The primary function of banks during economic transformation is seen to be provision of an efficient payments mechanism. The lack of banking skills, particularly in credit allocation, is seen as the major problem in stable monetary systems. This is a problem which can be expected to last many...

Gegenstand der Untersuchung ist der Verlauf der Reform des Bankensektors in Staaten mit fortgeschrittener marktorientierter Transformation, vor allem Ungarn und Polen. Der Verfasser stellt zunächst das hier angewandte dreistufige Reformmodell dar (Aufspaltung der Staatsbank in staatliche...

The paper first considers why central European countries wish to join EMU soon. The main reasons are the risk of macroeconomic instability they face outside the euro zone if they wish to grow quickly. At the same time, Central Europe is highly integrated as regards trade with EMU, so it is...