Reforming the Financial Sector in Central European Countries | S. Poloucek | Palgrave Macmillan
As the crisis unfolded, policy authorities stepped in to support troubled financial institutions with large bailouts. Repair of financial regulation and supervision was necessary to reduce systemic risk and to achieve financial stability. They share a common approach, based on a new regulatory agenda, stronger coordinated supervision — macro and micro prudential — and crisis management procedures.
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- Reforming the Financial Sector in Central European Countries | S. Poloucek | Palgrave Macmillan.
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This paper offers a critical analysis of the two models of financial reform being enacted and points to weaknesses, notably in respect of effective, coordinated crisis management procedures. Securities and Exchange Commission, Berkeley, October 15th. BAIR S.
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CONT R. Learning the lessons from the market crisis, Tel Aviv, June 10th. GRAY D.
The finance minister points to the number of tax reforms made on her watch as perhaps her most important legacy. One is to decrease inequality — that is why we introduced progressive personal income tax and non-taxable minimum rates. The other is to increase the tax collection rate, because until now we have had one of the lowest rates in the EU.
In the short term it will stay low, but over time, because of the tax reform, we expect it to grow and come close to a third of GDP.
We increased the tax rate from 15 to 20 per cent but companies do not have to pay tax as long as they reinvest profits and do not pay dividends. That will improve the productivity of SMEs and improve their own capital structure and make them more attractive to investors. Another positive side effect that we expect to see is SMEs becoming more bankable.
Until now, the financial sector — banks in particular — have argued that few SMEs were bankable enough. You must be logged in to post a comment. Andrew Wrobel. You may also like. Analysis Investing in the Macedonian economy September 17, Click here to post a comment.
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Reforming the Financial Sector in Central European Countries
Buy Softcover. FAQ Policy. About this book The analysis in this book reflects various aspects of financial sector transformation in selected Central European countries that are expected to join the EU in Show all. Show next xx. Services for this book Download High-Resolution Cover.