Legal and Institutional Reform in the European Transitional Economies

Author(s):  
Stilpon Nestor
2008 ◽  
Vol 58 (4) ◽  
pp. 403-426
Author(s):  
Z. Kudrna

This paper reviews the progress of banking reforms in China. Since 2002, the reform strategy has relied on publicly-financed bailouts, implementation of international best practices in bank governance and regulation, and listing of major banks in Hong Kong. The three largest banks have been stabilised, but we find little reason to expect this to be sustainable. Prudential indicators are comparable to international averages, but this is an outcome of bailouts and ongoing credit boom. Reforms of bank governance and regulatory frameworks that would alter banker’s incentives are implemented in a selective manner; principles that concentrate key powers in the centre are implemented vigorously, whereas those that require independent boards and regulators are ignored. Selectiveness of institutional reform means that the largest banks remain under state control and can be used as means of development policy for the better or the worse.


2004 ◽  
Vol 54 (3) ◽  
pp. 387-397
Author(s):  
Mihály Laki ◽  
Beáta Huszka

R. J. McIntyre and B. Dallago (eds): Small and Medium Enterprises in Transitional Economies. Palgrave Macmillan in association with the United Nations University / World Institute for Development Economics Research, 2003, 259 pp. (Reviewed by Mihály Laki); S. S. Bhalla: Imagine There's No Country. Poverty, Inequality, and Growth in the Era of Globalisation. Washington, D.C.: Institute for International Economics, 2002, 248 pp. (Reviewed by Beáta Huszka)


10.1596/26037 ◽  
2003 ◽  
Author(s):  
Harry Broadman ◽  
Jim Anderson ◽  
Stijn Claessens ◽  
Randi Ryterman ◽  
Stefka Slavova ◽  
...  

1996 ◽  
Vol 35 (4I) ◽  
pp. 399-417 ◽  
Author(s):  
John W. Mellor

The right to the flow of income from water is vigorously pursued, protected, and fought over in any arid part of the world. Pakistan is of course no exception. Reform of irrigation institutions necessarily changes the rights to water, whether it be those of farmers, government, or government functionaries. Those perceived rights may be explicit and broadly accepted, or simply takings that are not even considered legitimate. Nevertheless they will be fought over. Pakistan has a long history of proposals for irrigation reform, little or none being implemented, except as isolated pilot projects. Thus, to propose major changes in irrigation institutions must be clearly shown to have major benefits to justify the hard battles that must be fought and the goodwill of those who might win those battles for reform. Proponents of irrigation institution reform have always argued the necessity of the reforms and the large gains to be achieved. Perhaps, however, those arguments have not been convincing. This paper will briefly outline the failed attempts at irrigation reform to provide an element of reality to the discussion. It will then proceed to make the case of the urgency of reform in a somewhat different manner to the past. Finally, current major reform proposals will be presented. This paper approaches justification of irrigation reform by focusing on the agricultural growth rate. It does so because that is the critical variable influencing poverty rates and is a significant determinant of over-all economic growth rates. The paper decomposes growth rates and suggests a residual effect of deterioration of the irrigation system that is large and calls for policy and institutional reform. The data are notional, suggesting the usefulness of the approach and paves the way for more detailed empirical analysis and enquiry for the future.


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