This article deals with the analysis of the mean reversion property of short-term interest rates in Central and Eastern European countries, using daily data from January 2000 to December 2008. For this purpose, we use long memory (fractionally integrated) models, and employ non-parametric,...

This paper analyzes the productivity and efficiency of Shinkin banks and the various prefectures in Japan, over the period from 2000 to 2006. We obtain estimates of efficiency growth and productivity growth, using the bootstrapped Malmquist index, and estimates of efficiency using the Bayesian...

This paper carries out a systematic empirical investigation of the bank lending channel of monetary transmission in the 8 CEE countries which have joined the EU: Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovak Republic and Slovenia. We examine in particular whether the impact...

This paper focuses on the current issues linked to the goals of banking regulation and supervision. The banking supervision policy carried out in transition countries – Central and Eastern Europe – takes into account a range of specific phenomena. The key distinctive factor of...

This is a study of what asset price can tell us about the evolving credibility of the monetary policy of the Czech National Bank (CNB). From the beginning of the 1990s, several market economies adopted direct inflation targeting (DIT). The focus of our analysis is to examine the effect of...

Potential new entrants to the European Union from Central and Eastern European countries face many challenges to achieve financial convergence with the existing EU nations. Using detailed case studies from Bulgaria, the Czech Republic, Latvia, Lithuania and Poland and analysis of cross country...

This paper investigates the process of banking integration in the EU15 countries and the Eurozone by testing for convergence in bank efficiency among commercial banks. We use a two-step approach: First we estimate efficiency by applying an innovative methodological approach that treats banks’...