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This study asks whether transplanting banks can solve the problems involved in creating a well functioning market economy from outside, looking especially at the virtual complete takeover of East German banks by their Western counterparts after unification. Drawing on a wide range of English and German sources, and fieldwork interviews across Germany, it argues that there are no quick-fix solutions to transition to a market. Implications are discussed for East Germany and for other previously centrally planned economies, and the global implications of foreign ownership in banking are considered.
Author Biography
DR. GREGG S. ROBINS is EMU Project Head for The Citibank Private Bank and is leading the effort to prepare the Private Bank for EMU. As an independent consultant he previously advised Citibank on financial market developments with emphasis on Russia and Eastern Europe. Dr. Robins has published articles in The Oxford International Review and Problems of Communism .
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