One of the key constraints to accelerated economic performance in developing countries is, in the authors' view, the absence of strong, dynamic financial systems. Many, if not most, developing countries suffer from repressed financial systems. Thus the most important step in effecting the ...
One of the key constraints to accelerated economic performance in developing countries is, in the authors' view, the absence of strong, dynamic financial systems. Many, if not most, developing countries suffer from repressed financial systems. Thus the most important step in effecting the development of capital markets is to lay a foundation of sound macroeconomic, sectorial, and regulatory policies conducive to financial sector development. This book presents a unique approach to financial sector reform composed of financial sector diagnosis, policy and institutional targeting, macroeconomic reforms, bank regulation and supervision reform, and privatization.