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The Role Of Financial Markets In The Transition Process
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Book Synopsis The Role of Financial Markets in the Transition Process by : Emilio Colombo
Download or read book The Role of Financial Markets in the Transition Process written by Emilio Colombo and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Markets play an important role in economic development, channeling saving to investments and facilitating growth. In Eastern Europe financial markets were initially much underdeveloped, and lacked the skills and infrastructure they needed to be efficient, having not acquired them in the pre-transition era. The book offers a both theoretical and empirical analysis of financial markets in transitional economies. It investigates financial markets in Hungary, the Czech Republic, and Poland, and their role in the developments in the 1990s.
Book Synopsis The Role of Financial Institutions in the Transition to a Market Economy by : Mr.Michael G. Spencer
Download or read book The Role of Financial Institutions in the Transition to a Market Economy written by Mr.Michael G. Spencer and published by International Monetary Fund. This book was released on 1993-10-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial institutions intermediate between savers and investors and contribute to corporate governance. Equity and bond markets in the former centrally planned economies are not yet in a position adequately to provide these services. It is not yet clear that investment funds will provide the necessary financing and corporate management. Therefore the first priority for financial sector reforms must be to establish a healthy commercial banking sector. Banks are the most promising source of financing, provide payment services which are crucial to both the real and financial sectors and, by monitoring the use of loaned funds, will be the primary source of corporate governance during the transformation to a market economy.
Book Synopsis Financial Market Imperfections and Corporate Decisions by : Emilio Colombo
Download or read book Financial Market Imperfections and Corporate Decisions written by Emilio Colombo and published by Physica. This book was released on 2009-09-03 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: We would like to thank Akos Valentinyi and Mark Schaffer for their advice on various stages of this research project. We also would like to thank our col leagues at the Department of Economics of the University of Milan - Bicocca for their advice and support. This book is the result of a long term project financed by various research grants: in particular the Phare-Ace programme (Project P-96-6151-R) and a research grant from the Italian Ministry of Education under the young researchers scheme. Milan, March 2005 Emilio Colombo Luca Stanca Contents Introduction 1 Financial market imperfections and corporate decisions: theory and evidence 7 2. 1 Introduction 7 2. 2 Financial market imperfections, investment and cycles 9 2. 2. 1 The Stiglitz view 9 2. 2. 2 Agency costs and macroeconomic fluctuations 15 2. 2. 3 Assessing the differences 18 2. 2. 4 Further developments 20 2. 2. 5 Empirical evidence 22 2. 3 Financial market imperfections and corporate capital structure 24 2. 3. 1 Asymmetric information and capital structure choice . . 25 2. 3. 2 Agency costs and capital structure choice 30 2. 3. 3 Empirical evidence 32 The transformation of the Hungarian financial system 35 3. 1 Introduction 35 3. 2 Macroeconomic background 36 3. 3 Liberalisation, privatisation and financial development 44 3. 3. 1 Banking and credit 45 3. 3. 2 Equity market 48 3. 3. 3 Foreign direct investment 49 3. 4 Financial sector reform 50 3. 4.
Book Synopsis Equity Markets in Transition by : Reto Francioni
Download or read book Equity Markets in Transition written by Reto Francioni and published by Springer. This book was released on 2017-01-17 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book underscores the complexity of the equity markets, the challenges they face, and the fact that they are still a work in process. Three interacting forces drive market change: competition, technology change, and regulatory change. The markets have one major objective in particular to achieve: the delivery of accurate price discovery for both traders and the broader market. Are we getting it? Are competition, technology, and regulation acting together to improve market quality, or are they adding to the complexity of the markets and making accurate price discovery harder to achieve? The difficulty of addressing these issues and reaching a consensus regarding public policy is reflected in the diverse opinions expressed in this book. From an institutional perspective, the volume’s contributors highlight the interconnectedness of all aspects of the internal and external environment within which exchange organizations act. Equity Markets in Transition underscores how technological evolution and recent regulatory changes have influenced the business, and how these developments have opened new possibilities for exchange organizations and for equity markets as a whole, including such issues as the impact of equity markets on job creation. The book combines both a theoretical and a practical approach. Part I presents a theoretical overview of the international equity market business, including an overall description of the value chain of stock trading that includes deep dives on every decisive step. Part II contains contributions from various business specialists who have specific practical and academic knowledge of the different steps. Equity Markets in Transition represents a unique combination of theoretical and practical analysis that offers first-hand insights on all relevant interactions and interrelations among the various parts of the exchange business, with an emphasis on facilitating analysis of the status quo and of emerging trends regarding business models, regulation, and the development of the competitor, customer and investor sides.
