THE CHANGE FROM A COMMAND-TO A MARKET BANKING SYSTEM IN THE CASES OF SELECT GROUPS OF EUROPEAN COUNTRIES
In this article, the general stages of the banking sector’s transition to a free market are examined in the countries of Central and Eastern Europe and the effects of the last crisis on the financial and economic system of these countries. The process of this change is different and is important for their integration into the common European banking market, as well as their influence on the development of the economies of these countries as a whole. Therefore, the objectives of this study are to compare the processes of change in organizational structure and the difficulty of integrating these banking sectors with the banking sectors of Western European countries. The focus is also on assessing the impact of the global financial and economic crisis on their sustainable development. The databases of the World Bank and the International Monetary Fund have been used to establish a common pattern in some sectors - the growth of non-performing loans during the crisis, it also implies a concerted effort to overcome this important indicator of their sustainability and behavior.
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License (Creative Commons Attribution License 3.0 - CC BY 3.0) that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
firstname.lastname@example.org, www.iseic.cz, ojs.journals.cz