2002 Fiscal Year Final Research Report Summary

An Empirical Research on the Reform of Money Markets in Central Europe,

Research Project

Project/Area Number	13630049
Research Category	Grant-in-Aid for Scientific Research (C)
Allocation Type	Single-year Grants
Section	一般
Research Field	経済政策(含経済事情)
Research Institution	Shiga University
Principal Investigator	FUKUDA Toshihiro FUKUDA,Toshihiro, 経済学部, 教授 (20079015)
Project Period (FY)	2001 – 2002
Keywords	system transition in Central Europe / reform of the money market / reform of the banking system / prudence policy / converging movement to the standards of the EU
Research Abstract	The object of this research is to investigate empirically the institutional reform of money markets in Poland, the Czech Republic and Hungary. In order to attain this object, I adopted the approach of comparative economic systems and, using a lot of statistical and financial data, attempted to investigate the real conditions of the institutionalization of Western-type money markets, especially of the modern banking system, in these countries. Important results obtained from this research may be summarized as follows: (1) on going institutionalization of the modern money markets in Poland, the Czech Republic and Hungary is converging to the financial standards of the EU; (2) these three countries made good progress in restructuring its b system among the post-socialist countries; (3) the second stage of banking restructuring since the mid-1990s is characterized above all else by the increased participation of foreign banks in privatization and the consolidation of these countries' banking system.