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Capital and Credit-based Development: Lessons from the Experience of Industrial Countries for Transition Economies in Central East Europe

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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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Authors
  1. Stephan Herten
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  2. Jens Hölscher
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  3. Matthias Moersch
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Editor information

Editors and Affiliations

  1. St Edmund’s College, Cambridge, UK

    Stephen F. Frowen (Fellow Commoner, Honorary Professor) & Francis P. McHugh (Emeritus Fellow) (Fellow Commoner, Honorary Professor) &  (Emeritus Fellow)

  2. Institute for German Studies, The University of Birmingham, UK

    Stephen F. Frowen (Fellow Commoner, Honorary Professor) (Fellow Commoner, Honorary Professor)

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© 2001 Palgrave Macmillan, a division of Macmillan Publishers Limited

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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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