State Owned Banks In The Transition

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State-owned Banks in the Transition

Khaled Sherif,Michael S. Borish,Alexandra Gross
State owned Banks in the Transition Book PDF

Author : Khaled Sherif,Michael S. Borish,Alexandra Gross
Publisher : World Bank Publications
Page : 134 pages
File Size : 46,8 Mb
Release : 2003
Category : Political Science
ISBN : 082135499X

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State-owned Banks in the Transition by Khaled Sherif,Michael S. Borish,Alexandra Gross Pdf

'State-Owned Banks in the Transition: Origins, Evolution, and Policy Responses' reviews the experience with state banking over the last decade in the transition economies of Europe and Central Asia. State ownership of banking systems has undermined economic reform efforts and has distorted emerging markets. This study compares various approaches to reform and calls attention to the significant costs associated with continued state ownership. It concludes with lessons from experience and recommendations for policymakers on approaches to reducing state ownership of banks in the region. The findings indicate that restructuring of state banks has proven time consuming and costly, and governments are better off moving swiftly to privatize or liquidate their remaining state banks rather than attempting to rehabilitate them. This report includes seven case studies of individual state banks that have been reformed or privatized over the past decade. The case studies highlight the challenges of implementing various reform measures and illustrate how such challenges have been addressed in difficult economic and political contexts.

Institutions in Transition

Lisa Román
Institutions in Transition Book PDF

Author : Lisa Román
Publisher : Springer Science & Business Media
Page : 232 pages
File Size : 54,5 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461549819

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Institutions in Transition by Lisa Román Pdf

"If you want to become a doctor, practice in a war; if you want to become an economist, practice in Vietnam". 1 Phan Van Tiem Vietnam is one of many countries presently undergoing fundamental institutional change: the market mechanism is replacing central planning. So far, the achievements are impressive. In the mid-1980s, the country failed to feed its population, suffered from hyperinflation and faced general economic stagnation. In the early 1990s, the annual economic growth rate had accelerated to some eight to nine percent, the inflation rate had fallen to two-digit levels - sometimes even lower - and the country had become one of the world's largest rice exporters. Add some more details - the increased foreign trade, the inflow of foreign investments, the diversification of agriculture, and ~e various reform measures taken to alter the basic economic structure - and the success story of the Vietnamese transition is told. The country has hence followed the same path as its northern neighbor China, and provided a counterexample to much more cumbersome processes that have been adopted in a number of other transforming countries, notably those of the former USSR. This transition is by no means over. Indeed, it is misleading to think of transition as a process that departs from a well-defined pre-condition and moves towards an equally well defined end-point.

The Future of State-Owned Financial Institutions

Gerard Caprio,Jonathan L. Fiechter,Robert E. Litan
The Future of State Owned Financial Institutions Book PDF

Author : Gerard Caprio,Jonathan L. Fiechter,Robert E. Litan
Publisher : Rowman & Littlefield
Page : 396 pages
File Size : 41,7 Mb
Release : 2010-12-01
Category : Business & Economics
ISBN : 9780815717065

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The Future of State-Owned Financial Institutions by Gerard Caprio,Jonathan L. Fiechter,Robert E. Litan Pdf

