Financial Transition In Europe And Central Asia
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Financial Transition In Europe And Central Asia
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Author : Alexander Fleming
language : en
Publisher: World Bank Publications
Release Date : 2001-01-01
Financial Transition In Europe And Central Asia written by Alexander Fleming 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 2001-01-01 with Business & Economics categories.
This book contains 21 papers focusing on a wide range of issues concerning financial sector transition in the countries of Europe and Central Asia (ECA). It places the transition economies in the context of recent and prospective developments in global financial markets. This book also evaluates the experience of the last 10 years and reviews the progress from a command financial system to a market-based one, identifying some of the key characteristics of the financial transition.
Financial Systems In Transition
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Author : Alexander E Fleming
language : en
Publisher: World Scientific
Release Date : 2000-08-21
Financial Systems In Transition written by Alexander E Fleming and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-08-21 with Business & Economics categories.
It is now ten years since the former Soviet Union collapses and the countries of Europe and Central Asia abandoned central planning. Enough experience has accumulated to allow a more reflective study of the transition period. One of the most critical elements of the transition to a market-based economy has been the establishment of the institutions and markets that constitute a financial system. This book examines financial transition through the lens of flow of funds accounts. These accounts have been used in the OECD countries for many years as an aid in analyzing money flows around their financial systems. This is the first time, however, that an attempt has been made to interpret financial transition from this perspective and it has yielded what the authors consider to be new, useful insights into the processes. The book reviews the evolution of financial systems in eight transition countries: Estonia, Hungary, Kazakhstan, Latvia, Lithuania, Poland, Russia, and Romania. Each chapter draws upon a flow of funds analysis to illuminate the relationship between macroeconomic performance and the evolving pattern of financial flows through the emerging markets and institutions. The introductory chapter discusses the nature of the flow of funds approach and its applicability to transition economies, while another chapter compares and contrasts the macroeconomic and financial performances of the eight countries by focusing on the orientation of sectoral imbalances within each economy and the nature of financing flows associated with them. Contents:The Flow of Funds in a Transition Context (A E Fleming & M M Giugale)The Evolution of Financial Systems in Eastern Europe and Central Asia: An Overview Through the Lens of the Flow of Funds (M M Giugale & A E Fleming)Kazakhstan — Financing Imbalances in a Resource Rich Economy (J Dawson & S Everhart)Romania — Dealing with the Twin Deficit (S J Peachey)Hungary — Tapping Resilient Household Savers (A Kerekes)Russia — A National Unwillingness to Pay for Government (J A Holsen)Estonia — When the Problem is the Private Sector (S J Peachey)Latvia — Finely Balanced for Growth (S J Peachey)Poland — Toward a Sustainable Financing Structure (W M Orlowski)Lithuania — The Persistent Dependency on the State (J Dawson & S Everhart) Readership: Policymakers, practitioners and academicians dealing with economic development, finance and transition issues. Keywords:
Financial Systems In Transition
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Author : Alexander Fleming
language : en
Publisher: World Scientific
Release Date : 2000
Financial Systems In Transition written by Alexander Fleming and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
It is now ten years since the former Soviet Union collapses and the countries of Europe and Central Asia abandoned central planning. Enough experience has accumulated to allow a more reflective study of the transition period. One of the most critical elements of the transition to a market-based economy has been the establishment of the institutions and markets that constitute a financial system. This book examines financial transition through the lens of flow of funds accounts. These accounts have been used in the OECD countries for many years as an aid in analyzing money flows around their financial systems. This is the first time, however, that an attempt has been made to interpret financial transition from this perspective and it has yielded what the authors consider to be new, useful insights into the processes.The book reviews the evolution of financial systems in eight transition countries: Estonia, Hungary, Kazakhstan, Latvia, Lithuania, Poland, Russia, and Romania. Each chapter draws upon a flow of funds analysis to illuminate the relationship between macroeconomic performance and the evolving pattern of financial flows through the emerging markets and institutions. The introductory chapter discusses the nature of the flow of funds approach and its applicability to transition economies, while another chapter compares and contrasts the macroeconomic and financial performances of the eight countries by focusing on the orientation of sectoral imbalances within each economy and the nature of financing flows associated with them.
Fiscal Policy And Economic Growth
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Author : Cheryl Williamson Gray
language : en
Publisher: World Bank Publications
Release Date : 2007
Fiscal Policy And Economic Growth written by Cheryl Williamson Gray 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 2007 with Political Science categories.
Worldwide experience highlights public finance policies that promote economic growth while meeting the need for fundamental public goods. Macroeconomic stability is essential, as large budget deficits retard growth, followed by moderate levels of public spending - around one-third of GDP or less - especially when governance and public administration are weak; that in turn requires efficiency, particularly in areas such as infrastructure, health, education, and social protection; finally, lower income and payroll tax rates can spur investment and employment. The Eastern European and Central Asia countries pioneered flat income taxes without generally suffering revenue losses as a result, but they have not addressed the problem of high payroll taxes and still face many hurdles in improving the efficiency and effectiveness of public spending and revenue generation.
Accounting And Financial System Reform In Eastern Europe And Asia
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Author : Robert W. McGee
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-03-14
Accounting And Financial System Reform In Eastern Europe And Asia written by Robert W. McGee 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 2006-03-14 with Business & Economics categories.
