Contents -- Foreword -- Preface -- Acknowledgments -- Contributors -- Overview -- Part I Global Financial Markets and the Transition Economies -- Chapter 1 Transition Economies in the Evolving Global Financial Markets -- Chapter 2 Financial Integration in Western Europe: Can the East Catch Up? -- Part II Financial Sector Development in Perspective -- Chapter 3 A Perspective on Financial Sector Development in Central and Eastern Europe . -- Chapter 4 Challenges of Financial System Development in Transition Economies -- Part III Banking Sector Restructuring -- Chapter 5 Estonia: The Financial System in Retrospect and Prospect -- Chapter 6 Financial Sector Restructuring: The Croatian Experience -- Chapter 7 Financial Sector Restructuring in Bulgaria 1997-2001 -- Chapter 8 Financial Markets in Hungary: Achievements and Prospective Challenges -- Chapter 9 Restructuring the Russian Banking System -- Chapter 10 Evolution of the Banking Sector in Central Asia -- Part IV Capital Markets: Ready to Take Off or Stalled in Flight? -- Chapter 11 Stock Markets in Transition Economies -- Chapter 12 Emerging Stock Markets in Central Europe: Where Do We Stand? -- Chapter 13 Emerging Capital Markets: A Slovenian Perspective -- Chapter 14 Czech Capital Markets: Illusions and Disillusions -- Chapter 15 Capital Market Development in the Russian Federation -- Part V Lessons Learned and Future Challenges -- Chapter 16 Banking Transition: A Comparative Analysis -- Chapter 17 Financial Deepening and the Role of Financial Crises -- Chapter 18 Aspects of Banking Supervision . -- Chapter 19 Finance in the New Millenium -- Part VI The Roles of the World Bank and the International Monetary Fund -- Chapter 20 The Evolving Role of the World Bank in ECA Financial Sectors -- Chapter 21 Financial Policy in Transition Economies: An IMF Perspective -- Index.