YELENA KALYUZHNOVA is Coordinator at the Centre for Euro-Asian Studies at the Graduate School of European and International Studies, University of Reading. She is the author of The Kazakstani Economy: Independence and Transition, and editor of The Euro-Asian World: A Period of Transition. - MICHAEL TAYLOR is Reader in Financial Regulation and Director of Regulation and Compliance Programmes at the ISMA Centre, University of Reading and a Senior Economist in the Monetary and Exchange Affairs Department of the International Monetary Fund. He has written extensively on financial regulation as both a journalist and an academic.

• Dedication List of Tables and Figures Foreword List of Abbreviation Notes on the Contributors Introduction; Y.Kalyuzhnova & M.Taylor Developing Market Institutions in Transitional Economies; A.Shrivastava PART I: THE DEVELOPMENT OF THE BANKING SECTOR Bad Loans as Alternatives to Fiscal Transfers in Transition Economies; G.Tridimas Banking Transformations in Poland; K.Szymkiewicz PART II: NON-BANK REFORMS AND DEVELOPMENT OF FINANCIAL SECTOR Development of Capital Markets, Stock Exchanges and Securities Regulation in Transition Economies; J.Norton & D.Arner The Romanian Accounting Reforms: Another Case of Cultural Intrusion?; A.Roberts Reforming Pension System in Transitional Economies: Case Study Kazakhstan; Y.Kalyuzhnova PART III: SUPERVISION AND REGULATION OF FINANCIAL MARKETS International Standards and the Transitional Economies; D.Arner Building Supervisory Capacity in the Transition Economies; M.Taylor Conclusion; Y.Kalyuzhnova & M.Taylor Index