Propriété et crédit en Europe post-socialiste

Les expériences hongroise et tchèque (1989-1998)

Bibliographic Data

ID11979475
AuthorsEric Magnin (0000-0002-8866-9010, corresponding author)
Year1999
Volume30
Issue2
Pages259-281
Publication date1999-01-01
Open AccessNo
TypeARTICLE
VenueRevue d’études comparatives Est-Ouest (JOURNAL)
Journal identifiersISSN: 0338-0599 • E-ISSN: 2259-6100
PublisherPERSEE Program (PUBLISHER)
DOI10.3406/receo.1999.2982
OpenAlexW2052784764
LanguageFR
Citations received2

The Hungarian and Czech privatization programs launched in the early 1990s involved banks, firms and the state as owners. This share-holding structure apparently did not lead to an efficient allocation of credit; nor did it provide lasting support for investment in the post-Communist institutional context. Given the increase in non- performing loans, these two countries have reacted alike. Hungary financially restructured banks and firms in 1993-1994, and thus opened the way to their privatization in 1995-1997. In 1997, the Czech Republic started reforming its financial institutions and privatizing major banks. In both cases, these measures have modified the structure of capital and share-holding by "sorting out" the property relations between banks, state and industries and by making banks adopt a more prudent loan management practice. However, these two experiences seem to suggest that ownership is not the only determinant of an efficient allocation of credit

Business · Capital (architecture · Context (archaeology · Corporate governance · Czech · Economics · Financial system · Investment (military · Loan · Market economy · Political science · Share capital · State (computer science · Banking stability, regulation, efficiency · European Socioeconomic and Political Studies · Post-Communist Economic and Political Transition · Finance

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