume are those presented at the seventeenth Collo quium arranged by the Societe Universitaire Europeenne de Recherches Financieres (SUERF), which took place in Berlin in October 1992. The Society is supported by a large number of central banks and commercial banks, by other fmancial and business institutions and by personal subscriptions from academics and others interested in monetary and fmancial problems. Since its establishment in 1963, it has developed as a forum for the exchange of information, research results and ideas among academics and practitioners in these fields, including central bank officials and civil servants responsible for formulating and applying monetary and financial policies, national and international. A major activity of SUERF is to organise and conduct Colloquia on subjects of topical interest to its members. The titles, places and dates of previous Colloqu~ for which volumes of the collected papers were published are noted on the last page of this volume.
Economic Performance And Financial Sector Reform In Central And Eastern Europe
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Author : A. W. Mullineux
language : en
Publisher: Edward Elgar Publishing
Release Date : 1999
Economic Performance And Financial Sector Reform In Central And Eastern Europe written by A. W. Mullineux and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Banks and banking categories.
Papers from a September 1996 conference held in Tallinn, Estonia, examine progress made on macroeconomic stabilization and financial sector reform in the transition economies of Central and Eastern Europe. They relate microeconomic experiences to the broader macroeconomic context of reform, and emphasize that macro reform is underpinned by micro and institutional reform, especially in the financial sphere. Subjects include bank and enterprise restructuring and implications for corporate governance and company performance, and the performance of fixed exchange rate regimes in the post- stabilization phase of transition. Annotation copyrighted by Book News, Inc., Portland, OR