Research suggests that if the majority of a country's financial institutions are owned by the state, that country will experience slower financial development, less efficient financial systems, less private sector credit, and slower GDP growth. Yet more than 40 percent of the world's population live in countries in which public sector institutions dominate the banking system. In The Role of State-Owned Financial Institutions: Policy and Practice noted experts discuss the challenges presented by state-owned financial institutions and offer cross-disciplinary solutions for policymakers and banking regulators. The issues include: methods for effectively managing, reforming, and privatizing state-owned banks; the fiscal costs and contingent liabilities of state-owned banks; macroeconomic implications and the impact of state-owned banking on access to credit in an economy; guidance for effective supervision of state-owned banks; managerial perspectives on improving products, human resources, and risk; management case studies of different methods of privatization, such as initial public offerings, employee stock ownership plans, and strategic investors Contributors include David Binns (Beyster Institute), Robert Cull (World Bank), Ron Gilbert (ESOP Services), James A. Hanson (World Bank), Richard Hemming (International Monetary Fund), Fred Huibers (ING Research), Arminio Fraga (formerly Central Bank of Brazil), Nicholas Lardy (Institute for International Economics), David Marston (International Monetary Fund), Moody's Global Investor Service, Herman Mulder (ABN-Amro), William Nichol (Deutsche Bank AG), Urjit Patel (Infrastructure Development Finance Company, India), and P. S. Srinivas (World Bank).

Privatization Matters

John Bonin,Iftekhar Hasan,Paul Wachtel
Privatization Matters Book PDF

Author : John Bonin,Iftekhar Hasan,Paul Wachtel
Publisher : Unknown
Page : 44 pages
File Size : 43,5 Mb
Release : 2004
Category : Banks and banking
ISBN : UTEXAS:059173031643917

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Privatization Matters by John Bonin,Iftekhar Hasan,Paul Wachtel Pdf

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Reforming China's State-owned Enterprises and Banks

Becky Chiu,Mervyn Lewis
Reforming China s State owned Enterprises and Banks Book PDF

Author : Becky Chiu,Mervyn Lewis
Publisher : Edward Elgar Publishing
Page : 451 pages
File Size : 45,6 Mb
Release : 2006-01-01
Category : Business & Economics
ISBN : 9781845429881

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Reforming China's State-owned Enterprises and Banks by Becky Chiu,Mervyn Lewis Pdf

This book is informative and readable. It will be of interest to anyone wanting to learn about the development of the Chinese economy in general and the reforms of state-owned enterprises in particular. The data and in-depth discussion presented in the book will appeal to academics as well as policymakers. Yin-Fang Zhang, Journal of the Asia Pacific Economy China watchers will welcome a book which provides a detailed insight into the two pillars of that economy: the state-owned enterprises (SOEs) and the state-owned banks (SOBs). This is a scholarly work, rich in detail. Shelagh Heffernan, The Financial Regulator For China to sustain her transformation requires that she tackle reform of her state-owned enterprises (SOEs) and banks. This book comprehensively assesses the scale of the problem, reviews previous reforms and suggested solutions. Finally the authors propose their own reform agenda, sensitive to Chinese realities. Michael Artis, European University Institute, Italy This is an excellent study of the nexus between the effects of party control, the soft budget of state-owned enterprise (SOEs) and the financial fragility of the state-owned banking system (SOBs) in China. It is both sympathetic and knowledgeable about the problems of achieving reform and progress. Beautifully written, it should become the most influential work in this field in the English-speaking world. Charles A.E. Goodhart, London School of Economics, UK This book s starting point is that after two decades of experiments, during which other transition economies have effectively privatised all of their former state enterprises, China is still endeavouring to find a way to reinvent and re-engineer its own state-owned economic establishments. The authors explore these reforms along with the problems of China s state-owned banks, which have long been troubled by the adverse loans of Chinese enterprises and face foreign competition in 2007 under China s WTO commitments. Drawing on wide-ranging case studies of enterprise reform, Becky Chiu and Mervyn Lewis combine their extensive experience to give an authoritative account of China s enterprise and bank reform agenda, involving property rights, improved corporate governance and stimulating enterprise. This book will be of great interest to business economists, academic economists and those following the development of the Chinese economy.

Transition Banking

Ronald W. Anderson,Chantal Kegels
Transition Banking Book PDF

Author : Ronald W. Anderson,Chantal Kegels
Publisher : Unknown
Page : 330 pages
File Size : 47,8 Mb
Release : 1998
Category : Business & Economics
ISBN : STANFORD:36105020138363

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Transition Banking by Ronald W. Anderson,Chantal Kegels Pdf

This book examines recent evidence--which essentially began to appear in 1993--related to the development of financial sectors within Central Europe's economies. These systems are currently in transition, each making closely-watched moves toward a market economy.

