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Preface Part Ⅰ Institutions and Markets Section Ⅰ Transition of the Banking System 1 Are Western Banking Systems Successful Models for the Creation of Sound Banks in the Transition Economies of Central and Eastern Europe? Hans J.Blommestein 2 Problems and Strategies for the Commercialisation of Specialised Banks Zhang Meiling 3 Reform of China's Financial System under Local Government Access Zhang Jie 4 Some Puzzles of China's Financial System Reform Zhou Shengye and Ji Dongsheng Section Ⅱ The Functioning of Financial Markets 5 Internal Control and Central Bank Supervision in Western Banking:Conditions for Growth and Stability Wilco ten Berg 6 Mortgage Finance in Market Economies Menno Rempt 7 Improving Stock Market Performance by Removing Barriers to Entry and Changing Market Structure Holger van Eden Part Ⅱ Policy and Analysis Section Ⅲ Monetary Policy 8 The First Concern of China's Central Bank Is to Control Inflation He Zerong and Qing Shuqun 9 Monetary Policy:Its Scope and Limitations for Effecting Structural Change in China Anthonie Knoester Section Ⅳ Econometric Analysis of the Financial System 10 Modelling Monetary Behaviour:a Survey on Monetary Econometrics Martin Fase 11 Modelling the Money-Demand Function in China and Forecasting over Different Horizons Liu Bin and Deng Shuhui 12 Net Foreign Assets in China:Analysis and Forecasts Wang Xuekun and Deng Shuhui