Much has been written about the economic and political problems of countries that are in the process of changing from centrally planned systems to market systems. Most studies have focused on the economic, legal, political and sociological problems these economies have had to face during the transition period. However, not much has been written about the dramatic changes that have to be made to the accounting and financial system of a transition economy. This book was written to help fill that gap. This book is the second in a series to examine accounting and financial system reform in transition economies. The first book used Russia as a case study. The present volume in the series examines some additional aspects of the reform in Russia and also looks at the accounting and financial system reform efforts that are being made in Ukraine, Bosnia & Herzegovina, Armenia and five Central Asian republics.
Challenges To Enterprise Performance In The Face Of The Financial Crisis
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Author :
language : en
Publisher: World Bank Publications
Release Date : 2011-06-10
Challenges To Enterprise Performance In The Face Of The Financial Crisis written by 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 2011-06-10 with Business & Economics categories.
This report addresses the core components of enterprise activity, namely, the factors of production and the public infrastructure to support them. In the period just before the financial crisis, a number of elements, such as access to finance, skills and education of labor, and infrastructure emerged as important obstacles to enterprise growth. The aggregate level of enterprise activity and its productivity largely depend on the availability and quality of these components. The relative importance of these obstacles has evolved over time, reflecting structural reforms and progress in improving the business environment. Some of these constraints may have eased because of the crisis, but their presence during a period of economic growth suggests that there are important, unfinished structural reforms among countries in the ECA region. This report explores the impact of these constraints on firm performance in 29 Eastern European and Central Asian countries. The results show that enterprises in the region face varying levels of pressure depending on their features, location, resources directly accessible to them, and characteristics of country governance and regulatory frameworks. The report takes stock of enterprise sector performance along these three key dimensions near the end of two decades of the transition process. It is therefore critical to understand where firms in these countries stand now in terms of their relative access to finance, labor markets and quality of labor, and infrastructure capacity.
Igniting Innovation
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Author : Itzhak Goldberg
language : en
Publisher: World Bank Publications
Release Date : 2011-09-22
Igniting Innovation written by Itzhak Goldberg 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 2011-09-22 with Technology & Engineering categories.
Innovation and technology absorption are now firmly recognized as one of the main sources of economic growth for emerging and advanced economies alike. International R&D collaboration and FDI are critical and require government support programs, specially financial ones.
Rural Development Strategy
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Author : Csaba Csáki
language : en
Publisher: World Bank Publications
Release Date : 2000-01-01
Rural Development Strategy written by Csaba Csáki 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 2000-01-01 with Business & Economics categories.
With the larger role that the agricultural sector plays in the Eastern Europe and Central Asian (ECA) region, emphasis must be placed on the sector's sustained growth and prosperity. The Bank strategy for rural development in the ECA region during the early phase of transition emphasized the reform of agricultural policies and assistance in privatizing, restructuring, and rebuilding agriculture and agro-industrial complexes. In retrospect, it can be seen that the ECA countries concerned made the right choice when they set their objective to transform their socialized agriculture into a private-ownership and market-based system. Given the developments of the past decade, it is clear, however, that the initial expectations for the outcomes of such reforms were overly optimistic. The transition process in agriculture is far more complex than originally envisaged by both the countries themselves and the international community, including the Bank. Increased social problems and alarming growth of poverty have added a new, unexpected, dimension to the transition process. As the analysis indicates, the region's rural economy is still struggling to adjust to new economic realities, and this will require further refinement and adjustment of the Bank's approach as well. This volume, based on an overview of recent regional developments, summarizes the revised World Bank assistance strategy for rural development in the ECA region.
Risks And Returns
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Author : David Michael Gould
language : en
Publisher: World Bank Publications
Release Date : 2017-01-27
Risks And Returns written by David Michael Gould 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 2017-01-27 with Business & Economics categories.
During the 1990s, Emerging Europe and Central Asia (ECA) opted for a model of rapid financial development focused on bank credit expansion often funded by foreign capital. This model helped boost the financial inclusion of firms and households, but was also accompanied by lower financial efficiency and increased vulnerability to banking crises. The need for financial sector reforms has become more urgent as stagnating income growth, particularly of middle- to lower-income earners, is leading to increased dissatisfaction with the status quo of low productivity growth and limited access to opportunities. This demand for change can be the impetus for rebalancing financial policies to support higher and more inclusive growth. A healthy and balanced financial sector is needed to support structural adjustment in the oil dependent economies of the eastern side ECA and greater innovation in the countries of the western part of ECA. This report argues that financial development must reach beyond increasing access to credit. ECA countries should strive to build balanced financial systems integrating both bank and non-bank markets, enabling prudent financial inclusion. Most importantly, ECA falls significantly behind other world regions in the use of saving products. Striking the right balance across all dimensions of financial development (stability, efficiency, inclusion, and overall depth) is crucial for achieving and sustaining inclusive growth.
Igniting Innovation
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Author : Itzhak Goldberg
language : en
Publisher: World Bank Publications
Release Date : 2011-09-22
Igniting Innovation written by Itzhak Goldberg 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 2011-09-22 with Technology & Engineering categories.
Innovation and technology absorption are now firmly recognized as one of the main sources of economic growth for emerging and advanced economies alike. International R&D collaboration and FDI are critical and require government support programs, specially financial ones.