Many of the distortions in poorly performing economies do not originate in the banking sector, but where state banks still control a large share of the resources in the banking system, they continue to pose a risk to macroeconomic and fiscal stability. State banks are typically vehicles for...

The study reviews the performance of four transition countries - Albania, Azerbaijan, the Kyrgyz Republic, and Moldova - in the areas of private, and financial sector development, identifying both their achievements, and challenges, to extract beneficial reform efforts, and alternative...

This paper assesses the role of non-bank financial institutions and capital markets in the financial sectors of the eight first-wave of Eastern European EU accession countries (the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, and Slovenia), the current state of...

Intro -- TABLE OF CONTENTS -- Abstract -- Acknowledgments -- Acronyms -- 1. Introduction -- 2. The Importance of Non-bank Financial Institutions and Capital Markets -- 3. NBFIs and Capital Markets in Accession Countries: Current Status and Key Challenges -- The Role of Further Banking System...