By introducing a new measure of the banking systems' size, the paper challenges the existing consensus on severe underdevelopment of the CEE banking sectors. We argue that the existing studies on the size of CEE banking systems exaggerate the real degree of underdevelopment because common...

This paper reviews the main features of the banking and financial sector in ten new EU members, and then examines the relationship between financial development and economic growth in these countries by estimating a dynamic panel model over the period 1994-2007. The evidence suggests that the...

Machine generated contents note: Foreword IntroductionGrowth and Structural Features of Transition: Theoretical Framework and General OverviewGovernance, Institutions and Growth: Empirical Lessons from the Post-Communist TransitionHuman capital and social capital as interacting factors of...