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Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 412 |
Release | : 1991-03-15 |
Genre | : Business & Economics |
ISBN | : 9781557757791 |
Download Sequencing Financial Sector Reforms Book in PDF, ePub and Kindle
Financial sector liberalization can spur economic growth and development, but reforms to liberalize the financial sector can also entail risks if they are not properly designed and implemented. One of the central questions for countries reforming their financial systems is how to sequence the reforms so as to maximize the benefits of liberalization and contain its risks. Edited by R. Barry Johnston and V. Sundararajan of the IMF's Monetary and Exchange Affairs Department, this book attempts to answer this and related questions by drawing lessons from financial sector reforms in selected countries. In particular, the book surveys financial sector reforms in Indonesia, Thailand, and Korea between the mid-1980s and mid-1990s.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 104 |
Release | : 1992-10-01 |
Genre | : Business & Economics |
ISBN | : 1451954662 |
Download Issues in Managing and Sequencing Financial Sector Reforms Lessons From Experiences in Five Developing Countries Book in PDF, ePub and Kindle
A review of the experience of five developing countries in reforming their financial systems illustrates the benefits and risks, and provides lessons on the factors which contribute to successful financial sector reforms. Financial sector reforms need to be supported by active monetary policy, and the adoption of new monetary control procedures early in the reform program; reforms should be sequenced consistently with the broader program of macroeconomic adjustment. The pace of liberalization of interest rates and credit should also take account of the solvency of financial and nonfinancial firms. A minimal system of prudential regulation is an essential element of successful financial sector reform.
Author | : Vicente Galbis |
Publisher | : International Monetary Fund |
Total Pages | : 32 |
Release | : 1994-09-01 |
Genre | : Business & Economics |
ISBN | : 1451852460 |
Download Sequencing of Financial Sector Reforms Book in PDF, ePub and Kindle
This paper provides a review of the literature on both analytical issues and country experiences on the sequencing of financial sector reforms. It discusses the choice between big-bang and gradual reforms, the relationship of financial sector reforms to other economic reforms, the internal sequencing of financial sector measures and the influence of initial conditions. It is concluded that a pragmatic approach to the sequencing issue is necessary as there are only a few general principles valid for all countries.
Author | : Alison Harwood |
Publisher | : Brookings Institution Press |
Total Pages | : 212 |
Release | : 2010-12-01 |
Genre | : Business & Economics |
ISBN | : 9780815720959 |
Download Sequencing? Book in PDF, ePub and Kindle
The importance of the financial system in economic development has been frequently neglected by analysts and poorly understood by policymakers. Are there policy reforms, or any particular sequence of reform measures, that will contribute to the successful functioning of the financial system and thus spur long-term economic growth? What kind of regulatory changes are appropriate as countries move toward financial liberalization and as government development banks decline in importance compared to private banks and nonbank financial institutions? What broad lessons can be discerned from the experience of financial reform in Asia and Latin America for the transitional countries of Russia and Eastern Europe? The world's financial system has been buffeted in recent years by the crisis in the U.S. savings and loan industry, the implosion of the Japanese "bubble economy" of the late 1980s, the Mexican peso crisis, and other events. The experience of Western nations in adapting to financial liberalization can provide useful insights for the many countries embarking on a course of market reforms and beginning to build the financial infrastructure for a market economy. This volume analyzes the recent financial reforms and reform strategies in Asia, Latin America, Eastern Europe, and Russia. The chapters draw on the extensive practical experience of the authors and reflect the most recent empirical research in the field. The contributors are Gerald Caprio, Jr., Dimitri Vittas, and Ross Levine, the World Bank; David C. Cole and Betty F. Slade, Harvard Institute for International Development; Maxwell J. Fry, University of Birmingham at Edgbaston; Claudio Gonzalez-Vega, Ohio State University; Stephan Haggard, University of California, San Diego; R. Barry Johnston, International Monetary Fund; Philip A. Wellons, Harvard Law School; Lawrence J. White, New York University; and Alison Harwood.
Author | : Fondo Monetario Internacional |
Publisher | : |
Total Pages | : 27 |
Release | : 1994 |
Genre | : |
ISBN | : |
Download Sequencing of financial sector reforms Book in PDF, ePub and Kindle
Author | : A. Bisat |
Publisher | : |
Total Pages | : |
Release | : 1992 |
Genre | : |
ISBN | : |
Download Issues in Managing and Sequencing Financial Sector Reforms Lessons from Experience in Five Developing Countries Book in PDF, ePub and Kindle
Author | : Mr.Jonathan David Ostry |
Publisher | : International Monetary Fund |
Total Pages | : 62 |
Release | : 2009-10-15 |
Genre | : Business & Economics |
ISBN | : 1589068181 |
Download Structural Reforms and Economic Performance in Advanced and Developing Countries Book in PDF, ePub and Kindle
This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.
Author | : Deena R. Khatkhate |
Publisher | : |
Total Pages | : 31 |
Release | : 1998 |
Genre | : Interest rates |
ISBN | : 9789839553987 |
Download Timing and Sequencing of Financial Sector Reforms Book in PDF, ePub and Kindle
Author | : Robert Barry Johnston |
Publisher | : |
Total Pages | : 32 |
Release | : 1998 |
Genre | : Capital movements |
ISBN | : |
Download Sequencing Capital Account Liberalizations and Financial Sector Reform Book in PDF, ePub and Kindle
Author | : Abdul Abiad |
Publisher | : International Monetary Fund |
Total Pages | : 30 |
Release | : 2008-12 |
Genre | : Business & Economics |
ISBN | : |
Download A New Database of Financial Reforms Book in PDF, ePub and Kindle
This paper introduces a new database of financial reforms, covering 91 economies over 1973–2005. It describes the content of the database, the information sources utilized, and the coding rules used to create an index of financial reform. It also compares the database with other measures of financial liberalization, provides descriptive statistics, and discusses some possible applications. The database provides a multi-faceted measure of reform, covering seven aspects of financial sector policy. Along each dimension the database provides a graded (rather than a binary) score, and allows for reversals.