Press Release

On November 4, 2003, on the occasion of this year’s East-West Conference of the Oesterreichische Nationalbank (OeNB), Peter Mooslechner, Director of the OeNB’s Economic Analysis and Research Section, presented the Olga Radzyner Award for Scientific Work on Monetary and Finance Themes for Young Economists from Central, Southeastern and Eastern European Transition Economies. The prize of EUR 2,500.00 for each winner was established by the Oesterreichische Nationalbank in commemoration of Olga Radzyner, former Head of the OeNB’s Foreign Research Divison and pioneer of the Bank’s CEE analysis activities, who died in a tragic accident three years ago. The Olga Radzyner Award was conferred for the fourth time since its inception. A large number of candidates submitted high-quality research papers, most of which were master’s or doctoral theses. The following three winners were selected: 

• Rafal Kierzenkowski (Poland) with his study 
  "The Multi-Regime Bank Lending Channel and the Effectiveness of the Polish Monetary Policy Transmission during Transition;"
• Márton Nagy and Csaba Móré (Hungary) with their joint research entitled 
  "Relationship between Market Structure and Bank Performance: Empirical Evidence for Central and Eastern Europe;" and 
• Adriana Lojschová (Slovak Republic) with her study 
  "Estimating the Impact of the Balassa-Samuelson Effect in Transition Economies."         

At the presentation ceremony, Peter Mooslechner pointed out that the Olga Radzyner Award demonstrated the key importance the OeNB attaches to promoting economic research in the Central and Eastern European transition economies. The Olga Radzyner Award has come to represent an essential element in the OeNB’s technical cooperation with Central and Eastern Europe, alongside the training programs for young financial experts from transition countries that it organizes in cooperation with the Joint Vienna Institute, which also cohosts this year’s East-West Conference, and the close bilateral links maintained with central banks and research institutions in the CEECs.