Designing Financial Systems设计金融系统：中东欧改革策略
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作者： Anna Meyendorff 著
出 版 社：
出版时间： 2002-7-7字数：版次： 1页数： 311印刷时间： 2002/07/07开本： 16开印次： 1纸张： 胶版纸I S B N ： 9780262133913包装： 精装内容简介
This collection examines the design of financial systems for central and eastern European countries engaged in the transition to market-based economies. It highlights the need for better approaches to measuring performance and providing incentives in banking and for financial mechanisms to encourage private-sector growth. Written by leading European and North American scholars, the essays apply modern finance theory and empirical data to the development of new financial sectors.
Two broad themes emerge. The first is the critical relationship between reforms in the financial sector and in the real economy. Lending policies, which have a significant impact on business performance, need to discourage bad firm performance without prematurely liquidating potentially profitable enterprises. Conversely, the quality of firms influences the financial sector. If banks cannot find good credit risks, they cannot improve the quality of their portfolios. Until a critical mass of viable firms is built, equity markets will not develop sufficiently. The second theme is that the lack of fully developed markets and institutions may distort the policy outcomes predicted under models based on fully developed economies. Reliance on these models may therefore be inappropriate for transition economies.
目录
1 Introduction：Financial Systems in Transition
Anna Meyendorff and Anjan Thakor
2 Banks’Bad Debts：Policies，Creditor Passivity，and Soft BudgetCons仃aints
Janet Mitchell
3 0n the Design of Bank Bailout Policy in Transition Economies
Philippe Aghion，Patrick Bolton，and Steven Fries
4 Revisiting Hungary’S Bankruptcy Episode
John Bonin and Mark E．Schatier
5 Tax Avoidance and the Allocation of Credit
Anna Meyendorff
6 Franchise Value and the Dynamics of Financial Liberation
Thomas Hellmann，Kevin Murdock，and Joseph Stiglitz
7 Bank Liquidity Provision and Capitol Regulation in TransitionEconomies
Gary Gorton and Andrew Winton
8 Financial System Reform in Emerging Economies：The Case ofRomania
Anna Meyendorff and Anjan Thakor
9 Should Banks Have the Power to Enter AU Financial Businesses?
Raghuram G．Rajan
10 Effects of Ownership by Investment Funds on the Performance of Czech Firms
Andrew Weiss and Georgiy Nikitin
11 Financial Conditions and Investment during the Transition：Evidence
from Czech Firms
Lubomir Lizal and Jan Svejnar
12 Conglomeration in Bankin9：Incentives and Market Discipline
Arnoud Boot and Anjolein Schmeits
13 financial Reallocaion in Russian Groups
Enrico.c.perotti and stanislav Gelfer
Index
