Istvan P. Szekely – författare

The economic transformation of Hungary has reached a critical stage. Hungary has succeeded in attracting foreign capital, and has achieved its first current account surplus in convertible currency since 1984, despite upheavals, but the privatization process has reached a crucial stage. It is clear that it will be a lengthy and difficult process, with significant repercussions for the future of the economy and profound social and welfare consequences. This book presents some of the local arguments and perceptions informing the debate, and critical examination of these ideas from an international panel of scholars. The chapters address privatization; financial, tax and legal systems; integration into the international financial and monetary systems; labour markets, unemployment and the social safety net; and the political economy of the current economic transformation.

The introduction of effective, competitive and innovative financial systems will be a key factor in the economic success, or failure, of Central and Eastern Europe. This important volume presents a comprehensive, up-to-date analysis of the development of financial systems in the region with contributions from leading researchers and bankers.An overview of recent developments and discussion of some of the major issues - including central bank independence, bank privatization and bankruptcy regulations - is followed by discussion of the conditions for and likely consequences of financial liberalization in Central and Eastern Europe. The contributors draw upon the experience of Austria and Finland, two West European countries that recently accomplished full financial liberalization. The final section includes a series of specific regional studies on the results and problems of financial reform in the Czech Republic, Hungary and Poland, three leading reforming countries, and Bulgaria, one of the ‘second wave’ of transitional economies.Providing an authoritative review of current trends, The Development and Reform of Financial Systems in Central and Eastern Europe makes a unique contribution to a neglected area in the literature on economic transformation and development in former command economies.

The process of transition from a centrally planned economy to one driven primarily by market forces has been a source of controversy and debate. Although the pace and approach has varied we are now beginning to understand some of the essential ingredients necessary for a successful transition.These changes have produced a tremendous quantity of literature which can make it difficult to grasp the most important issues. This book focuses on the key questions and problems facing the monetary and financial sectors of transitional economies, specifically in Hungary, Poland and the Czech Republic. It examines many of the reforms, why these proved necessary, and their impact in the early stages of transition. The authors focus on four main themes: the removal of state intervention and its effect on liquidity and the availability of creditthe failure of credit markets and the implications for corporate finance

Banking in Transition Economies is a modern analysis of banking in the transition economies of Central and Eastern Europe and includes a detailed examination of banking in the first five years of transition as well as policy recommendations for banking reform in the region.This authoritative book presents an extensive investigation of changes in the structure of the banking industry and the progress of privatization, particularly in Hungary, Poland and the Czech Republic. Privatization and the restructuring of 'problem banks' are analysed as well as the strategy for re-capitalization and bank failure, and the role of foreign banks in bringing reform to the region. The book offers policy prescriptions for the transition from a passive banking structure to an active financial sector supporting the development of the industrial sector, and for the role of the state after privatization.This book will be of great importance to bankers in Central and Eastern Europe and economists interested in the process of transition, as well as financial and monetary economists.

This edited volume analyses how EU membership influenced the convergence process of member countries in the Baltics, Central-Eastern and South-Eastern Europe.

This edited volume analyses how EU membership influenced the convergence process of member countries in the Baltics, Central-Eastern and South-Eastern Europe.

This edited volume analyses the channels through which EU membership contributed to the convergence process of member countries in the Baltics, Central-Eastern and South-Eastern Europe.

This edited volume analyses the channels through which EU membership contributed to the convergence process of member countries in the Baltics, Central-Eastern and South-Eastern Europe.

The European Union has reached a crossroads. Its future development — even its very survival — faces fundamental challenges in a rapidly changing global environment. The EU’s genuine renewal can no longer be postponed. This open-access book offers a new narrative for European integration that recognises the heterogeneity of the member states, particularly as the Union expands to include the Western Balkans, Ukraine, Georgia, and Moldova. Contributions from leading academic and policy experts discuss the reforms and policies needed to address these challenges and harness emerging opportunities. By considering economic, social, institutional, and environmental aspects of development, the book presents a vision for a fair and sustainable European Union. It focuses on economic prosperity, the green transition, global geopolitics, social protection, innovation, and institutional reforms. In an era of geoeconomic fragmentation, the EU’s unity and effective action are imperative. This book will be relevant to students, researchers, and policymakers interested in comparative and international economics and European studies.