Central and East European Bank Responses to the Financial ‘Crisis’: Do Domestic Banks Perform Better in a Crisis than their Foreign-Owned Counterparts?

References

• Åslund , A. and Dombrovskis , V. 2011 . How Latvia Came through the Financial Crisis , Washington, DC : Peterson Institute for International Economics .
   Google Scholar
• Bakker , B. B. and Gulde , A. 2010 . The Credit Boom in the EU New Member States: Bad Luck or Bad Policies? , IMF Working Paper 130 Washington, DC : International Monetary Fund .
   Google Scholar
• Baltic News Service (2009) ‘Godmanis: pirms “Parex bankas” pārnemšanas lielākie akcionāri no bankas nēmuši laukā naudu’, 23 July, available at: http://www.diena.lv/sabiedriba/politika/godmanis-pirms-parex-bankas-parnemsanas-lielakie-akcionari-no-bankas-nemusi-lauka-naudu-679528, accessed 20 February 2013.
   Google Scholar
• Barboza, D. (2011) ‘As its Economy Sprints Ahead, China's People are Left Behind’, New York Times, 10 October.
   Google Scholar
• Barth , J. R. , Caprio , G. Jr and Levine , R. 2006 . Rethinking Bank Regulation: Till Angels Govern , New York : Cambridge University Press .
   Google Scholar
• Bonin , J. P. , Mizsei , K. , Székely , I. and Wachtel , P. 1998 . Banking in Transition Economies: Developing Market Oriented Banking Sectors in Eastern Europe , Cheltenham : Edward Elgar Publishing Limited .
   Google Scholar
• Bonin , J. P. and Schnabel , I. 2011 . The Great Transformation: From Government-owned to Foreign-controlled Banking Sectors . Economics of Transition , 19 ( 3 ) : 397 – 405 .
   Web of Science ®Google Scholar
• Bradsher, K. (2010) ‘On Clean Energy, China Skirts Rules’, New York Times, 9 September, p. A1.
   Google Scholar
• Buckley, N. (2011) ‘Economy: New Hope’, Financial Times, 13 December.
   Google Scholar
• Cerni, B. (2012) ‘Slovenian Banks Unwilling to Lend Despite ECB Financing’, Bloomberg, 3 February.
   Google Scholar
• Champion, M., Slater, J. & Mollenkamp, C. (2009) ‘Banks Reel on Eastern Europe's Bad News’, Wall Street Journal, 18 February.
   Google Scholar
• Cox, A. & Garnham, P. (2009) ‘Moody's Warns of Eastern Europe Risk’, Financial Times, 17 February.
   Google Scholar
• Culpepper , P. D. 2011 . Quiet Politics and Business Power: Corporate Control in Europe and Japan , New York : Cambridge University Press .
   Google Scholar
• De Haas , R. , Korniyenko , Y. , Loukoianova , E. and Pivovarsky , A. 2012 . Foreign Banks and the Vienna Initiative: Turning Sinners into Saints , EBRD Working Paper 143 London : European Bank for Reconstruction and Development .
   Google Scholar
• Deeg , R. 1999 . Finance Capitalism Unveiled: Banks and the German Political Economy , Ann Arbor, MI : University of Michigan Press .
   Google Scholar
• Donnelly , S. 2011 . The Public Interest and the Economy in Europe in the Wake of the Financial Crisis . European Political Science , 10 ( 3 ) : 384 – 92 .
   Web of Science ®Google Scholar
• Duenwald , C. , Gueorguiev , N. and Schaechter , A. 2005 . Too Much of a Good Thing? Credit Booms in Transition Economies: The Cases of Bulgaria, Romania and Ukraine , IMF Working Paper 128 Washington, DC : International Monetary Fund .
   Google Scholar
• EBRD . 2008 . Transition Report 2008: Growth in Transition , London : European Bank for Reconstruction and Development .
