This timely reader of seminal papers published by Palgrave on behalf of Comparative Economic Studies, examines how and why foreign banks enter emerging markets and the positive benefits they bring to the host countries.

Josef C. Brada is Professor Emeritus of Economics at Arizona State University, USA, Foreign Member of the Macedonian Academy of Sciences and Arts, and President of the Society for the Study of Emerging Markets. His research focuses on international economics, comparative economic systems, and economics of transition. He has served as a consultant to the OECD, the World Bank, and the United Nations Economic Commission for Europe as well as to governments in Europe and Latin America. Born in Czechoslovakia, he received a BS in Chemical Engineering and an MA in Economics from Tufts University, USA, and a PhD from the University of Minnesota, USA.

Paul Wachtel is Professor of Economics and Academic Director, B.S. in Business and Political Economy Program at the Stern School of Business, New York University, USA. His primary areas of research include monetary policy, central banking, and financial sector reform in economies in transition. He has been a research associate at the National Bureau of Economic Research, a senior economic advisor to the East West Institute, and a consultant to the Bank of Israel, the IMF and the World Bank. Wachtel is the co-editor ofComparative Economic Studies and serves on the editorial boards of several other journals. He received his undergraduate degree from Queens College, City University of New York, USA, and his MA and PhD degrees from the University of Rochester, USA.

List of Figures
List of Tables
Notes on Editors
1. Introduction
Josef C. Brada, Paul Wachtel
2. The Dark and the Bright Side of Global Banking: A (Somewhat) Cautionary Tale from Emerging Europe
Ralph de Haas
3. From Reputation amidst Uncertainty to Commitment under Stress: More than a Decade of Foreign-Owned Banking in Transition Economies
John P. Bonin
4. Banking Competition and Efficiency: A Micro-Data Analysis on the Czech Banking Industry
Anca Pruteanu-Podpiera, Laurent Weill, Franziska Schobert
5. Relationship Lending in Emerging Markets: Evidence from the Czech Republic
Adam Ger¨l, Petr Jakubík
6. Private-Sector Credit in Central and Eastern Europe: New (Over) Shooting Stars?
Balázs Égert, Peter Backé, Tina Zumer
7. The Boom in Household Lending in Transition Countries: A Croatian Case Study and a Cross-Country Analysis of Determinants
Evan Kraft
8. Are Weak Banks Leading Credit Booms? Evidence from Emerging Europe
Natalia T. Tamirisa, Deniz O. Igan
9. What Drives Bank Lending in Domestic and Foreign Currency Loans in a Small Open Transition Economy with Fixed Exchange Rate? The Case of Macedonia
Jane Bogoev
10. Do Foreign Banks Stabilize Cross-Border Bank Flows and Domestic Lending in Emerging Markets? Evidence from the Global Financial Crisis
Ursula Vogel, Adalbert Winkler
11. Risk Taking by Banks in Transition Countries
Rainer Haselmann, Paul Wachtel
12. The Sequence of Bank Liberalisation: Financial Repression versus Capital Requirements in Russia
Sophie Claeys, Koen Schoors, Rudi Vandervennet
13. Impact and Implementation Challenges of the Basel Framework for Emerging, Developing and Small Economies
Jan Frait, Vladimír Tom¨ík
Index
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