Three issues discussed in the Bottazzi and Giavazzi paper are highly relevant also for the EU accession countries (ACs): financing patterns of firms, home bias in investment portfolios, and consolidation of the financial industry. In this paper I will address the present state of affairs as well as possible developments in these areas in ACs.
Caviglia, Giacomo, Gerhard Krause, and Christian Thimann, 2002, “Key Features of the Financial Sectors in EU Accession Countries,” in Financial Sectors in EU Accession Countries, ed. by Christian Thimann (Frankfurt: European Central Bank).
Claessens, Stijn, Simeon Djankov, and Daniela Klingebiel, 2000, Stock Markets in Transition Economies, World Bank Financial Sector Discussion Paper No. 5 (Washington: World Bank).
Claessens, Stijn, Ruben Lee, and Josef Zechner, 2003, The Future of Stock Exchanges in European Union Accession Countries (London: Centre for Economic Policy Research).
Deloitte & Touche. Future of Banking in Central Europe, 2000 (Budapest: Deloitte & Touche).
European Bank for Reconstruction and Development, 2003, Transition Report: Integration and Regional Cooperation (London). Available via the Internet: http://www.ebrd.com.
European Central Bank, 2003, EU Banking Sector Stability (Frankfurt).
Hughes, Patrick, 2002, “EU Accession Countries and the Finance Sector,” Banking Ireland (Autumn), p. 12.
Mihályi, Peter, 2002, The Growing Irrelevance of Corporate Governance in Transition Economies (Budapest: East-West Management Institute).
Padoa-Schioppa, Tommaso, 2002, “The Importance of Financial Sector Developments in EU Accession Countries,” in Financial Sectors in EU Accession Countries, ed. by Christian Thimann (Frankfurt: European Central Bank).
Pistor, Katharina, Martin Raiser, and Stanislaw Gelfer, 2000, “Law and Finance in Transition Economies,” CID Working Paper No. 49 (Cambridge, Massachusetts: Center for International Development at Harvard University).
International Monetary Fund Copyright © 2010-2021. All Rights Reserved.