   Google Scholar
• EBRD . 2009 . Transition Report 2009: Transition in Crisis? , London : European Bank for Reconstruction and Development .
   Google Scholar
• EBRD . 2010 . Transition Report 2010: Recovery and Reform , London : European Bank for Reconstruction and Development .
   Google Scholar
• EBRD . 2011 . Transition Report 2011: Crisis and Transition: The People's Perspective , London : European Bank for Reconstruction and Development .
   Google Scholar
• Engdahl, W. F. (2009) ‘Next Wave of Banking Crisis to come from Eastern Europe’, Global Research Online, 18 February.
   Google Scholar
• Epstein , R. A. 2008a . In Pursuit of Liberalism: International Institutions in Post-communist Europe , Baltimore, MD : Johns Hopkins University Press .
   Google Scholar
• Epstein , R. A. 2008b . The Social Context in Conditionality: Internationalizing Finance in Post-communist Europe . Journal of European Public Policy , 15 ( 6 ) : 880 – 98 .
   Web of Science ®Google Scholar
• Epstein, R. A. (2012) ‘A European Banking Union Could Save the Euro’, US News and World Report, available at: http://www.usnews.com/opinion/articles/2012/06/29/a-european-banking-union-could-save-the-euro, accessed 23 January 2013.
   Google Scholar
• Ferenc, M. L. (2011) ‘Az OTP elleni bankháború vezetett a devizahitel-robbanáshoz’, HVG Online, 9 November, available at: http://hvg.hu.gazdasag/20111105_OTP_bankok_devizahitelezes_okai, accessed 30 August 2012.
   Google Scholar
• Guardiancich , I. 2012 . The Uncertain Future of Slovenian Exceptionalism . East European Politics and Societies , 26 ( 2 ) : 380 – 99 .
   Web of Science ®Google Scholar
• Guillén , M. F. and Tschoegl , A. 2008 . Building a Global Bank: The Transformation of Banco Santander , Princeton, NJ : Princeton University Press .
   Google Scholar
• Hall , P. A. and Soskice , D. , eds. 2001 . Varieties of Capitalism: The Institutional Foundations of Comparative Advantage , New York : Oxford University Press .
   Google Scholar
• Hancké , B. , Rhodes , M. and Thatcher , M. , eds. 2007 . Beyond Varieties of Capitalism: Conflict, Contradictions, and Complementarities in the European Economy , New York : Oxford University Press .
   Google Scholar
• IIF . 2009 . Fragmentation of the International Financial System: Analysis and Recommendations , IIF Staff Paper Washington, DC : Institute of International Finance .
   Google Scholar
• IMF . 2010 . Regional Economic Outlook: Europe: Building Confidence , Washington, DC : International Monetary Fund .
   Google Scholar
• Jenkins, P. & Sovago, M. (2011) ‘Foreign Currency Mortgages Now Threaten Hungary’, Financial Times, 13 December.
   Google Scholar
• Katzenstein , P. , ed. 1978 . Between Power and Plenty: Foreign Economic Politics of Advanced Industrialized States , Madison, WI : University of Wisconsin Press .
   Google Scholar
• King, I. (2009) ‘Eastern European Crisis May Put Us All in the Goulash’, The Times, 19 February.
   Google Scholar
• Kirshner , J. 2006 . “ Globalization and National Security ” . In (2006) Globalization and National Security , Edited by: Kirshner , J. 1 – 33 . New York : Routledge .
   Google Scholar
• Kostrzewa, L. & Mięczński, P. (2009) ‘Emerytury na kredyt. ZUS nie ma, więc pożycza w bankach’, Gazeta Wyborcza, 10 June.
   Google Scholar
• Kruk, M. (2011) ‘Poland Scraps PKO Bank Polski Share Offer for Now’, Dow Jones News, 16 December.
   Google Scholar
• Lindstrom , N. and Piroska , D. 2007 . The Politics of Privatization and Europeanization in Europe's Periphery: Slovenian Banks and Breweries for Sale? . Competition and Change , 11 ( 2 ) : 115 – 33 .
