Institutional Changes in Financial Systems of Poland and the Czech Republic

• Authors: Joanna Romaniuk , Anna Sznajderska
• Languages of publication: EN

Abstracts

EN

Over the past 23 years the financial sectors in both Poland and the Czech Republic have changed beyond recognition. The process of transformation was a tough and challenging task in both countries. There were significant differences in the initial conditions, as well as approaches to the transformation process, in Poland and the Czech Republic. It seems that according to the classification of Knell and Srholec (2005), the two countries represent different types of capitalism. In this article we try to demonstrate that the organization and development level of the financial systems in these seemingly similar countries are different as well. The primary objective of the study is to compare the path of development and today’s performance of the financial systems in Poland and in the Czech Republic.

• Publisher: Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
• Journal: Comparative Economic Research. Central and Eastern Europe
• Year: 2013
• Volume: 16
• Issue: 1
• Pages: 123-142

Dates

published

2013-03-01

online

2013-04-30

Contributors

author

Joanna Romaniuk

• Warsaw School of Economics, Institute of Statistics and Demography Event History Analysis and Multilevel Analysis Unit

author

Anna Sznajderska

• Warsaw School of Economics, Collegium of World Economy

References

• Babicky V. (2011), The international banking crisis and domestic financial intermediation in theCzech Republic, ‘The global crisis and financial intermediation in emerging market economies’, Bank for International Settlements , Basel, vol. 54
• Bekaert G., Harvey C., Lundblad C. (2001), Emerging equity markets and economic development, ‘Journal of Development Economics’, Vol. 66, No. 2
• Belka M. (2001), Lessons from Polish Transition, ‘Finance a uver’, Vol. 51, No. 4
• Claessens S., Djankov S., and Klingebiel D. (2000), Stock Markets in Transition Economies, ‘Financial Sector Discussion Paper’ No. 5, The World Bank, September
• Colombo E., Stanca L. (2006), Financial Market Imperfections and Corporate Decisions, Lessonsfrom the Transition Process in Hungary, ‘Physica - Verlag’, Springer Company
• Daniluk D., Niemierka S. (2005), Nadzór bankowy w Polsce (Bank Supervision in Poland), ‘Bank i Kredyt’ No. 9
• Demchuk O., Łyziak T., Przystupa J., Sznajderska A., Wróbel E. (2012), Monetary policytransmission mechanism. What do we know in 2012?, ‘NBP Working Papers’, No. 116
• Dobrinsky R., Hesse D., Traeger R., (2006), Understanding the long term growth performance ofthe East Europeans and CIS Economies, ‘Discussion Paper Series’, No. 9, United Nations Economic Commission for Europe
• Ganley J. (2002), Surplus liquidity: implications for central banks, Lecture Series 3, Bank of England
• Glaeser E., Johnson S., Shleifer A. (2001), Coase versus the Coasians, ‘Quarterly Journal of Economics’, No. 116
• Hall P., Soskice D. (2001), Varieties of Capitalism. The Institutional Foundations of ComparativeAdvantage, Oxford University Press, Oxford
• IMF (2000), IMF World Economic Outlook, International Monetary Fund, Washington D.C., October
• Knell M., Srholec M. (2005), Emerging Varieties of Capitalism in Central and Eastern Europe, Proceedings from the Varieties of Capitalism Conference, University of Paisley, September
• Kowalewski O., Rybinski K. (2011), The hidden transformation: the changing role of the stateafter the collapse of communism in Central and Eastern Europe, ‘Oxford Review of Economic Policy’, Oxford University Press, Vol. 27 (4)[Crossref]
• Kowalski T. (2009), Comparative analysis of economic transformation in Poland and selectedcentral European countries, ‘Poznan-Atlanta MBA Working Papers in Management, Finance and Economics’, No. 1 (8)
• Myant M. (2007), Economic transformation in the Czech Republic - a qualified success, ‘Europe- Asia Studies’, Vol. 59, No. 3
• North D.C. (1990), Institutions, Institutional Change and Economic Performance, Cambridge University Press, Cambridge
• Reininger T., Schardax F., Summer M. (2001), The Financial System in the Czech Republic,Hungary and Poland after a Decade of Transition, ‘Discussion Paper’ No. 16, Economic Research Centre of the Deutsche Bundesbank
• Weill L. (2003), Banking efficiency in transition economies, ‘The Economics of Transition’, The European Bank for Reconstruction and Development, Vol. 11 (3)
• Zoli E. (2001), Cost and Effectiveness of Banking Sector Restructuring in Transition Economies, IMF Working Paper

Identifiers

DOI

10.2478/cer-2013-0008