Published in 1998, this book provides detailed information on the financial markets in selected Central European transitioning economies. The independent countries selected for study in the text are Poland, Hungary, the Czech Republic and the Slovak Republic. The former East Germany is also include due to its proximity to the above countries and its unique experience in the transition process. Each country's section of the book contains articles written by professionals in the selected country. These individuals are economists, central bankers and/or analysts who have first-hand knowledge of the financial system. Each section details: the development in the banking sector plus the role of the central bank and the government in guiding the economy toward the market system; discuses the emerging capital markets and the ongoing process of privatization; and provides an update of the economic progress toward a market system that has been achieved since 1989.