ADALBERT WINKLER is Head of Economics at Internationale Projekt Consult (IPC), Frankfurt am Main, and Senior Lecturer at the University of WUrzburg.

• List of Tables List of Figures Acknowledgements PART I: KEYNOTE ADDRESS Experience and Perspectives of Financial Sector Development in Central and Eastern Europe; L.Bokros PART II: THE GOVERNANCE OF BANKS IN EMERGING FINANCIAL SYSTEMS Is Foreign Control a Panacea? On Governance and Restructuring of Commercial Banks in Transition Economies; C.Buch Refinancing Banks in an Unstable Financial Environment: The KfW Experience; W.Neuhauss PART III: FINANCIAL CRISIS IN RETROSPECT Models of Financial Crisis? Can They Explain the 'Boom' of Financial Crises in Transition?; Z.Arvai & J.Vincze Promoting Financial Development and Preventing Crisis: Lessons from Poland; Z.Polanski The Role of the Financial Sector in Macroeconomic Adjustment Programmes; G.Bell PART IV: FINANCIAL DEVELOPMENT IN EASTERN EUROPE: LOOKING AHEAD 'EU Accession Countries: What Path to a Successful EMU Membership?'; P.Bofinger & T.Wollmershäuser Financial Institution Building: Only a Drop in the Ocean?; C.P.Zeitinger The Development of the Banking Sector in Eastern Europe: The Next Decade; C.Hainz & M.Schnitzer Index

ADALBERT WINKLER is Head of Economics at Internationale Projekt Consult (IPC), Frankfurt am Main, and Senior Lecturer at the University of WUrzburg.

• List of Tables List of Figures Acknowledgements PART I: KEYNOTE ADDRESS Experience and Perspectives of Financial Sector Development in Central and Eastern Europe; L.Bokros PART II: THE GOVERNANCE OF BANKS IN EMERGING FINANCIAL SYSTEMS Is Foreign Control a Panacea? On Governance and Restructuring of Commercial Banks in Transition Economies; C.Buch Refinancing Banks in an Unstable Financial Environment: The KfW Experience; W.Neuhauss PART III: FINANCIAL CRISIS IN RETROSPECT Models of Financial Crisis? Can They Explain the 'Boom' of Financial Crises in Transition?; Z.Arvai & J.Vincze Promoting Financial Development and Preventing Crisis: Lessons from Poland; Z.Polanski The Role of the Financial Sector in Macroeconomic Adjustment Programmes; G.Bell PART IV: FINANCIAL DEVELOPMENT IN EASTERN EUROPE: LOOKING AHEAD 'EU Accession Countries: What Path to a Successful EMU Membership?'; P.Bofinger & T.Wollmershäuser Financial Institution Building: Only a Drop in the Ocean?; C.P.Zeitinger The Development of the Banking Sector in Eastern Europe: The Next Decade; C.Hainz & M.Schnitzer Index

ADALBERT WINKLER is Head of Economics at Internationale Projekt Consult (IPC), Frankfurt am Main, and Senior Lecturer at the University of WUrzburg.

• List of Tables List of Figures Acknowledgements PART I: KEYNOTE ADDRESS Experience and Perspectives of Financial Sector Development in Central and Eastern Europe; L.Bokros PART II: THE GOVERNANCE OF BANKS IN EMERGING FINANCIAL SYSTEMS Is Foreign Control a Panacea? On Governance and Restructuring of Commercial Banks in Transition Economies; C.Buch Refinancing Banks in an Unstable Financial Environment: The KfW Experience; W.Neuhauss PART III: FINANCIAL CRISIS IN RETROSPECT Models of Financial Crisis? Can They Explain the 'Boom' of Financial Crises in Transition?; Z.Arvai & J.Vincze Promoting Financial Development and Preventing Crisis: Lessons from Poland; Z.Polanski The Role of the Financial Sector in Macroeconomic Adjustment Programmes; G.Bell PART IV: FINANCIAL DEVELOPMENT IN EASTERN EUROPE: LOOKING AHEAD 'EU Accession Countries: What Path to a Successful EMU Membership?'; P.Bofinger & T.Wollmershäuser Financial Institution Building: Only a Drop in the Ocean?; C.P.Zeitinger The Development of the Banking Sector in Eastern Europe: The Next Decade; C.Hainz & M.Schnitzer Index