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Banking Sector Liberalization and Reform in the Post-Communist Region after 1989: Assessing the Impact of Domestic Politics, International Conditionality, and Economic Development. IHS Political Science Series Paper No. 116, June 2008

Spendzharova, Aneta B. (2008) Banking Sector Liberalization and Reform in the Post-Communist Region after 1989: Assessing the Impact of Domestic Politics, International Conditionality, and Economic Development. IHS Political Science Series Paper No. 116, June 2008. [Working Paper]

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    Abstract

    This paper connects the literature on market liberalization in advanced industrialized countries and that on economic reform in transitional countries. It tests three important theoretical frameworks in the analysis of policy change—domestic politics, international pressures, and economic development—using time-series cross-section analysis of 25 post-communist states. The findings reveal a complex causal pattern where factors from all three theoretical frameworks are substantively important. On the domestic level, curbing corruption is strongly related to more banking sector liberalization. The higher the presence of foreign banks in the country, the more banking sector liberalization. On the international level, exposure to stricter IMF conditionality has a positive effect on the extent of banking sector liberalization. The analysis also confirms the salience of structural factors: Measures of economic development such as GDP per capita and stock market capitalization are important predictors of the extent of banking sector liberalization.

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    Item Type: Working Paper
    Uncontrolled Keywords: Banking sector reform; transition; institutional change; domestic politics; international conditionality; economic development.
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > Single Market > capital, goods, services, workers
    EU policies and themes > Policies & related activities > economic and financial affairs > economic policy
    EU policies and themes > External relations > EU-Central and Eastern Europe
    Other international institutions > IMF
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Institute for Advanced Studies (Vienna), Department of Political Science > IHS Political Science Series
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 12 Sep 2008
    Page Range: p. 44
    Last Modified: 15 Feb 2011 17:57
    URI: http://aei.pitt.edu/id/eprint/8903

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