The Role of Central Banks in Financial Sector Reform

  • Age F. P. Bakker
Conference paper


The vital importance of financial sector soundness for macroeconomic stability and economic development has become a generally accepted paradigm in contemporary mainstream economic thinking. Financial sector issues are particularly relevant for Central and East European countries, where until recently dominant former state banks, high proportions of nonperforming loans, and a low level of financial intermediation have hindered economic growth. Regulatory skills as well as prudential policies have been lagging.


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Copyright information

© Springer-Verlag Berlin Heidelberg 2002

Authors and Affiliations

  • Age F. P. Bakker

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