Book Synopsis Financial Markets in Transition by : Lars Oxelheim
Download or read book Financial Markets in Transition written by Lars Oxelheim and published by Arden Shakespeare. This book was released on 1996 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: Looks at the process of transition from independent national financial markets to a more integrated, globalized market and the key factors that lie behind growth, change and competitive success.
Book Synopsis Financial Markets in Central and Eastern Europe by : Morten Balling
Download or read book Financial Markets in Central and Eastern Europe written by Morten Balling and published by Routledge. This book was released on 2004-08-02 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: The countries of Central and Eastern Europe have been through a profound transition process for more than a decade now. The financial sectors and markets in the region have been subject to major structural reforms including privatization, liberalization and the acquisition by foreign banks of controlling interests in local financial institutions. This important new book includes papers that chart this process. Topics discussed include the implications of future EU membership, and the strategies pursued by the World Bank and International Monetary Fund.
Book Synopsis The role of financial institutions in the transition to a market economy by : Hans J... Blommestein
Download or read book The role of financial institutions in the transition to a market economy written by Hans J... Blommestein and published by . This book was released on 1993 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Market Imperfections and Corporate Decisions by : Emilio Colombo
Download or read book Financial Market Imperfections and Corporate Decisions written by Emilio Colombo and published by Springer Science & Business Media. This book was released on 2006-01-27 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: We would like to thank Akos Valentinyi and Mark Schaffer for their advice on various stages of this research project. We also would like to thank our col leagues at the Department of Economics of the University of Milan - Bicocca for their advice and support. This book is the result of a long term project financed by various research grants: in particular the Phare-Ace programme (Project P-96-6151-R) and a research grant from the Italian Ministry of Education under the young researchers scheme. Milan, March 2005 Emilio Colombo Luca Stanca Contents Introduction 1 Financial market imperfections and corporate decisions: theory and evidence 7 2. 1 Introduction 7 2. 2 Financial market imperfections, investment and cycles 9 2. 2. 1 The Stiglitz view 9 2. 2. 2 Agency costs and macroeconomic fluctuations 15 2. 2. 3 Assessing the differences 18 2. 2. 4 Further developments 20 2. 2. 5 Empirical evidence 22 2. 3 Financial market imperfections and corporate capital structure 24 2. 3. 1 Asymmetric information and capital structure choice . . 25 2. 3. 2 Agency costs and capital structure choice 30 2. 3. 3 Empirical evidence 32 The transformation of the Hungarian financial system 35 3. 1 Introduction 35 3. 2 Macroeconomic background 36 3. 3 Liberalisation, privatisation and financial development 44 3. 3. 1 Banking and credit 45 3. 3. 2 Equity market 48 3. 3. 3 Foreign direct investment 49 3. 4 Financial sector reform 50 3. 4.
Book Synopsis Transitional Economies by : Y. Kalyuzhnova
Download or read book Transitional Economies written by Y. Kalyuzhnova and published by Springer. This book was released on 2001-07-19 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The integration of the countries of Central and Eastern Europe and the Commonwealth of Independent States international financial system was arguably one of the most profound changes experienced by the world economy in the 1990s. This book examines these countries in reforming their financial systems in the first decade of transition. Through case studies as well as more thematic approaches contributors deal with crucial elements of building a market-based financial system, the transformation of the banking sector, and non-bank reform and regulation of financial markets. They emphasise the importance of institution-building to the process of financial sector transformation and highlight the lessons to be learned from transitional financial experiences.
