Edited by Klaus Liebscher, Josef Christl, Peter Mooslechner and Doris Ritzberger-Grünwald
Chapter 6: Capacity building initiatives - A personal account from the giving and receiving end
6. Capacity building initiatives – a personal account from the giving and receiving end s Josef Tosovsk´ 1 y I would like to share my experience with capacity building from two perspectives: ﬁrst, as a former governor of a central bank in a transition economy – that is from the receiving end of technical assistance. Second, from the giving end, as the current head of the Financial Stability Institute (FSI), which among other activities helps to upgrade skills and knowledge, and to build capacity in the area of ﬁnancial regulation and supervision. Allow me to start with the ﬁrst perspective and a personal recollection of some historical developments. At the beginning of 1990, shortly after the ‘velvet revolution’ in the Czech Republic, a very small group of newly appointed government oﬃcials started to prepare economic reforms. In long discussions and meetings, we worked out proposals for very radical and fast structural economic changes. We soon realized that a swift transition from a centrally planned economy to a market economy, and the political change from a totalitarian regime to a democratic system, would not be without diﬃculties. We faced two basic kinds of problems. First, the structure of education and the mix of skills in a command economy did not match the needs of a market economy. Second, life under a socialist regime had shaped people’s quality of life, mentality and morals. These problems also undermined the ability of the central bank to fulﬁl its main task at the time,...
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