State-Owned Banks and Fiscal Discipline

Mr.Jesus Gonzalez-Garcia,Francesco Grigoli
State Owned Banks and Fiscal Discipline Book PDF

Author : Mr.Jesus Gonzalez-Garcia,Francesco Grigoli
Publisher : International Monetary Fund
Page : 27 pages
File Size : 44,9 Mb
Release : 2013-10-03
Category : Business & Economics
ISBN : 9781484390092

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State-Owned Banks and Fiscal Discipline by Mr.Jesus Gonzalez-Garcia,Francesco Grigoli Pdf

State-owned banks may help to soften the financing constraints of public sector entities and consequently become a factor that hampers fiscal discipline. Using a panel dataset, we find that a larger presence of state-owned banks in the banking system is associated with more credit to the public sector, larger fiscal deficits, higher public debt ratios, and the crowding out of credit to the private sector. These results suggest that the lending practices of state-owned banks should be carefully assessed in any strategy to pursue fiscal discipline.

State Holding Companies and Public Enterprises in Transition

Anjali Kumar
State Holding Companies and Public Enterprises in Transition Book PDF

Author : Anjali Kumar
Publisher : Springer
Page : 315 pages
File Size : 49,9 Mb
Release : 2016-07-27
Category : Business & Economics
ISBN : 9781349230105

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State Holding Companies and Public Enterprises in Transition by Anjali Kumar Pdf

'...very valuable for both policy-makers and researchers...' Professor Athar Hussain, Director, Development Economics Research Programme, STICERD, The London School of Economics and Political Science 'The really novel idea is to bring together the experience of three rather diverse countries and then to discuss Eastern Europe in the light of this experience. State holding companies are likely to play a major role in Eastern Europe over the next ten years or more but very little has been written on them and few of the people advising the East Europeans have any real knowledge about them.' Professor Robert Rowthorn, University of Cambridge '...rich and substantial...' Professor John Toye, Institute of Development Studies, University of Sussex '...most informative...The conclusions are appropriately restrained, well-balanced and wise...The emphasis on the differences between portfolio management and enterprise management is a distinction that East Europe will eventually have to learn.' Raymond Vernon, Emeritus Professor, John F.Kennedy School of Government, Harvard University Large and poorly performing state-owned enterprises pose a problem for countries attempting to move away from government controls towards more liberal economic environments. Privatization is an unproven solution which is proving difficult to implement on a major scale. Intermediate solutions may therefore prove to be the way forward. This book focuses on one of these: the state holding company. It first discusses the state holding company as a managerial form, which permits decentralised public enterprise management, and offers a framework for its analysis. Then, drawing upon the experience of both developed and developing countries, it examines the extent to which the indirect state ownership of public enterprises through holding companies can contribute to transition processes. It shows that the experience of countries like Italy, Egypt and Algeria has direct relevance for institutional structures evolving in the newly transforming countries of Eastern Europe, which are struggling to find a balance between public enterprise ownership and efficiency.

Public Banks

Thomas Marois
Public Banks Book PDF

Author : Thomas Marois
Publisher : Cambridge University Press
Page : 0 pages
File Size : 51,5 Mb
Release : 2023-05-11
Category : Business & Economics
ISBN : 1108984517

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Public Banks by Thomas Marois Pdf

Public banks are banks located within the public sphere of a state. They are pervasive, with more than 900 institutions worldwide, and powerful, with tens of trillions in assets. Public banks are neither essentially good nor bad. Rather, they are dynamic institutions, made and remade by contentious social forces. As the first single-authored book on public banks, this timely intervention examines how these institutions can confront the crisis of climate finance and catalyse a green and just transition. The author explores six case studies across the globe, demonstrating that public banks have acquired the representative structures, financial capacity, institutional knowledge, collaborative networks, and geographical reach to tackle decarbonisation, definancialisation, and democratisation. These institutions are not without contradictions, torn as they are between contending public and private interests in class-divided society. Ultimately, social forces and struggles shape how and if public banks serve the public good.

