The financial system in the Czech Republic, Hungary and Poland after a decade of transition:
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Frankfurt am Main
Dt. Bundesbank
2001
|
| Schriftenreihe: | Discussion paper / Economic Research Centre of the Deutsche Bundesbank
2001,16 |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Zsfassung in dt. Sprache |
| Beschreibung: | 85 S. graph. Darst. |
| ISBN: | 3933747929 |
Internformat
MARC
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| 245 | 1 | 0 | |a The financial system in the Czech Republic, Hungary and Poland after a decade of transition |c Thomas Reininger ; Franz Schardax ; Martin Summer |
| 264 | 1 | |a Frankfurt am Main |b Dt. Bundesbank |c 2001 | |
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| 490 | 1 | |a Discussion paper / Economic Research Centre of the Deutsche Bundesbank |v 2001,16 | |
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Datensatz im Suchindex
| _version_ | 1804129023600623616 |
|---|---|
| adam_text | Table of Contents
1 Introduction 1
2 The Banking System 3
2.1 The early phase of transition: Banking Crises,
Recapitalization Programs and Bank Privatization. 4
2.1.1 The Legacy from Central Planning 4
2.1.2 Recapitalization Programs 5
2.1.3 Privatization and Foreign Ownership 6
2.2 Size and Concentration of the Banking Sector 8
2.3 Structure of Lending and Deposits 10
2.4 Banking Sector Efficiency and Profitability 16
3 The Capital Market 21
3.1 The Establishment of Capital Markets 21
3.1.1 Establi shment of Equity Markets 21
3.1.2 Establishment of Markets for Debt Securities
Denominated in Local Currency 22
3.2 Size and Structure of Securities Markets 22
3.3 Liquidity of Securities Markets 25
3.4 Foreign Participation in the Equity Markets 28
4 The Structure of Funding 32
4.1 Funding of the Private Sector 32
4.1.1 International Comparison of the Private Sector s
Funding Sources 32
4.1.2 Comparison of the sources of external finance to enterprises 35
4.2 Funding of the Public Sector 37
4.2.1 The Role of the Equity Market for the Public Sector 37
4.2.2 Sovereign Debt Securities Denominated in
Local Currency 37
4.3 Vulnerability to short term capital outflows? 40
5 The Legal and Supervisory Environment 44
5.1 The Legal and Supervisory Determinants of Financial Development 44
5.2 Methodology 46
5.3 Legal Environment in the CEEC 3 in comparison with EU 15 47
5.3.1 Rights of outside Investors 48
5.3.1.1 Creditor Rights 48
5.3.1.2 Shareholder Rights 49
5.3.2 The General Quality of Law Enforcement 53
5.3.2.1 Rule of Law 52
5.3.2.2 Corruption 53
5.3.2.3 Governments attitude towards inward investment 54
5.4 Summary 56
5.5 Banking Regulation and Supervision 56
5.5.1 Capital Stringency 56
5.5.2 Supervision 58
5.5.2.1 Formal Supervisory Power 58
5.5.2.2 Supervisory Enforcement: Supervisory Resources 60
and Supervisory Forbearance
5.5.3 Market Discipline and private Monitoring Incentives 63
5.5.4 Summary 64
6 Conclusions 65
References 71
Data Sources 77
Appendix 79
List of Tables and Figures
Table 1 Fiscal Costs of Bank Recapitalization 6
Table 2 Stock of Domestic Credit of the Banking System
(including Foreign ExchangeDenominated Credit) 11
Table 3 Credit to the Corporate Sector by the Banking System 13
Table 4 The Corporate Sector s Foreign Exchange Position against
the Domestic Banking System 14
Table 5 The Corporate Sector s Foreign Exchange Position against 14
the Domestic Banking System and Nonresidents
Table 6 Foreign Exchange Deposits of Resident Private Nonbanks 15
Table 7 Commercial Banks Net Foreign Assets and their Net Foreign 16
Exchange Position against Domestic Nonbanks
Table 8 Return on Equity (ROE) 17
Table 9 Net Interest Income / Gross Income 18
Table 10 Lending Rate minus Deposit Rate to Nonbanks 18
Table 11 Net Interest Margin 19
Table 12 Net Provisions/Gross Income 20
Table 13 Operating Expenses/Gross Income 21
Table 14 Market Capitalization 24
Table 15 Secondary Market Turnover 26
Table 16 Market liquidity 28
Table 17 Market Participants 29
Table 18 Ownership Structure of Companies Listed on the
Domestic Stock Exchange 30
Table 19 Foreign Share of Equity Market Turnover 31
Table 20 International Comparison of the Stock of Domestic and
Foreign Credit to the Private Sector 33
Table 21 International Comparison of Channels of Financial
Intermediation to Enterprises 35
Table 22 Ratio of Central Government Debt to GDP (in %) 38
