Transitional Economies

DOUGLAS ARNER Sir John Lubbock Support Fund Fellow, Centre for Commercial Law Studies, Queen Mary and Westfield College, London ALEX FLEMING Lead Financial Economist, World Bank's Europe and Central Asian Regional Office JOSEPH NORTON Sir John Lubbock Professor of Banking Law, Centre for Commercial Law Studies, Queen Mary and Westfield College, London ALAN ROBERTS Lecturer in International Accounting, University of Reading ANIMESH SHRIVASTAVA Deputy Director, Centre for Euro-Asian Studies, Department of Economics, Reading University KRYSTYNA SZYMKIEWICZ Researcher, C.N.R.S, University Paris 1, Sorbonne GEORGE TRIDIMAS Lecturer, Department of Economics, University of Reading.

• Dedication List of Tables and Figures Foreword List of Abbreviation Notes on the Contributors Introduction; Y.Kalyuzhnova & M.Taylor Developing Market Institutions in Transitional Economies; A.Shrivastava PART I: THE DEVELOPMENT OF THE BANKING SECTOR Bad Loans as Alternatives to Fiscal Transfers in Transition Economies; G.Tridimas Banking Transformations in Poland; K.Szymkiewicz PART II: NON-BANK REFORMS AND DEVELOPMENT OF FINANCIAL SECTOR Development of Capital Markets, Stock Exchanges and Securities Regulation in Transition Economies; J.Norton & D.Arner The Romanian Accounting Reforms: Another Case of Cultural Intrusion?; A.Roberts Reforming Pension System in Transitional Economies: Case Study Kazakhstan; Y.Kalyuzhnova PART III: SUPERVISION AND REGULATION OF FINANCIAL MARKETS International Standards and the Transitional Economies; D.Arner Building Supervisory Capacity in the Transition Economies; M.Taylor Conclusion; Y.Kalyuzhnova & M.Taylor Index