Process and effects of financial liberalization in transition countries: A selective literature survey

• Published in: Panoeconomicus Vol. 56; no. 4; pp. 453 - 473
• Main Authors: Berthomieu, Claude, Ri, Anastasia
• Format: Journal Article
• Language: English
• Published: Economists' Association of Vojvodina 2009
• Subjects: financial systems; growth; small and medium enterprises; transition economies
• ISSN: 1452-595X; 2217-2386
• DOI: 10.2298/PAN0904453B

This paper aims at reviewing selected literature on (1) structural financial changes observed in a large sample of transition economies in the Central and/or Oriental Europe during the last two decades, (2) efficiency of this financial liberalization in relative terms (in macroeconomic sense), and (3) impact of liberalization on financial problems of small and medium-size enterprises, a specific 'puzzle' concerning this very important economic sector as for its role in the employment and growth of these economies.
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