Synopsis
This volume summarizes the key lessons of financial history for emerging market and developing economies, mostly drawn from when OECD economies themselves were industrializing and did not possess the checks, balances, and supervisory capabilities they have today. The topics include the role of central banks, debates on how to make banking secure and sound, the relative efficiency of universal banking (compared with the Anglo-American commercial banking model), and the role of savings banks, nonbanks, and securities markets in development.
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Review
"This volume is sure to please financial historians no matter what their specialty. In addition, it should appeal to scholars of contemporary monetary regimes, especially those focusing on developing financial institutions....it should be required reading for all governemnt officials involved with the regulation of financial institutions." Michael Haupert, EH.NET BOOK REVIEW
"This volume is sure to please financial historians no matter what their specialty....it should appeal to scholars of contemporary monetary regimes, especially those focusing on developing financial institutions....it should be required reading for all government officials involved with the regulation of financial institutions." Michale Hupert, H-Net Reviews
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Reforming Financial Systems: Historical Implications for Policy
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Reforming Financial Systems: Historical Implications for Policy
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Reforming Financial Systems (Paperback)
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Paperback. Condition: new. Paperback. This volume summarizes the key lessons of financial history for emerging markets and developing economies today, including the rise and role of central banks, debates on how to make banking secure and sound, the relative efficiency of universal banking compared to the Anglo-American commercial banking model, and the role of savings banks, non-banks and securities markets in development. Two lessons that should be kept in mind in reforming financial systems are the importance of incentives and diversification. Robust financial systems require incentive systems that reward prudent risk-taking and encourage sound portfolio diversification. In addition, reputation has proved to be important: central bankers must demonstrate anew why they have earned a reputation for non-inflationary policies, and private intermediaries must similarly demonstrate again why they have earned a reputation for sound, as opposed to Ponzi, finance. Attempts to reform financial systems without due allowance for the time and effort to develop institutions, including reputation, are likely to prove short-lived. This volume summarizes the key lessons of financial history for emerging market and developing economies. Discussed topics include the role of central banks, debates on how to make banking secure and sound, the relative efficiency of universal banking (compared with the Anglo-American commercial banking model), and the role of savings banks, non-banks and securities markets development. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9780521032810
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Reforming Financial Systems: Historical Implications for Policy
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Paperback. Condition: new. Paperback. This volume summarizes the key lessons of financial history for emerging markets and developing economies today, including the rise and role of central banks, debates on how to make banking secure and sound, the relative efficiency of universal banking compared to the Anglo-American commercial banking model, and the role of savings banks, non-banks and securities markets in development. Two lessons that should be kept in mind in reforming financial systems are the importance of incentives and diversification. Robust financial systems require incentive systems that reward prudent risk-taking and encourage sound portfolio diversification. In addition, reputation has proved to be important: central bankers must demonstrate anew why they have earned a reputation for non-inflationary policies, and private intermediaries must similarly demonstrate again why they have earned a reputation for sound, as opposed to Ponzi, finance. Attempts to reform financial systems without due allowance for the time and effort to develop institutions, including reputation, are likely to prove short-lived. This volume summarizes the key lessons of financial history for emerging market and developing economies. Discussed topics include the role of central banks, debates on how to make banking secure and sound, the relative efficiency of universal banking (compared with the Anglo-American commercial banking model), and the role of savings banks, non-banks and securities markets development. This item is printed on demand. Shipping may be from our UK warehouse or from our Australian or US warehouses, depending on stock availability. Seller Inventory # 9780521032810
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Reforming Financial Systems (Paperback)
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ISBN 10: 0521032814
ISBN 13: 9780521032810
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Paperback. Condition: new. Paperback. This volume summarizes the key lessons of financial history for emerging markets and developing economies today, including the rise and role of central banks, debates on how to make banking secure and sound, the relative efficiency of universal banking compared to the Anglo-American commercial banking model, and the role of savings banks, non-banks and securities markets in development. Two lessons that should be kept in mind in reforming financial systems are the importance of incentives and diversification. Robust financial systems require incentive systems that reward prudent risk-taking and encourage sound portfolio diversification. In addition, reputation has proved to be important: central bankers must demonstrate anew why they have earned a reputation for non-inflationary policies, and private intermediaries must similarly demonstrate again why they have earned a reputation for sound, as opposed to Ponzi, finance. Attempts to reform financial systems without due allowance for the time and effort to develop institutions, including reputation, are likely to prove short-lived. This volume summarizes the key lessons of financial history for emerging market and developing economies. Discussed topics include the role of central banks, debates on how to make banking secure and sound, the relative efficiency of universal banking (compared with the Anglo-American commercial banking model), and the role of savings banks, non-banks and securities markets development. This item is printed on demand. Shipping may be from our Sydney, NSW warehouse or from our UK or US warehouse, depending on stock availability. Seller Inventory # 9780521032810