Abstract
The hypothesis of this chapter is that a strategy in favour of financial liberalisation in the emerging market economies of Central East Europe will lead to Anglo-Saxon types of financial sectors, including the implantation of chronic short termism and vulnerability to speculative attacks. For economic policy we argue therefore in favour of a careful rehabilitation approach following the postwar West German example (see Grünbacher and Hölscher 1997).
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Herten, S., Hölscher, J., Moersch, M. (2001). Capital and Credit-based Development: Lessons from the Experience of Industrial Countries for Transition Economies in Central East Europe. In: Frowen, S.F., McHugh, F.P. (eds) Financial Competition, Risk and Accountability. Anglo-German Foundation for the Study of Industrial Society. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-65236-5_14
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DOI: https://doi.org/10.1007/978-1-349-65236-5_14
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