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Author Spendzharova, Aneta B
Title Regulating banks in Central and Eastern Europe [electronic resource] : through crisis and boom / Aneta Spendzharova
Imprint Basingstoke : Palgrave Macmillan : [distributor] Not Avail, 2014
book jacket
Edition 1st ed
Descript 176 p. : 5 figures, 15
02 58.00 GBP 00 S 48.33 20.0 58.00 9.67 GB xxk Palgrave Macmillan onix-pt
20140821 IP 20140814 GB xxk Palgrave Macmillan UK-WkNB
Series European administrative governance
Note Electronic book text
Epublication based on: 9781137282743
1. Introduction 2. The Quest for Financial Stability: Determinants of Regulatory Approach in Banking Supervision 3. Economic Reform Path and Bank Privatization 4. Institutional Design of Banking Supervision in Central and Eastern Europe and Party Politics 5. Banking Supervision Approaches during Credit Booms 6. At the EU Negotiating Table: What Role for National Bank Supervisors after EU Accession? 7. Conclusion
How do bank supervisors strike a balance between market self-regulation and pro-active regulatory intervention? This book investigates the choice of banking supervision approach in four European Union member states from Central and Eastern Europe - Bulgaria, Estonia, Hungary, and Slovenia - after their transition to democracy and market economy. How do bank supervisors strike a balance between market self-regulation and pro-active regulatory intervention? This book investigates the choice of banking supervision approach in four European Union member states from Central and Eastern Europe - Bulgaria, Estonia, Hungary, and Slovenia - after their transition to democracy and market economy. Drawing on interviews with bank supervisors and decision-makers, the study examines why the four states show different calibrations of the balance between market-based regulation and risk-averse counter-cyclical regulation across countries and over time. The book sheds lights on a core tension in the European Banking Union: should rules be homogenous across jurisdiction to ensure a level playing field, or should national regulators have room to impose stricter or more lax regulations?
As the world still struggles with the legacy of Lehman Brother's collapse, this timely book leads us into the dilemmas of banking regulation and supervision. Why some national regulators choose a hands-off approach that attract foreign investors but risks fueling credit bubbles? And why do others opt for a more interventionist supervision that can nonetheless discourage foreign investors and stifle lending? Spendzharova brilliantly answers these questions using a wealth of first-hand data on banking governance in Bulgaria, Estonia, Hungary, and Slovenia. Her analysis is a required reading not only for those interested in the economic challenges that Central and Eastern Europe faced with the transition to a market economy but also to all scholars working in the politics of banking regulation. - Manuela Moschella, Assistant Professor in Political Science, University of Turin, Italy and Senior Fellow at the Center for International Governance Innovation (CIGI), Waterloo, Canada Aneta Spendzharova's study is a sophisticated treatment of how countries in East Central Europe use their regulatory authority to cope with very high levels of foreign bank ownership. Since current trends for countries everywhere suggest more foreign bank ownership, not less, the findings here are valuable for anyone interested in the governance of finance. - Rachel Epstein, Josef Korbel School, University of Denver, USA This book offers an innovatively theorised and meticulously researched account of the main determinants of the institutional arrangements for banking supervision in a variety of Central and Eastern European countries. The research also sheds novel light onto the very topical issue of the preferences of these countries in the redesign of the banking regulatory regime in the European Union. It will be of great interest to scholars in comparative political economy, regulation and EU studies. - Lucia Quaglia, Department of Politics, University of York, UK Spendzharova's impressive study on banking regulation and supervision in Central and Eastern Europe is a lesson in effective comparative political economy analysis that should be read by all political scientists. This work is a major contribution not just to the literature on banking sector governance but also, more broadly, to the literature on the regulatory state. - David Howarth, Professor in Political Economy, University of Luxembourg This timely book on bank regulation and the choice of the supervisory model is important in several aspects - it is interesting from a theoretical point of view in terms of what variables exert influence on the regulatory structures in European countries and as a case of transition reforms in Central and Eastern European countries, it is also valuable as a contribution to the study of Europeanization, the effects of EU membership and external factors in general on national choices of economic policy and mediation of domestic factors. Finally, it is relevant from a practical point of view as in the context of the Great Recession; the role of banks in the economy, the different practices of regulations and the sources of incentives for risk taking have attracted a lot of attention from policy makers, media and the general populace. Though one could still argue with the author from a normative point of view which particular regulatory model should be preferred, the study brings together both normative and positive political economy approaches and applies them to explain the regulatory choices of four Central and Eastern European countries, making it an interesting comparative analysis of relatively understudied EU member states. - Ramunas Vilpisauskas, Director of the Institute of International Relations and Political Science, Vilnius University, Lithuania Aneta Spendzharova has written a groundbreaking book showing the causes and consequences of different approaches to regulating the banking sector. Over time, states with more proactive and coherent regulation fair better, especially in recovering from the financial crisis. The book is exceptionally well researched and well argued, illuminating for students of political economy and comparative politics how political trajectories determine important regulatory choices. Milada Anna Vachudova, Associate Professor, Department of Political Science, UNC Chapel Hill, USA
Aneta Spendzharova is Assistant Professor in Political Science at Maastricht University, the Netherlands. Her research interests are in the areas of comparative political economy, banking supervision, and European Union politics. Her research has appeared in journals such as Journal of International Political Economy and Journal of Common Market Studies
Subject Bank management -- European Union countries
Banking law -- European Union countries
Banks and banking -- European Union countries
Banking -- Bulgaria -- Estonia -- Hungary -- Slovenia. bicssc
Central government policies -- Bulgaria -- Estonia -- Hungary -- Slovenia. bicssc
EU & European institutions -- Bulgaria -- Estonia -- Hungary -- Slovenia. bicssc
Finance and Accounting. ukslc
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