Ringkasan Jurnal Penelitian

Financial sector development in Central and Eastern Europe has proved to be a dramatic process characterized by some well-trumpeted successes, but even more so by many unexpected collapses of seemingly decent institutions and some systemic meltdown as well. The overall record of transition in the area of financial sector development is much less impressive than the achievements in macroeconomic stabilization, economic liberalization, and privatization of formerly state-owned enterprises. There are several reasons for this. Chief among them are the complexities of the financial sector and the intense political as well as emotional sensitivity attached to any major move in this area. Influential stakeholders such as politicians, government officials, business, and media people tend to overestimate the real value of particular institutions and to overemphasize their importance to the national economy. In the absence of strong external and internal governance structures, managers and owne...

Researcher: Jan-Hinrik Meyer-Sahling , Kutsal Yeslkagit Publisher: Routledge Documentation: Journal of European Public Policy This article compares the status of historical legacies in explanations of administrative reform in Western Europe and Central and Eastern Europe. It addresses the puzzle that legacy effects in both regions are associated with institutional resilience and persistence even though the administrative history in these two regions differs considerably. The article clarifies the terminological differences between legacies, legacy explanations, legacy effects and administrative traditions. It then identifies three differences between administrative traditions in Europe East and West and argues that these differences matter for a tradition’s reproductive capacity, i.e., the degree to which an administrative tradition can act as a persistence-breeding force for contemporary administrative developments. The differences between East and West are (1) the long-term sta...