Privatization Matters

John Bonin
Privatization Matters Book PDF

Author : John Bonin
Publisher : Unknown
Page : 37 pages
File Size : 45,5 Mb
Release : 2009
Category : Electronic
ISBN : OCLC:1290844543

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Privatization Matters by John Bonin Pdf

To investigate the impact of bank privatization in transition countries, we take the largest banks in six relatively advanced countries, namely, Bulgaria, the Czech Republic, Croatia, Hungary, Poland and Romania. Income and balance sheet characteristics are compared across four bank ownership types. Efficiency measures are computed from stochastic frontiers and used in ownership and privatization regressions having dummy variables for bank type. Our empirical results support the hypotheses that foreign-owned banks are most efficient and government-owned banks are least efficient. In addition, the importance of attracting a strategic foreign owner in the privatization process is confirmed. However, counter to the conjecture that foreign banks cream skim, we find that domestic banks have a local advantage in pursuing fee-for-service business. Finally, we show that both the method and the timing of privatization matter to efficiency; specifically, voucher privatization does not lead to increased efficiency and early privatized banks are more efficient than later-privatized banks even though we find no evidence of a selection effect.

China's Financial Transition at a Crossroads

Charles W Calomiris
China s Financial Transition at a Crossroads Book PDF

Author : Charles W Calomiris
Publisher : Columbia University Press
Page : 433 pages
File Size : 43,9 Mb
Release : 2007-07-06
Category : Business & Economics
ISBN : 9780231512091

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China's Financial Transition at a Crossroads by Charles W Calomiris Pdf

China's increasing role in global economic affairs has placed the country at a crossroads: how many and what types of international capital-market transactions will China permit? How will China's financial system change internally? What kind of relationships will the Chinese government develop with foreign financial institutions, especially with those based in the United States? Can China broker a sustainable partnership with America that will avoid sending economic shock waves throughout the world? Drawing on the contemporary research of prominent international scholars, the experts in this volume outline the trajectory of China's financial markets since the advent of reform and anticipate their uncertain future. Chapter authors and commentators include Geert Bekaert, Loren Brandt, Lee Branstetter, Mary Wadsworth Darby, Michael DeStefano, Barry Eichengreen, Campbell Harvey, Fred Hu, Xiaobo Lu, Christian Lundblad, Ailsa Roell, Daniel Rosen, Shang-Jin Wei, Jialin Yu, and Xiaodong Zhu. The book begins with an overview of the history of financial-sector development, regulation, and performance and then focuses on the banking sector, discussing the progress, challenges, and prospects of current sector reform. Subsequent chapters describe the role of foreign capital in China's development and analyze the changes in capital flows and controls over time; explore various explanations for China's composition of foreign-capital and foreign-exchange policies, particularly the factors shaping China's reliance on foreign direct investment; and provide an international, comparative perspective on the remarkable growth experience of China and the contribution of its institutional environment to that experience. Contributors dispute the belief that stock market listing has done little to reform state-owned enterprises and take a hard look at the exchange rate regime choice for China, considering the potential long-run desirability of flexibility and the appropriate sequencing of reforms in foreign-exchange policy, domestic banking reform, and capital-market openness. The book concludes with a roundtable discussion in which prominent economists, including Peter Garber, Robert Hodrick, John Makin, David Malpass, Frederic Mishkin, and Eswar Prasad, debate the pace of the appreciation of China's currency and the likely consequences of that policy within and outside of China.

