Late banking transitions: Comparing Uzbekistan to earlier reformers
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F23%3A10253325" target="_blank" >RIV/61989100:27510/23:10253325 - isvavai.cz</a>
Result on the web
<a href="https://www.sciencedirect.com/science/article/pii/S2452292923000097?via%3Dihub" target="_blank" >https://www.sciencedirect.com/science/article/pii/S2452292923000097?via%3Dihub</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.wdp.2023.100493" target="_blank" >10.1016/j.wdp.2023.100493</a>
Alternative languages
Result language
angličtina
Original language name
Late banking transitions: Comparing Uzbekistan to earlier reformers
Original language description
This paper compares the early experience of Uzbekistan with transitioning its banking system to market principles with the experience of former transition economies. To that effect, it uses novel data on Uzbekistan's banking sector, data on former transition economies, and evidence from the literature. We find that the 2017 financial liberalization triggered a larger credit boom than former transition countries experienced. The Covid-19 pandemic helped tame the boom and secure a soft landing. Good capitalization of the largest state banks serves as a backstop against a systemic banking crisis. However, structural reform gaps need to be closed for financial deepening to continue sustainably. The state banks enjoy privileged access to longer-term financing, larger economies of scale, and bailout capital injections that inhibit banking competition. The human capital in banking appears lower than what the former transition countries started with and could deter FDI into banking. The small private sector, lacking commercialization, and slow privatization of state enterprises-as well as the state enterprise-state bank nexus-are other factors inhibiting fair banking competition. Financial sector institutions such as risk-based supervision, accounting and auditing, bank resolution, and deposit insurance still fall behind good international practices. The broader governance of state banks is one political economy factor hindering faster transformation of the banking sector in Uzbekistan.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50206 - Finance
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2023
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
World Development Perspectives
ISSN
2452-2929
e-ISSN
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Volume of the periodical
30
Issue of the periodical within the volume
June
Country of publishing house
US - UNITED STATES
Number of pages
15
Pages from-to
100493
UT code for WoS article
000972622700001
EID of the result in the Scopus database
2-s2.0-85150215853