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The Role Of Commercial Banks In Enterprised Restructuring In Central And Eastern Europe
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Book Synopsis `The Role of Commercial Banks in Enterprised Restructuring in Central and Eastern Europe by : Millard Long
Download or read book `The Role of Commercial Banks in Enterprised Restructuring in Central and Eastern Europe written by Millard Long and published by World Bank Publications. This book was released on 1995 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Role of Commercial Banks in Enterprise Restructuring in Central and Eastern Europe by : Millard Long
Download or read book The Role of Commercial Banks in Enterprise Restructuring in Central and Eastern Europe written by Millard Long and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: February 1995 In Central and Eastern Europe, banks are less active than planned in enterprise restructuring. Corporate restructuring is not normally a major part of commercial banking -- to ask banks to restructure their weakest clients is to direct attention away from lending to their strongest clients, which should be their core business. Enterprises are thus being restructured not by banks or government agencies but by brutal market forces. Many countries in Central and Eastern Europe assigned banks the responsibility for restructuring enterprises. Such restructuring had five components: * Triage of enterprises into three classes: viable, viable with debt relief, and nonviable. * Work with management of overindebted firms on a restructuring plan beforegranting debt relief. * Trigger the bankruptcy-liquidation process on nonviable firms. * Fund new investments needed as part of physical restructuring. * Provide corporate governance through representation on boards of directors. The initial information is that banks are performing these roles only to a limited degree. Signals are mixed on how vigorously governments want banks to pursue bankruptcy proceedings. With little opportunity to recover funds, banks are accepting even dubious restructuring programs from enterprises. But banks, except under government directive, are avoiding making new loans to loss-making enterprises. Together with a cut in fiscal subsidies, this is imposing a harder budget constraint on the enterprises. Nonviable enterprises seem more likely to starve to death than to die through execution. Corporate restructuring is not a normal part of commercial banking. To ask banks to restructure weak enterprises is to direct their attention away from what should be their core business: lending to strong enterprises. In fact, banks are under attack for being excessively conservative. Enterprise restructuring is taking place in Central and Eastern Europe driven by the disintegration of regional trade relations, sharply higher input prices, falling domestic demand, inflation, and other economic dislocations in combination with the harder budget constraint. Thus far the restructuring has been more downsizing than making new investments. This paper -- a product of the Financial Sector Policy and Institutions Unit, Financial Sector Development Department -- is part of a larger effort in the department to study the role of banks in restructuring.
Book Synopsis Enterprise Reform in Eastern Europe by : Sweder van Wijnbergen
Download or read book Enterprise Reform in Eastern Europe written by Sweder van Wijnbergen and published by World Bank Publications. This book was released on 1993 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Applying Western textbook solutions to the problems of enterprise reform in Eastern Europe is likely to be counterproductive. Policy design must be imaginative and explicitly incorporate the political constraints and incentive problems specific to the region, leading to new approaches to enterprise and banking reform.
Book Synopsis Banks, Capital Markets and Corporate Governance: by : Gerhard Pohl
Download or read book Banks, Capital Markets and Corporate Governance: written by Gerhard Pohl and published by World Bank Publications. This book was released on 1994 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Transition in Central and Eastern Europe and the Former Soviet Union by : Kemal Dervis
Download or read book The Transition in Central and Eastern Europe and the Former Soviet Union written by Kemal Dervis and published by Washington, D.C. : World Bank. This book was released on 1994 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Eastern Europe's Experience with Banking Reform by : Alfredo E. Thorne
Download or read book Eastern Europe's Experience with Banking Reform written by Alfredo E. Thorne and published by World Bank Publications. This book was released on 1993 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effectiveness of banks in the transition depends on how soon authorities begin to restructure the banking system and how that restructuring fits into the sequence with enterprise restructuring and privatization.
Book Synopsis Financial Reform in Central and Eastern Europe by : A. W. Mullineux
Download or read book Financial Reform in Central and Eastern Europe written by A. W. Mullineux and published by Nova Publishers. This book was released on 1996 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains 3 major sections: 1: Monetary and Exchange Rate Policies in Poland and the ex-CSFR; 2: The Banking Sector and Enterprise Restructuring, including Privatisation and Hardening of Budget Constraints and the Micro Level; and 3: Bank Regulatory and Supervisory Issues.
Book Synopsis The New Europe: Evolving Economic and Financial Systems in East and West by : D.E. Fair
Download or read book The New Europe: Evolving Economic and Financial Systems in East and West written by D.E. Fair and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers collected in this volume are those presented at the seventeenth Collo quium arranged by the Societe Universitaire Europeenne de Recherches Financieres (SUERF), which took place in Berlin in October 1992. The Society is supported by a large number of central banks and commercial banks, by other fmancial and business institutions and by personal subscriptions from academics and others interested in monetary and fmancial problems. Since its establishment in 1963, it has developed as a forum for the exchange of information, research results and ideas among academics and practitioners in these fields, including central bank officials and civil servants responsible for formulating and applying monetary and financial policies, national and international. A major activity of SUERF is to organise and conduct Colloquia on subjects of topical interest to its members. The titles, places and dates of previous Colloqu~ for which volumes of the collected papers were published are noted on the last page of this volume.
