Overview

How do bank supervisors strike a balance between market self-regulation and pro-active regulatory intervention? This book investigates the choice of banking supervision approach in four European Union member states from Central and Eastern Europe – Bulgaria, Estonia, Hungary, and Slovenia – after their transition to democracy and market economy.

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9781137282743

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As the world still struggles with the legacy of Lehman Brother's collapse, this timely book leads us into the dilemmas of banking regulation and supervision. Why some national regulators choose a hands-off approach that attract foreign investors but risks fueling credit bubbles? And why do others opt for a more interventionist supervision that can nonetheless discourage foreign investors and stifle lending? Spendzharova brilliantly answers these questions using a wealth of first-hand data on banking governance in Bulgaria, Estonia, Hungary, and Slovenia. Her analysis is a required reading not only for those interested in the economic challenges that Central and Eastern Europe faced with the transition to a market economy but also to all scholars working in the politics of banking regulation. - Manuela Moschella, Assistant Professor in Political Science, University of Turin, Italy and Senior Fellow at the Center for International Governance Innovation (CIGI), Waterloo, Canada Aneta Spendzharova's study is a sophisticated treatment of how countries in East Central Europe use their regulatory authority to cope with very high levels of foreign bank ownership. Since current trends for countries everywhere suggest more foreign bank ownership, not less, the findings here are valuable for anyone interested in the governance of finance. - Rachel Epstein, Josef Korbel School, University of Denver, USA This book offers an innovatively theorised and meticulously researched account of the main determinants of the institutional arrangements for banking supervision in a variety of Central and Eastern European countries. The research also sheds novel light onto the very topical issue of the preferences of these countries in the redesign of the banking regulatory regime in the European Union. It will be of great interest to scholars in comparative political economy, regulation and EU studies. Lucia Quaglia, Department of Politics, University of York, UK

As the world still struggles with the legacy of Lehman Brother's collapse, this timely book leads us into the dilemmas of banking regulation and supervision. Why some national regulators choose a hands-off approach that attract foreign investors but risks fueling credit bubbles? And why do others opt for a more interventionist supervision that can nonetheless discourage foreign investors and stifle lending? Spendzharova brilliantly answers these questions using a wealth of first-hand data on banking governance in Bulgaria, Estonia, Hungary, and Slovenia. Her analysis is a required reading not only for those interested in the economic challenges that Central and Eastern Europe faced with the transition to a market economy but also to all scholars working in the politics of banking regulation. - Manuela Moschella, Assistant Professor in Political Science, University of Turin, Italy and Senior Fellow at the Center for International Governance Innovation (CIGI), Waterloo, Canada Aneta Spendzharova's study is a sophisticated treatment of how countries in East Central Europe use their regulatory authority to cope with very high levels of foreign bank ownership. Since current trends for countries everywhere suggest more foreign bank ownership, not less, the findings here are valuable for anyone interested in the governance of finance. - Rachel Epstein, Josef Korbel School, University of Denver, USA This book offers an innovatively theorised and meticulously researched account of the main determinants of the institutional arrangements for banking supervision in a variety of Central and Eastern European countries. The research also sheds novel light onto the very topical issue of the preferences of these countries in the redesign of the banking regulatory regime in the European Union. It will be of great interest to scholars in comparative political economy, regulation and EU studies. Lucia Quaglia, Department of Politics, University of York, UK 'Spendzharova's impressive study on banking regulation and supervision in Central and Eastern Europe is a lesson in effective comparative political economy analysis that should be read by all political scientists. This work is a major contribution not just to the literature on banking sector governance but also, more broadly, to the literature on the regulatory state.' David Howarth, Professor in Political Economy, University of Luxembourg

This book explores the theory and practice of how countries choose bank regulatory apparati, with a particular focus on the historical context of central and eastern European regulatory regimes. ... This book is a good read for anyone interested in political economic theories of financial regulation, and particularly good for those interested in eastern and central European - as well as western European - experiences in those fields. (Nina Quinn Eichacker, Journal of Common Market Studies, Vol. 54 (1), 2016)

Author Information

Aneta Spendzharova is Assistant Professor in Political Science at Maastricht University, the Netherlands. Her research interests are in the areas of comparative political economy, banking supervision, and European Union politics. Her research has appeared in journals such as Journal of International Political Economy and Journal of Common Market Studies.

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