Table 23 Structure of Central Government Debt 38
Table 24 Holder Structure of publicly issued central government 39
debt securities in local currency
Table 25 Risk Exposure to Foreign Capital Outflows 43
Figures
Figure 1 Foreign Ownership 8
Figure 2 Banking Sector Size 9
Figure 3 Market Concentration 10
Figure 4 Nonperforming Loans (Dec 31, 2000) share in total assets, in % 20
Figure 5 Broad Money in % of gross official reserves 40
Figure 6 Short term External Debt and Repayments on Medium
and Long Term External Debt Due within One Year,
at year end 2000 in % of gross official reserves (excluding gold) 41
Figure 7 Net Income Balance in 2000 in % of gross official reserves
(excluding gold) 42
Figure 8 Creditor Rights 49
Figure 9 Shareholder Rights 51
Figure 10 Rule of Law 53
Figure 11 Corruption 54
Figure 12 Government Attitute to inward Investment 55
Figure 13 Capital Regulatory Index 58
Figure 14 Official Supervisory Power Index 59
Figure 15 Number of Supervisors per Bank 61
Figure 16 Onsite Examination Frequency 62
Figure 17 Supervisory Forbearance Discretion 63
Figure 18 Private Monitoring Incentives 64
|
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| author | Reininger, Thomas Schardax, Franz Summer, Martin |
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| discipline | Wirtschaftswissenschaften |
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| id | DE-604.BV014149631 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T18:58:33Z |
| institution | BVB |
| isbn | 3933747929 |
| language | English |
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| spelling | Reininger, Thomas Verfasser aut The financial system in the Czech Republic, Hungary and Poland after a decade of transition Thomas Reininger ; Franz Schardax ; Martin Summer Frankfurt am Main Dt. Bundesbank 2001 85 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Discussion paper / Economic Research Centre of the Deutsche Bundesbank 2001,16 Zsfassung in dt. Sprache Kapitalmarkt (DE-588)4029578-3 gnd rswk-swf Kreditwesen (DE-588)4032950-1 gnd rswk-swf Ungarn (DE-588)4078541-5 gnd rswk-swf Tschechien (DE-588)4303381-7 gnd rswk-swf Polen (DE-588)4046496-9 gnd rswk-swf Tschechien (DE-588)4303381-7 g Kreditwesen (DE-588)4032950-1 s Ungarn (DE-588)4078541-5 g Polen (DE-588)4046496-9 g DE-604 Kapitalmarkt (DE-588)4029578-3 s Schardax, Franz Verfasser (DE-588)171889320 aut Summer, Martin Verfasser (DE-588)171349008 aut Volkswirtschaftliches Forschungszentrum <Frankfurt, Main> Diskussionspapier 2001,16 (DE-604)BV013545109 2001,16 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009697346&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Reininger, Thomas Schardax, Franz Summer, Martin The financial system in the Czech Republic, Hungary and Poland after a decade of transition Kapitalmarkt (DE-588)4029578-3 gnd Kreditwesen (DE-588)4032950-1 gnd |
| subject_GND | (DE-588)4029578-3 (DE-588)4032950-1 (DE-588)4078541-5 (DE-588)4303381-7 (DE-588)4046496-9 |
| title | The financial system in the Czech Republic, Hungary and Poland after a decade of transition |
| title_auth | The financial system in the Czech Republic, Hungary and Poland after a decade of transition |
| title_exact_search | The financial system in the Czech Republic, Hungary and Poland after a decade of transition |
| title_full | The financial system in the Czech Republic, Hungary and Poland after a decade of transition Thomas Reininger ; Franz Schardax ; Martin Summer |
| title_fullStr | The financial system in the Czech Republic, Hungary and Poland after a decade of transition Thomas Reininger ; Franz Schardax ; Martin Summer |
| title_full_unstemmed | The financial system in the Czech Republic, Hungary and Poland after a decade of transition Thomas Reininger ; Franz Schardax ; Martin Summer |
| title_short | The financial system in the Czech Republic, Hungary and Poland after a decade of transition |
| title_sort | the financial system in the czech republic hungary and poland after a decade of transition |
| topic | Kapitalmarkt (DE-588)4029578-3 gnd Kreditwesen (DE-588)4032950-1 gnd |
| topic_facet | Kapitalmarkt Kreditwesen Ungarn Tschechien Polen |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009697346&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| volume_link | (DE-604)BV013545109 |
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