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The Politics of Institutional Learning and Creation: Bank Crises and Supervision in East Central Europe. CES Central & Eastern Europe Working Paper No. 64, 2005

MecDermott, Gerald A. (2005) The Politics of Institutional Learning and Creation: Bank Crises and Supervision in East Central Europe. CES Central & Eastern Europe Working Paper No. 64, 2005. [Working Paper]

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    Abstract

    This article examines the political conditions shaping the creation of new institutional capabilities. It analyzes bank sector reforms in the 1990s in three leading postcommunist democracies–Hungary, Poland, and the Czech Republic. It shows how different political approaches to economic transformation can facilitate or hinder the ability of relevant public and private actors to experiment and learn their new roles. With its emphasis on insulating power and rapidly implementing self-enforcing economic incentives, the “depoliticization” approach creates few changes in bank behavior and, indeed, impedes investment in new capabilities at the bank and supervisory levels. The “deliberative restructuring” approach fostered innovative, cost-effective monitoring structures for recapitalization, a strong supervisory system, and a stable, expanding bank sector.

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    Item Type: Working Paper
    Uncontrolled Keywords: Institutional change; transition economies; bank crises; bank supervisors; learning.
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > Single Market > capital, goods, services, workers
    Countries > Czech Republic
    Countries > Poland
    Countries > Hungary
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Harvard University, Center for European Studies > Program on Central & Eastern Europe Working Papers Series
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 20 Aug 2009
    Page Range: p. 40
    Last Modified: 15 Feb 2011 18:00
    URI: http://aei.pitt.edu/id/eprint/9270

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