Hidden Debt

Martin Melecky
Hidden Debt Book PDF

Author : Martin Melecky
Publisher : World Bank Publications
Page : 271 pages
File Size : 47,5 Mb
Release : 2021-07-15
Category : Business & Economics
ISBN : 9781464816680

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Hidden Debt by Martin Melecky Pdf

The COVID-19 crisis, which has sent economies in South Asia and around the world into a deep recession, has highlighted South Asia’s rising debt levels and sizable hidden liabilities. State-owned enterprises, state-owned commercial banks, and public-private partnerships have been at the center of the rising debt wave and the latest pandemic response. Historically,South Asia has relied on these direct public interventions more than other regions. The interventions have helped governments tackle key development challenges and rapidly deliver relief measures during crises. However, because of their inefficiencies and weak governance, the interventions are also a significant source of public indebtedness and macrofinancial risks. Hidden Debt examines the trade-off between tackling development challenges through direct state presence in the market and avoiding unsustainable debt due to economic inefficiencies of such off†“balance sheet operations, which greatly leverage public capital. The study recommends a reform agenda based on the four interrelated principles of purpose, incentives, transparency, and accountability (PITA). The reforms can mitigate the risks that off†“balance sheet operations will become the source of the next financial crisis in South Asia.

Structure and Changes of China’s Financial System

Jie Zhang
Structure and Changes of China s Financial System Book PDF

Author : Jie Zhang
Publisher : Routledge
Page : 157 pages
File Size : 42,6 Mb
Release : 2018-05-11
Category : Business & Economics
ISBN : 9781317479925

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Structure and Changes of China’s Financial System by Jie Zhang Pdf

By virtue of several theoretical models and hypotheses, this book is one of the earliest studies which systematically investigates the structure and changes of China’s financial institutions. To begin with, it examines the relation between state utility function and China’s economic growth, and reveals the formation and transition of China’s state-owned financial institutional arrangements. Based on this analysis, the author studies the influence of monetization on the arrangements, and the financial support to China’s gradual reform which have long been neglected by researchers. Also, the model of money demand that can explain the specific conditions of the gradual reform is built, as the neoclassical framework has been incapable of explaining China’s financial performance. In the last chapter, it discusses the dilemma of property rights under the state-owned financial system, with the establishment of the credit equilibrium model and the dual model of bad debts. With insightful theoretical analysis and empirical researches, this book will appeal to scholars and students in finance, economics and economic history.

Bank Ownership

Robert Cull,Mr.Maria Soledad Martinez Peria,Jeanne Verrier
Bank Ownership Book PDF

Author : Robert Cull,Mr.Maria Soledad Martinez Peria,Jeanne Verrier
Publisher : International Monetary Fund
Page : 49 pages
File Size : 51,7 Mb
Release : 2017-03-22
Category : Business & Economics
ISBN : 9781475588125

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Bank Ownership by Robert Cull,Mr.Maria Soledad Martinez Peria,Jeanne Verrier Pdf

This paper presents recent trends in bank ownership across countries and summarizes the evidence regarding the implications of bank ownership structure for bank performance and competition, financial stability, and access to finance. The evidence reviewed suggests that foreign-owned banks are more efficient than domestic banks in developing countries, promote competition in host banking sectors, and help stabilize credit when host countries face idiosyncratic shocks. But there are tradeoffs, since foreign-owned banks can transmit external shocks and might not always expand access to credit. The record on the impact of government bank ownership suggests few benefits, especially for developing countries.

The Federal Reserve System Purposes and Functions

Board of Governors of the Federal Reserve System
The Federal Reserve System Purposes and Functions Book PDF

Author : Board of Governors of the Federal Reserve System
Publisher : Unknown
Page : 0 pages
File Size : 53,9 Mb
Release : 2002
Category : Banks and Banking
ISBN : 0894991965

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The Federal Reserve System Purposes and Functions by Board of Governors of the Federal Reserve System Pdf

Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.