Book Synopsis The Transition of Finance in Japan and the United States: A Comparative Perspective by : Thomas F. Cargill
Download or read book The Transition of Finance in Japan and the United States: A Comparative Perspective written by Thomas F. Cargill and published by Hoover Press. This book was released on 1988 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Market Restructuring in Selected Central European Countries by : Karen S. Vorst
Download or read book Financial Market Restructuring in Selected Central European Countries written by Karen S. Vorst and published by Routledge. This book was released on 2018-09-18 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Published in 1998, this book provides detailed information on the financial markets in selected Central European transitioning economies. The independent countries selected for study in the text are Poland, Hungary, the Czech Republic and the Slovak Republic. The former East Germany is also include due to its proximity to the above countries and its unique experience in the transition process. Each country's section of the book contains articles written by professionals in the selected country. These individuals are economists, central bankers and/or analysts who have first-hand knowledge of the financial system. Each section details: the development in the banking sector plus the role of the central bank and the government in guiding the economy toward the market system; discuses the emerging capital markets and the ongoing process of privatization; and provides an update of the economic progress toward a market system that has been achieved since 1989.
Book Synopsis International Capital Markets by : John Eatwell
Download or read book International Capital Markets written by John Eatwell and published by Oxford University Press, USA. This book was released on 2002 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprising 19 commissioned articles, this collection addresses the global issues of volatility in equity and foreign exchange markets and the regulatory scene in developed and emerging markets.
Book Synopsis Money, Banking and Financial Markets in Central and Eastern Europe by : R. Matousek
Download or read book Money, Banking and Financial Markets in Central and Eastern Europe written by R. Matousek and published by Springer. This book was released on 2010-11-03 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a deep insight into the market changes and policy challenges that transition economies have undergone in the last twenty years. It not only comments on and evaluates the development of financial markets in transition economies, but also highlights the key obstacles to full integration of financial markets into the EU market.
Book Synopsis The Role of Credit Markets in a Transition Economy with Incomplete Public Information by : Kenneth Kletzer
Download or read book The Role of Credit Markets in a Transition Economy with Incomplete Public Information written by Kenneth Kletzer and published by International Monetary Fund. This book was released on 1996-02 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we explore some of the informational problems that constrain the development of credit markets in transition economies. We characterize investment patterns under uncertainty and high costs of entry, when agents learn about the ultimate value of enterprises through production in a Bayesian way. Inefficiencies due to the lack of public information reduce the average return to capital. Under asymmetric information, credit would go to activities that can provide enough co-finance. Credit markets may fail to develop for a while if there is not enough individual wealth to complement credit. Once they operate, credit markets may magnify distortions in equity markets, such as those due to spontaneous privatization. An argument for the sequencing of capital market liberalization is provided.
Author :Colloquium on "Stability and Efficiency of Financial Markets in Central and Eastern Europe" Publisher : ISBN 13 :9780203691847 Total Pages :401 pages Book Rating :4.6/5 (918 download)
Book Synopsis Financial Markets in Central and Eastern Europe by : Colloquium on "Stability and Efficiency of Financial Markets in Central and Eastern Europe"
Download or read book Financial Markets in Central and Eastern Europe written by Colloquium on "Stability and Efficiency of Financial Markets in Central and Eastern Europe" and published by . This book was released on 2004 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: The countries of Central and Eastern Europe have been through a profound transition process for more than a decade now. The financial sectors and markets in the region have been subject to major structural reforms including privatization, liberalization and the acquisition by foreign banks of controlling interests in local financial institutions.This important new book includes papers that chart this process. Topics discussed include the implications of future EU membership, and the strategies pursued by the World Bank and International Monetary Fund.
Book Synopsis Economic Transition in Central Europe and the Commonwealth of Independent States by : T. Mickiewicz
Download or read book Economic Transition in Central Europe and the Commonwealth of Independent States written by T. Mickiewicz and published by Springer. This book was released on 2005-11-11 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fifteen years ago, twenty-seven countries in Europe and Central Asia embarked on their economic transition paths. For some, the outcome was a considerable success. Several others are still struggling to shed the inheritance of the past and to correct more recent policy mistakes. Why were post-Communist recessions so long in some countries and growth disappointing? Why was fiscal performance so different? Was democracy a factor, which facilitated reforms or rather slowed them down? This book discusses these questions in the context of new empirical evidence, including a critical examination of the main themes in the economics of transition literature.
Book Synopsis Economics of Institutional Change by : Tomasz Mickiewicz
Download or read book Economics of Institutional Change written by Tomasz Mickiewicz and published by Springer. This book was released on 2010-08-11 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, a second edition, has been significantly expanded and updated. It revisits the process of institutional change: its characteristics, determinants and implications for economic performance.
