Financial Reforms in East European Countries: A Framework with Application to Poland (Routledge Studies of Societies in Transition, 6)

This book presents a model which simulates the effects of financial reforms in transitional economies, which is then applied to Poland for a variety of policy simulations. The authors develop models for households, commerical banks and firms, expanding their enquiry into the government sector, the central banking sector, the external sector and finally the supply side. These sub-sector models explicitly incorporate institutional features specific to the Polish economy. The estimated model is used to simulate the effects of a wide array of financial policies introduced in Poland, and these results are then used to assess the effectiveness of the policies analyzed. This timely and authoritative study sheds new light on how a country's overall economic system responds when it pursues a 'big-bang' approach to marketization. BOOK COVER......Page 1 HALF-TITLE......Page 2 SERIES-TITLE......Page 3 TITLE......Page 4 COPYRIGHT......Page 5 DEDICATION......Page 6 CONTENTS......Page 7 LIST OF FIGURES......Page 8 LIST OF TABLES......Page 12 ACKNOWLEDGEMENTS......Page 14 1 INTRODUCTION......Page 16 2 A STATISTICAL OVERVIEW......Page 22 3 COMMERCIAL BANKS......Page 31 4 HOUSEHOLDS......Page 57 5 THE FIRM......Page 82 6 THE COMPLETE MODEL......Page 104 7 SOME POLICY SIMULATIONS......Page 130 8 SUMMARY AND CONCLUSIONS......Page 148 APPENDIX......Page 152 NOTES AND APPENDICES......Page 187 BIBLIOGRAPHY......Page 205 INDEX......Page 211 This book presents a model which simulates the effects of financial reforms in transitional economies, which is then applied to Poland for a variety of policy simulations. The authors develop models for households, commercial banks and firms, expanding their enquiry into the government sector, the central banking sector, the external sector and finally the supply side. These sub-sector models explicitly incorporate institutional features specific to the Polish economy. The estimated model is used to simulate the effects of a wide array of financial policies introduced in Poland, and these resu This book presents a valuable model for simulating the effects of financial reforms in transitional economies. Poland is used as a case study to show the effectiveness of the variety of policy simulations offered by this model. Ever since the demise of the former Soviet Union, the economies of Central and East European countries have drawn considerable attention.