Central and Eastern European countries have built up financial systems adapted to market economies. The stability and efficiency of these systems are essential to their economic development and competitiveness. Many of the countries are also EU accession countries in the process of transforming their legal and institutional infrastructure towards Western European standards. Most of the accession countries are aiming at becoming EMU-members and want to replace their currencies by the Euro within a few years.
Among the topics analyzed in this book are:
* The efficiency of domestic...

Financial services firms play a key role in the European economy. The efficiency and profitability of these firms and the competition among them have an impact on allocation of savings, financing of investment, economic growth, the stability of the financial system and the transmission of monetary policy.

This collection of research contributions includes evaluations of trends in the European financial service industry and examinations of the driving forces of efficiency, competition and profitability of financial firms and institutions in Europe. The papers have been...

The financial environment in Europe is changing rapidly. Increasing integration in the EC is creating a new set of challenges and opportunities for the European business community. Financial Management in the New Europe is a guide to financial management under adopted and proposed EC initiatives.

for many years been heavily dependent on bank financing, and this situation has not changed fundamentally. In his paper on stock exchange governance in the European Union Guido Ferrarini discusses the relative merits of member and investor ownership and compares stock exchange regulation in a number of EU countries. Faced with increasing competition amongst themselves and against other enterprises that offer transaction services, such as proprietary trading systems, it is essential for European stock exchanges to improve their efficiency and to generate volume. Large investments in new...

Financial services firms play a key role in the European economy. The efficiency and profitability of these firms and the competition among them have an impact on allocation of savings, financing of investment, economic growth, the stability of the financial system and the transmission of monetary policy.

This collection of research contributions includes evaluations of trends in the European financial service industry and examinations of the driving forces of efficiency, competition and profitability of financial firms and institutions in Europe. The papers have been...

for many years been heavily dependent on bank financing, and this situation has not changed fundamentally. In his paper on stock exchange governance in the European Union Guido Ferrarini discusses the relative merits of member and investor ownership and compares stock exchange regulation in a number of EU countries. Faced with increasing competition amongst themselves and against other enterprises that offer transaction services, such as proprietary trading systems, it is essential for European stock exchanges to improve their efficiency and to generate volume. Large investments in new...

A profound transition process has affected the financial sectors & markets in Central & Eastern Europe over the past decade or more. This collection charts progress to date & discusses the implications of future EU membership, as well as the strategies pursued by the World Bank & International Monetary Fund.