Incluye bibliografía

Foreword -- Preface -- Acknowledgments -- Contributors -- Overview -- Pt. 1: Global financial markets and the transition economies: 1. Transition economies in the evolving global financial markets / Jacques de Larosir̈e -- 2. Financial integration in Western Europe: can the east catch up? / Tommaso Padoa-Schioppa -- Pt. 2: Financial sector development in perspective: 3. A perspective on financial sector development in Central and Eastern Europe / Lajos Bokros -- 4. Challenges of financial system development in transition economies / Stefan Kawalec and Krzysztof Kluza -- Pt. 3: Banking sector restructuring: 5. Estonia: the financial system in retrospect and prospect / Helo Meigas -- 6. Financial sector restructuring: the Croatian experience / Marko Skreb and Velimir Sonje -- 7. Financial sector restructuring in Bulgaria 1997-2001 / Petar Jotev -- 8. Financial markets in Hungary: achievements and prospective challenges / István Szalkai -- 9. Restructuring the Russian banking system / Marina Chekurova -- 10. Evolution of the banking sector in Central Asia / Tun U̇yanik and Carlo Segni -- Pt.4: Capital markets: ready to take off or stalled in flight?: 11. Stock markets in transition economies / Stijn Claessens, Simeon Djankov, and Daniela Klingebiel -- 12. Emerging stock markets in Central Europe: where do we stand? / Wieslaw Rozlucki -- 13. Emerging capital markets: a Slovenian perspective / Drasko Veselinovic -- 14. Czech capital markets: illusions and disillusions / Vladimír Rudlovcák -- 15. Capital market development in the Russian Federation / Dmitri Vasiliev -- Pt. 5: Lessons learned and future challenges: 16. Banking transition: a comparative analysis / Stephen Fries and Anita Taci -- 17. Financial deepening and the role of financial crises / Stephen Peachey and Alan R. Roe -- 18. Aspects of banking supervision / Christian Durand and Wim Fonteyne -- 19. Finance in the New Millenium / Stijn Claessens, Tom Glaessner, and Daniela Klingebiel -- Pt. 6: The roles of the World Bank and the International Monetary Fund: 20. The evolving role of the World Bank in ECA financial sectors / Paul Siegelbaum and Alexander Fleming -- 21. Financial policy in transition economies: an IMF perspective / Stefan Ingves -- Index.

The financial sectors of the post-communist economies of Europe and Central Asia are perhaps where the most intractable problems existed and where the most difficult reforms were forced to begin. This report examines the factors that influenced, and will influence, the adaptation of ECA ' s financial systems, starting from an examination of how the global financial system--especially the Western European component--has evolved, and how these developments have both influenced and challenged different types of transition economies. The report also provides an opportunity to take stock of progress in the financial systems of ECA countries over the past 10 years and to identify the main challenges confronting financial policymakers during this period.