Financial Reform: Theory and Experience - Softcover

Softcover

ISBN 10: 0521574242 ISBN 13: 9780521574242

Publisher: Cambridge University Press, 1996

Synopsis

This study, the first to look at the analytics of and experience with financial reform, examines a number of issues: the relationship between the financial and real sectors, and how this behavior can affect the economy at large; the process of reform and the sequencing of various elements, including in particular the timing of opening of the capital account; the impact of financial reforms on the efficiency with which capital is allocated.

About this title

From the Back Cover

This book examines the analytical basis and practical experience of financial reforms in a number of countries, primarily developing nations. A key finding is that financial reforms have led to improved resource allocation - an a priori belief not hitherto tested. This finding is consistent with the argument that efforts in developing countries to maximize efficiency of resource utilization cannot be underestimated in their importance. Three key lessons suggest the importance of managing the reform process rather than adopting a laissez-faire approach: first, more successful reform must take account of information capital; second, initial conditions in finance - balance sheets, human and information capital, and incentive systems - are fundamental in determining how to go about reform; and third, different sequences of reforms can be tolerated and, with certain preconditions, do well.

Edition details

• Publisher: Cambridge University Press
• Publication date: 1996
• Language: English
• ISBN 10: 0521574242
• ISBN 13: 9780521574242
• Binding: Paperback
• Number of pages: 494
• Editor: Caprio Jr Gerard, Atiyas Izak, Hanson James A.