Book Synopsis Restructuring Banks and Enterprises by : Michael S. Borish
Download or read book Restructuring Banks and Enterprises written by Michael S. Borish and published by Washington, D.C. : World Bank. This book was released on 1995 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Performance and Financial Sector Reform in Central and Eastern Europe by : A. W. Mullineux
Download or read book Economic Performance and Financial Sector Reform in Central and Eastern Europe written by A. W. Mullineux and published by Edward Elgar Publishing. This book was released on 1999 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Papers from a September 1996 conference held in Tallinn, Estonia, examine progress made on macroeconomic stabilization and financial sector reform in the transition economies of Central and Eastern Europe. They relate microeconomic experiences to the broader macroeconomic context of reform, and emphasize that macro reform is underpinned by micro and institutional reform, especially in the financial sphere. Subjects include bank and enterprise restructuring and implications for corporate governance and company performance, and the performance of fixed exchange rate regimes in the post- stabilization phase of transition. Annotation copyrighted by Book News, Inc., Portland, OR
Book Synopsis Bank Restructuring and Enterprise Reform by : Sweder van Wijnbergen
Download or read book Bank Restructuring and Enterprise Reform written by Sweder van Wijnbergen and published by . This book was released on 1998 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fact that enterprise reform and bank restructuring in eastern Europe are two intricately intertwined problems is by now abundantly clear and well documented. Firms in distress stop servicing their loans, and non-performing loans are at the root of the commercial banks' troubles. In turn, failure by unreformed banks to enforce loan contracts adequately gives firms incentives for lax loan servicing, completing the circle of causality. In this paper we set the stage by first outlining the arguments for and against the various approaches. We then discuss in particular the novel approach, implemented mostly in Poland, but use the Hungary and Slovenia evidence to put some of the key results in perspective and give some impression of how alternatives might have fared. Subscribe to publications email alerts.
Book Synopsis Banking Reform in Central Europe and the Former Soviet Union by : Jacek Rostowski
Download or read book Banking Reform in Central Europe and the Former Soviet Union written by Jacek Rostowski and published by Central European University Press. This book was released on 1995-06-01 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study analyzes the main requirements placed on Central and Eastern Europe's financial systems during their transition to a market economy. It assesses the financial reforms already carried out in the countries of Central Europe, their adaptations of Western institutional models, and the lessons to be drawn from their experiences for the "second wave" reformers in the former Soviet Union and the Balkans.
Author :Organisation for Economic Co-operation and Development Publisher :OECD Publishing ISBN 13 : Total Pages :392 pages Book Rating :4.F/5 ( download)
Book Synopsis The New Banking Landscape in Central and Eastern Europe by : Organisation for Economic Co-operation and Development
Download or read book The New Banking Landscape in Central and Eastern Europe written by Organisation for Economic Co-operation and Development and published by OECD Publishing. This book was released on 1997 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on the proceedings of a seminar jointly arranged by the OECD and the Vienna Institute for Comparative Economic Studies, which was held in Vienna 9-10 December 1996
Book Synopsis Enterprise Restructuring in the Transition by : Wendy Carlin
Download or read book Enterprise Restructuring in the Transition written by Wendy Carlin and published by . This book was released on 1994 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent empirical and theoretical work on the transition economies has emphasised the importance of internal bargaining and incentives. This paper constitutes, the first attempt to systematise the large and growing body of case studies of enterprise restructuring in Poland, Hungary, Slovakia, Russia and the Czech Republic. We begin from a framework in which the incentives and constraints on managers are crucial for the success of transforming enterprises into value maximising firms. The forms of, and the constraints on, active behaviour are examined for each enterprise across the dimensions of internal organisation, product and labour markets and investment.
Book Synopsis Transition by : European Bank for Reconstruction and Development
Download or read book Transition written by European Bank for Reconstruction and Development and published by . This book was released on 1994 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Governance in Central Europe by : Peter Dittus
Download or read book Corporate Governance in Central Europe written by Peter Dittus and published by . This book was released on 1994 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Banking Reforms in South-East Europe by : Zeliko Sevic
Download or read book Banking Reforms in South-East Europe written by Zeliko Sevic and published by Edward Elgar Publishing. This book was released on 2002 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banking Reforms in South-East Europe gives a critical and detailed overview of banking system restructuring in the transitional countries of South-Eastern Europe - Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Romania and Yugoslavia - and offers suggestions for future reforms. The book opens with a comparison of the experiences of Central European advanced transitional economies with those of the Balkan countries. Proposals are put forward for ways in which positive aspects of the Central European experience can be applied to banking reform in the Balkans. The authors examine the importance of regional collaboration for the overall economic and social transition in the region, and consider whether it can facilitate the next stage of banking reform. They also analyse the results of currency board arrangements as a possible alternative to classical central banking, using the experiences of Bulgaria, Bosnia and the Yugoslav Republic of Montenegro. The book concludes with an analysis of the experience of individual economies and consists of a number of country-specific banking studies, covering all the transitional economies of South-East Europe. The book will be of great interest to both scholars of transition economies and policymakers in finance and financial institutions.
