By S. Poloucek
The research during this booklet displays a number of facets of economic region transformation in chosen significant eu international locations which are anticipated to affix the european in 2004. The authors are critical ecu monetary specialists who offer, between different issues, an in depth review of the next major subject matters: Banking legislation and Supervision; focus and potency of the Banking Sectors; monetary (banking) crises in chosen significant ecu international locations; and fiscal and trade price improvement. the result of the examine performed via those authors mirror a fascinating truth: that there exist very important alterations within the monetary zone improvement even within the rather homogeneous team of chosen significant ecu nations, specifically the Czech Republic, Poland, Slovakia and Hungary.
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Extra info for Reforming the Financial Sector in Central European Countries (Studies in Economic Transition)
Example text
7 Size of financial sectors in selected developed countries (% of GDP, 2000) * 1999 Source: Authors’ calculations based on World Bank, World Development Indicators, 2001. 8 Size of financial sectors in CEC (% of GDP, 2000) Source: Authors’ calculations. 7 since it exceeds 550 per cent [126 ϩ 330 ϩ 102 per cent]). 8 in only two other countries (Slovakia and Hungary), illustrating that all the CEC, with the exception of Poland, represent the transition countries with the largest financial sector.
The banking sector is, therefore, an integral part of the monetary transmission mechanism. On the other hand, the central bank influences the banking sector through its monetary instruments. Banking regulation applies a wide variety of indicators to the prudent behaviour of banks, for example, liquidity, capital adequacy and loan classification, as well as creation of adequate revisions and restrictions on credit involvement. For example, a change (rise) in the capital adequacy of banks can lead to stagnation of asset growth, or a decline in growth, which, as a result, restricts the flow of money into the economy even in the presence of expanding monetary policy.
16 Average assets per commercial bank in CEC (USD mn, 1996–2001) Source: Authors’ calculations. The Polish banking sector differs somewhat from its Czech counterpart, not only because the Polish economy is noticeably larger, but also because there are more banks in its banking system. As data and further analysis confirm, it has a considerably lower concentration in its banking sector (see Chapter 3). In the Slovak Republic and Hungary, the indicator is much lower. Both countries demonstrate that the average 24 Reforming the Financial Sector in CEC volume of assets per commercial bank is lower than the CEC average.