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Financial Intermediation in the New Europe

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Financial Intermediation in the New Europe

Banks, Markets and Regulation in EU Accession Countries

9781843769491 Edward Elgar Publishing
Edited by Donato Masciandaro, Full Professor of Economics and Chair in Economics of Financial Regulation, Bocconi University, Italy
Publication Date: 2004 ISBN: 978 1 84376 949 1 Extent: 416 pp
What role will the current evolution of banking systems play in the newly adopted EU countries during the historic challenges following enlargement? This book, a blend of economics and political economy, offers a systematic analysis of the current trends in financial intermediation in the countries of the newly enlarged Europe, with particular focus on those policies taken by foreign banks on the one hand, and by regulatory and supervisory authorities on the other.

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Critical Acclaim
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Contents
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What role will the current evolution of banking systems play in the newly adopted EU countries during the historic challenges following enlargement? This book, a blend of economics and political economy, offers a systematic analysis of the current trends in financial intermediation in the countries of the newly enlarged Europe, with particular focus on those policies taken by foreign banks on the one hand, and by regulatory and supervisory authorities on the other.

The authors argue that their research has led to one conclusion; in order to enter the EU, the accession countries needed to increase the efficiency of their economic systems rapidly through liberalization and privatization. The book assesses whether the presence of foreign banks will contribute to long term economic growth and financial stability, and how the architecture of banking regulations and supervision should be designed.

As a multidisciplinary work, though principally economics, the book will appeal to scholars and academics of politics and law. It also has particular relevance for regulators and supervisory institutions, as well as professionals including bankers, financial operators and also legal compliance officers.
Critical Acclaim
‘. . . the collection deserves to be read by anyone with an interest in the role of the commercial banks in the financial landscape of that region. Professor Masciandaro is to be congratulated in bringing together such an informative and significant collection of essays.’
– Eva Lomnicka, Journal of Financial Regulation and Compliance

‘This is a timely and well thought out study of the European banking contest being played out in the countries of “new Europe” against the backdrop of globalisation.’
– Andrew W. Mullineux, Bournemouth University, UK
Contributors
Contributors: A. Beltratti, J. Crespo Cuaresma, R. D’Antonio, J. de Haan, G. Di Giorgio, B. Égert, F. Farabullini, G. Ferri, A. García Herrero, D. Gros, D.T. Llewellyn, D. Masciandaro, D. Mihaljek, F. Mucci, D. Navia Simón, I. Naaborg, L. Papi, V. Pätoprsty, A. Pilková, F. Pissarides, A. Porta, T. Reininger, D. Revoltella, M. Summer, M. Würz
Contents
Contents: Foreword Introduction Part I: Intermediation, Firms and Financial Markets 1. Banking Industry in Central and Eastern Europe: The Unexpected Leader in the Transition and Integration with the EU 2. Deepening Financial Intermediation in the New Europe: The Role of Banks 3. Financial Structures and Private Sector Development in the New Europe 4. Financial Risk in Accession Countries Part II: Foreign Banks 5. Who Needs Foreign Banks? 6. New Europe Banking: The Role of International Players 7. Financial Intermediation in Accession Countries: The Role of Foreign Banks 8. Foreign Banks and Financial Stability in the New Europe 9. Eastern Passages for Italy’s Banks and Industrial Districts: Are the Two Related or Independent? Part III: Regulation, Supervision and Monetary Policy 10. Financial Regulation in the New Europe 11. Single Authority in Financial Markets Supervision: Lessons for EU Enlargement 12. Deposit Insurance in the New Europe 13. Interest Rate Pass-Through in EU Acceding Countries: The Case of the Czech Republic, Hungary and Poland Index
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