The Development of a Financial Sector in Hungary

Part of the Studies in Economic Transition book series (SET)


In all PSEs facing the tasks of profound economic restructuring and catch-up development, the establishment of a functioning financial sector is of central importance for the emergence of a stable monetary constitution: unless the financial sector is able to offer credibility despite its inherent instabilities, and unless the institutions this sector is comprised of can fulfil their functions in the new system of economic control and governance, the most immediate obstacles to economic development cannot be removed.


Monetary Policy Central Bank Banking System Commercial Bank Large Bank 
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© Johannes Stephan 1999

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