Bonin, John; Hasan, Iftekhar; Wachtel, Paul - 2008
Modern banking institutions were virtually non-existent in the planned economies of central Europe and the former … Soviet Union. In the early transition period, banking sectors began to develop during several years of macroeconomic decline … addition, rapid progress in bank privatization and consolidation took place in the late 1990s and early 2000s, usually with the …