- Copyright Page
- List of Figures
- List of Tables
- List of Abbreviations
- List of Contributors
- Banking: A Decade on from the Global Financial Crisis
- The Roles of Banks in Financial Systems
- Commercial Banking and Shadow Banking: The Accelerating Integration of Banks and Markets and its Implications for Regulation
- Corporate Complexity and Systemic Risk: A Progress Report
- Corporate Governance and Culture in Banking
- Private Information and Risk Management in Banking
- Creation and Regulation of Bank Liquidity
- The Performance of Financial Institutions Modeling, Evidence, and some Policy Implications
- Technological Change and Financial Innovation in Banking: Some Implications for FinTech
- Community Banking Institutions: Commercial Banks, Savings Banks,Cooperative Banks, and Credit Unions
- Islamic banking: A Review of the Empirical Literature and Future Research Directions
- Can We Improve the Impact of Microfinance?: A Survey of the Recent Literature and Potential Avenues for Success
- Small Business Lending: The Roles of Technology and Regulationfrom Pre-crisis to Crisis to Recovery
- Residential Mortgages
- Shadow Banking
- Modern Central Banking
- Lender of Last Resort: A New Role for the Old Instrument
- Bank Bailouts and Bail-Ins
- Bank Runs and Moral Hazard: A Review of Deposit Insurance
- Bank Capital Requirements after the Financial Crisis
- Market Discipline in Regulation: Pre and Post Crisis
- Competition in the Banking Sector
- Behavioral Economics, Financial Literacy, and Consumers’ Financial Decisions
- Systemic Risk in Banking after the Great Financial Crisis
- Hardy Perennials: Banking Crises Around the World
- Bank Failures, The Great Depression, and Other “Contagious” Events
- Banking Globalization: Cross-border Entry, Complexity,and Systemic Risk
- Banking and Real Economic Activity: Foregone Conclusions and Open Challenges
- Banking in the United States
- Banking in Europe: Integration, Reform, and the Road to a Banking Union
- Banking in Japan: A Post-global Financial Crisis Perspective
- Banking in Africa
- Banking in China
- Banking in the Transition Countries of Central, Southern, and Eastern Europe and the Former Soviet Union
- Banking in Latin America: Developments and Prospects
- Banking in Australia and New Zealand—Geographic Proximity, Market Concentration, and Banking Integration
Abstract and Keywords
This chapter explains the functioning of the banking sectors in the European transition countries. First, we reflect on the thirty-year history of transition banking from the creation of banking institutions out of the planning structures through the effect of the global financial crisis and the post-crisis challenges. We show that experiences across the region are by no means uniform, both with respect to the path since transition started and the current state of the industry. Second, we focus on the state of the banking industry when transition is finalized and show the similarities and differences between banking in this region and elsewhere. Finally, we analyze financial inclusion as one of the critical issues that affects contemporary banking in the region.
Zuzana Fungáčová is a Senior Advisor at the Bank of Finland Institute for Economies in Transition in Helsinki. Her research interests are in banking, emerging markets and their financial sectors as well as financial stability. She has experience from the European Central Bank and was also a Visiting Economist at the Austrian Central Bank. She obtained her Ph.D in Economics from the Center for Economic Research and Graduate Education in Prague and served also as a research affiliate at the Institute of Economic Studies at Charles University in Prague. Her research has been published in academic journals including Journal of Banking and Finance, Journal of Financial Services Research, Journal of Economic Behavior & Organization, World Development, Journal of Macroeconomics, Economics of Transition, Regional Studies and China Economic Review.
Iftekhar Hasan is the E. Gerald Corrigan Chair in International Business and Finance at Gabelli School of Business, New York, USA. He serves as the scientific advisor at the Bank of Finland and is affiliated with the University of Sydney as a fractional Professor. He is the managing editor of the Journal of Financial Stability and serves as an associate editor for several other academic journals. His research interests are in the areas of financial institutions, corporate finance, and emerging economies. Professor Hasan has numerous publications in print, including books and edited volumes, and peer-reviewed journal articles in finance, economics, accounting, information systems, and management journals.
Laura Solanko is Senior Advisor at the Bank of Finland Institute for Economies in Transition (BOFIT), specializing in Russian economic developments. She received her doctoral degree from the University of Helsinki in 2007, majoring in economics. She was the Editor of BOFIT Discussion Papers and responsible for BOFIT Visiting Researchers Programme for 2011–15, and continues to regularly contribute to BOFIT Weekly Review on Russia. Her current research interests include banking and financial markets in Russia and China, Russia–EU energy relations, and political economy in Russia. Her research has been published in, for example, the Journal of Banking and Finance, Public Choice, and Review of International Economics.
Paul Wachtel is a Professor of Economics at New York University Stern School of Business. He has been with Stern for over forty years and has served as department chair and Vice Dean. He is currently the Academic Director for the BS in the Business and Political Economy Program. He has been a research associate at the National Bureau of Economic Research, a senior economic advisor to the East West Institute, and a consultant to the Bank of Israel, the IMF, and the World Bank. He received his B.A. from Queens College in 1966, his M.A. in Economics from the University of Rochester, and his D.Phil from the University of Rochester in 1971. His primary areas of research include the relationship of financial development to economic growth, monetary policy, central banking in the post-crisis world, and financial sector reform in economies in transition. He has published widely in these areas.
Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.
If you have purchased a print title that contains an access token, please see the token for information about how to register your code.