Late Banking Transitions : Comparing Uzbekistan to Earlier Reformers

Uzbekistan is one of the late transition economies. This paper compares the early experience and challenges that Uzbekistan confronts in transitioning its banking system to market principles against the earlier experience with banking transitions f...

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Main Authors:	Babasyan, Davit, Gu, Yunfan, Melecky, Martin
Format:	Working Paper
Language:	English
Published:	World Bank, Washington, DC 2022
Subjects:	TRANSITION TO MARKET ECONOMY FORMER TRANSITION ECONOMIES PUBLIC FINANCIAL MANAGEMENT REFORMS BANKING TRANSITION BANKING REFORM FINANCIAL SECTOR PRIVATIZATION MEDIUM TERM BANKING REFORM
Online Access:	http://documents.worldbank.org/curated/en/099918403232210392/IDU00d5418c80f89e0407c0a74c087e39a506442 http://hdl.handle.net/10986/37221

id	okr-10986-37221
recordtype	oai_dc
spelling	okr-10986-372212022-03-26T05:10:44Z Late Banking Transitions : Comparing Uzbekistan to Earlier Reformers Babasyan, Davit Gu, Yunfan Melecky, Martin TRANSITION TO MARKET ECONOMY FORMER TRANSITION ECONOMIES PUBLIC FINANCIAL MANAGEMENT REFORMS BANKING TRANSITION BANKING REFORM FINANCIAL SECTOR PRIVATIZATION MEDIUM TERM BANKING REFORM Uzbekistan is one of the late transition economies. This paper compares the early experience and challenges that Uzbekistan confronts in transitioning its banking system to market principles against the earlier experience with banking transitions from Poland, Russia, and Vietnam, and other relevant evidence from the literature. To that effect, the paper uses new data on Uzbekistan’s banking sector, the data on past transition economies, and qualitative and quantitative evidence from the literature. Uzbekistan’s latest experience with banking transition generates important lessons for countries that have yet to transition. Namely, how much can a new transitioning country reasonably expect to accomplish within the medium term Which banking reforms are the most essential and how should they best be sequenced How can expectations about efficient capital reallocation be managed, access to finance made more equitable, and transition risks of financial instability be mitigated What are the complementary reforms in the real sector, especially of state-owned enterprises and the competition framework, that need to happen in tandem for the new banking market to function properly 2022-03-25T19:20:23Z 2022-03-25T19:20:23Z 2022-03 Working Paper http://documents.worldbank.org/curated/en/099918403232210392/IDU00d5418c80f89e0407c0a74c087e39a506442 http://hdl.handle.net/10986/37221 English Policy Research Working Paper;9984 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Policy Research Working Paper Europe and Central Asia Uzbekistan
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	TRANSITION TO MARKET ECONOMY FORMER TRANSITION ECONOMIES PUBLIC FINANCIAL MANAGEMENT REFORMS BANKING TRANSITION BANKING REFORM FINANCIAL SECTOR PRIVATIZATION MEDIUM TERM BANKING REFORM
spellingShingle	TRANSITION TO MARKET ECONOMY FORMER TRANSITION ECONOMIES PUBLIC FINANCIAL MANAGEMENT REFORMS BANKING TRANSITION BANKING REFORM FINANCIAL SECTOR PRIVATIZATION MEDIUM TERM BANKING REFORM Babasyan, Davit Gu, Yunfan Melecky, Martin Late Banking Transitions : Comparing Uzbekistan to Earlier Reformers
geographic_facet	Europe and Central Asia Uzbekistan
relation	Policy Research Working Paper;9984
description	Uzbekistan is one of the late transition economies. This paper compares the early experience and challenges that Uzbekistan confronts in transitioning its banking system to market principles against the earlier experience with banking transitions from Poland, Russia, and Vietnam, and other relevant evidence from the literature. To that effect, the paper uses new data on Uzbekistan’s banking sector, the data on past transition economies, and qualitative and quantitative evidence from the literature. Uzbekistan’s latest experience with banking transition generates important lessons for countries that have yet to transition. Namely, how much can a new transitioning country reasonably expect to accomplish within the medium term Which banking reforms are the most essential and how should they best be sequenced How can expectations about efficient capital reallocation be managed, access to finance made more equitable, and transition risks of financial instability be mitigated What are the complementary reforms in the real sector, especially of state-owned enterprises and the competition framework, that need to happen in tandem for the new banking market to function properly
format	Working Paper
author	Babasyan, Davit Gu, Yunfan Melecky, Martin
author_facet	Babasyan, Davit Gu, Yunfan Melecky, Martin
author_sort	Babasyan, Davit
title	Late Banking Transitions : Comparing Uzbekistan to Earlier Reformers
title_short	Late Banking Transitions : Comparing Uzbekistan to Earlier Reformers
title_full	Late Banking Transitions : Comparing Uzbekistan to Earlier Reformers
title_fullStr	Late Banking Transitions : Comparing Uzbekistan to Earlier Reformers
title_full_unstemmed	Late Banking Transitions : Comparing Uzbekistan to Earlier Reformers
title_sort	late banking transitions : comparing uzbekistan to earlier reformers
publisher	World Bank, Washington, DC
publishDate	2022
url	http://documents.worldbank.org/curated/en/099918403232210392/IDU00d5418c80f89e0407c0a74c087e39a506442 http://hdl.handle.net/10986/37221
_version_	1764486760441577472

Late Banking Transitions : Comparing Uzbekistan to Earlier Reformers

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