By Paul Hare (auth.), Ingrid Matthäus-Maier, Dr. J.D. von Pischke (eds.)
A distinct foreign team of significant bankers, advertisement bankers, marketers, educational advisors, policymakers, and representatives of improvement finance organisations and donor enterprises, introduced jointly by means of KfW, examines during this booklet the way forward for monetary area improvement in Southeast Europe. They discover how one can develop the banking quarter in Southeast Europe, additional advertise SMEs, and enhance entry to monetary companies within the sector. specialists and decision-makers check the possibilities and demanding situations provided through the european accession technique and Basel II, and supply candid perception into the increasing position of the non-public region in constructing the monetary panorama. The views awarded during this ebook will advised dialogue and highbrow alternate that would function a brand new start line for extra winning cooperative initiatives.
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Additional resources for EU Accession — Financial Sector Opportunities and Challenges for Southeast Europe
That reality will likely remain for some time. Experience from the CEB countries strongly suggests that government securities will remain the main traded assets, provided governments manage their finances very prudently. There will be a few corporate bonds, but initially not much else. Consequently, even where stock markets exist, they cannot possibly assume much importance unless some form of regional confederation or association of markets can be established. For political reasons as well as for a variety of local, technical reasons, such an association does not appear very probable, though early discussions have started as noted above.
Some, such as Kosovo, apply a uniform tariff to all imports; other set numerous rates, often running into the thousands. Hence the presence in this column of countries setting only three or four rates is very encouraging; simple tariff structures are easier to administer and are less vulnerable to corruption than more complex structures. To explain the numbers, consider Albania: the tariff bands of 2, 10 and 15% mean that some goods pay an import duty of 2% of the declared border value of the import, some pay a 10% duty, others 15%.
It limits competition in the domestic market, discouraging the entry of new firms that might be able to perform better. It also discourages intra-regional trade. Micro-level Institutional Reforms The main problem is nearly always effective implementation of reforms, since many of the SEE countries have much of the right legislation in place. Some countries have chosen very complex regulatory models, and then prove unable to carry it through. The basic approach may be better, but it can still fail as a result of sectoral or regional political pressures for special treatment.
EU Accession — Financial Sector Opportunities and Challenges for Southeast Europe by Paul Hare (auth.), Ingrid Matthäus-Maier, Dr. J.D. von Pischke (eds.)