Poland, The Reform Of State-owned Banks In Russia And China, And Comparison

Transition economy refers to the country whose economic mechanism is central planning, and it is transiting towards market-oriented mechanism. At present, the transition economies include the Middle-East European countries, China and Viet Nam and other Asian countries. To these countries, finance is the essence of economy. As the essential financial credit source, banking is the significant part of finance. In the traditional central planning economy, state-owned banks take on the responsibility of financing the state-owned enterprises(SOEs). With the plan of central government, the lending from banking to SOEs holds on without considering any cost and returns. The kind of endless stream of finance to SOEs from banking backs the enterprises to maintain operating with low efficiency. Therefore, following the development of economy, the state-owned banks bear the increasing economic reform costs: such as the accumulation of non-performed loans, the deficiency of capital, the low competitiveness and so forth. With the further reform of economy, the low efficient banking became the key barrier in the way towards the market-oriented economy. While the restructuring of banking influences nearly every industry, and the influential scope of its reform is far-reaching, even to the stability of the whole economy. Thus the restructuring of banking is the heart of economy reform in every transition country. The problem of the state-owned banks in transition countries focuses on the arrangement of its property rights mechanism. In the traditional planning economy, the property rights of state-owned banks belong to the government. So the government has the right to interfere the banking daily operations. While the sound government performance aims to gain several targets, including the social target, political target, cultural target and economic one. So government tends to use banking as a tool to realize its targets, and the decision-making in banking operations tend to support government policies. The final result of the government interference is the functions mix of government, banking and enterprises. Under this kind of arrangement of property rights mechanism, no one would like to response to the low efficient operation of state-owned banks. And the lack of encouragement and restraint in this mechanism, the moral risk of banking managers is absolutely inevitable. Therefore the key of banking restructuring is the reform in mechanism of property rights.The clue of the thesis: At first, the theoretical analysis of property rights mechanism in transition economy is stated, aiming to point out that the final measure of banking restructuring is privatization, or introduction of several kinds of investors. If the privatization is successful, the owners of the state-owned banks are clear, and that will boost the improvement in banking governance. Second, from the practical aspect, elaboration and analysis of the concrete banking restructuring practice in Poland, Russia and China are made. These three countries are the typical in transition economies. The privatization of state-owned banks is the sound measure to improve the bank efficiency, and there are two prerequisite conditions before banking privatization, they are the resolution of the huge non-performed loans and capitalization to the state-owned banks. And how to resolve these two problems? Each country has its own ways. This thesis focuses on this problem, tries to study the restructuring of state-owned banks in transition economy through the analysis and research in the three typical countries.The structure of this thesis: there are five chapters altogether, the main contents are: In the Introduction, the reasons why choose this topic are given. The first chapter is the theoretical base of the whole thesis. Regarding the property rights mechanism of modern commercial banks as the object of reference, the demerits and problems of that of state-owned banks in transition country are obvious and distinct with the comparison. So the conclusion that...