   Google Scholar
• Macartney, H. (2012) From Merlin to Oz: Limited Lending to the UK's Small- and Medium-Sized Enterprises, unpublished manuscript.
   Google Scholar
• Martinez-Diaz , L. 2009 . Globalizing in Hard Times: The Politics of Banking-Sector Opening in the Emerging World , Ithaca, NY : Cornell University Press .
   Google Scholar
• Molnár, M. (2010) Enhancing Financial Stability Through Better Regulation in Hungary, OECD Economics Department Working Papers 786, 17 June, available at: http://dx.doi.org/10.1787/5kmd41chjg34-en, accessed 4 April 2012.
   Google Scholar
• Nölke , A. and Vliegenthart , A. 2009 . Enlarging the Varieties of Capitalism: The Emergence of Dependent Market Economies in East Central Europe . World Politics , 61 ( 4 ) : 670 – 702 .
   Web of Science ®Google Scholar
• Ortiz, G. (2012) ‘It is Time for Emerging Markets to Lead Reform of Banking’, Financial Times, 5 March.
   Google Scholar
• OTP . 2009 . OTP Bank Annual Report , Budapest : OTP Bank .
   Google Scholar
• Pistor , K. 2011 . Governing Interdependent Financial Systems: Lessons from the Vienna Initiative . Journal of Globalization and Development , 2 ( 2 )
   Google Scholar
• PKO Bank Polski . 2010a . Directors' Report for the Year 2009 , Warsaw : PKO BP .
   Google Scholar
• PKO Bank Polski . 2010b . 2010 Annual Report , Warsaw : PKO BP .
   Google Scholar
• Raiffeisen Research . 2009 . CEE Banking Sector Report: Rough Playing Field … Committed Players , Vienna : Raiffeisen Research .
   Google Scholar
• Raiffeisen Research . 2011 . CEE Banking Sector Report: Banking Sector Convergence 2.0 , Vienna : Raiffeisen Research .
   Google Scholar
• Roubini , N. and Setser , B. 2004 . Bailouts or Bail-Ins? Responding to Financial Crises in Emerging Economies , Washington, DC : Institute for International Economics .
   Google Scholar
• Rózsavölgyi , R. and Kovács , V. 2005 . Housing Subsidies in Hungary: Curse or Blessing? . ECFIN Country Focus , 2 ( 18 ) : 1 – 6 .
   Google Scholar
• Sloga, G. (2009a) ‘Zatlers: jānodrošina maksimāla atklātība par Parex pārnemšanu’, Diena, 28 September.
   Google Scholar
• Sloga, G. (2009b) ‘Vairās uznemties atbildību’, Diena, 29 September.
   Google Scholar
• Várhegyi , É. 2010 . A válság hatása a magyarországi bankversenyre . Közgazdasági Szemle , : 825 – 46 . 8, October,
   Google Scholar
• Véron , N. 2011 . Testimony on the European Debt and Financial Crisis . Breugel Policy Contribution , 2011, 11
   Google Scholar
• Wade , R. 2004 . Governing the Market: Economic Theory and the Role of Government in East Asian Industrialization , Princeton, NJ : Princeton University Press .
   Google Scholar
• Wade , R. 2007 . “ The Aftermath of the Asian Financial Crisis: From “Liberalize the Market” to “Standardize the Market” and Create a “Level Playing Field ” . In (2007) Ten Years After: Revisiting the Asian Financial Crisis , Edited by: Muchhala , B . 73 – 94 . Washington, DC : Woodrow Wilson International Center for Scholars .
   Google Scholar
• World Bank . 1993 . The East Asian Miracle: Economic Growth and Public Policy , New York : Oxford University Press .
   Google Scholar
• Zysman , J. 1983 . Governments, Markets, and Growth: Financial Systems and the Politics of Industrial Change , Ithaca, NY : Cornell University Press .
   Google Scholar