The Role of Financial Markets in the Transition Process
[Book]
edited by Emilio Colombo, John Driffill.
Heidelberg
Physica-Verlag HD : Imprint : Physica
2003
(vii, 225 pages 39 illustrations)
Contributions to economics.
E. Colombo, J. Driffill: Financial Markets and Transition --;J. Driffill, T. Mickiewicz: The Order of Financial Liberalisation. Lessons from the Polish Experience --;F. Carmignani: Economic and Financial Transition in Hungary --;D. Delli Gatti, R. Longaretti: Endogenous Startups, Financial Conditions, and Capital Accumulation --;E. Colombo, A. Valentinyi: Wealth Distribution, Occupational Choice and the Behaviour of the Interest Rate --;M. Lossani, P. Tirelli: Financial Instability in the Transition Economies. Lesson from East (Asia) for (East) Europe --;L. Papi, D. Revoltella: Foreign Direct Investment in the Banking Sector. Experiences and Lessons from CEECs --;E. Colombo, D. Revoltella: Corporate Capital Structure in Transition. Evidence from Hungarian and Czech Firms.
Financial Markets play an important role in economic development, channeling saving to investments and facilitating growth. In Eastern Europe financial markets were initially much underdeveloped, and lacked the skills and infrastructure they needed to be efficient, having not acquired them in the pre-transition era.