Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/242173 
Year of Publication: 
2020
Citation: 
[Journal:] DANUBE: Law, Economics and Social Issues Review [ISSN:] 1804-8285 [Volume:] 11 [Issue:] 4 [Publisher:] De Gruyter [Place:] Warsaw [Year:] 2020 [Pages:] 283-299
Publisher: 
De Gruyter, Warsaw
Abstract: 
The article analyses the structural changes of the financial intermediary system of Eastern-Central European (ECE) countries, that joined the EU in 2004, namely the Czech Republic, Hungary, Poland, Slovakia and Slovenia (ECE5) in the light of global and European trends from 2004 to 2016. Its two main focuses are the characteristics of the structural shifts and interconnectedness between banks and financial markets, on the one hand, and the size and specificities of shadow banking systems, on the other. Despite the limited catching up of the region the ECE5 countries has a much less deep and more bank-based financial system than their European counterparts without the emergence of significant market-based banking and shadow banking. However, while in the developed countries the most important shadow banking institutions are the non-money market mutual funds, in ECE5 countries other non-bank financial institutions are those that potentially exposed to shadow banking risk.
Subjects: 
Shadow Banking
Eastern-Central Europe
Market-Based Financial System
Bank-Based Financial System
Financial Structures
Non-bank Financial Intermediation
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article

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