The article reviews the reform of and current trends in the Hungarian banking system and draws some lessons that can be useful for countries less advanced in the transition process. The author argues that since in transition economies the weak financial position of state enterprises has been one...

This paper assesses the impact of the 2008–2009 global financial and economic crisis on the medium-term growth prospects of the countries of Central and Eastern Europe, the Caucasus and Central Asia, which began an economic transition about two decades ago. We use cross-country growth...