ince the beginning of 1997, a currency and/or banking crisis broke out in several transition countries (Bulgaria, Romania, the Czech Republic, Russia, Ukraine). In 1995, Hungary avoided a financial crisis by adjusting properly her macroeconomic policies. Financial markets in transition countries...

The volume includes theoretical articles on banks' liability restrictions, on the possible causes of the banking crisis and economic-policy recommendations on banking regulation by Hans-Werner Sinn in the past three decades.