Financial Opening. Policy Issues and Experiences in Developing Countries

herausgegeben von Reisen, Helmut; Fischer, Bernhard:

ISBN 10: 9264038620 / ISBN 13: 9789264038622

Published by OECD Organisation for Economic Co-Operation and Development, Paris, 1993

About this Item

Sprache: Deutsch Broschur 4;; 270 Seiten; Bibliotheksstempel auf Rückseite Haupttitel - sonst wohlerhalten; Bibliotheksstempel auf Rückseite Haupttitel; Tabellen, Diagramme, Formeln; Englisch-Französischer Paralleltext - There is rich policy background to this conference volume. The OECD Codes of Liberalisation, which commit OECD Members to financial opening, constitute a policy challenge to advanced developing countries contemplating membership in the OECD. The same group of countries is also facing the challenges of bilateral pressure to open up the financial system and the implications of the current Uruguay Round. Finally, there is a policy conundrum, for financial opening entails the risk of increased financial fragility and overvalued currencies (as demonstrated by countries of Latin America in the late 1970s and early 1980s) and, moreover, the economic performance of some countries with quite restricted financial systems, notably South Korea and Taiwan, has been excellent. Other Asian economies, Singapore, Hong Kong, Malaysia and Indonesia, have also performed very well but with open financial systems. What are the lessons in this for other developing countries? In particular, this book tries to explain why the capital account should be opened, and how and when it should be done. The editors should be commended for having assembled the people who were most likely to provide the right answers to the policy questions outlined above. The conference participants (and authors) include monetary policy makers, financial experts from international organisations, and some prominent academics. Their exchange of views was sometimes controversial, mostly well-founded and always lively when they met at the OECD headquarters on 6 and 7 July 1992. I am confident that the present volume reflects the subtle differences in views on opening the capital account, a complex topic which does not lend itself to simple statements. - - -.

Seller Inventory # 1034614AB

Bibliographic Details

• Title: Financial Opening. Policy Issues and Experiences in Developing Countries
• Publisher: OECD Organisation for Economic Co-Operation and Development, Paris
• Publication Date: 1993
• Language: English
• ISBN 10: 9264038620
• ISBN 13: 9789264038622
• Binding: Soft cover
• Seller catalogs:
  • Varia

About this title

Synopsis

This conference volume on financial opening in developing countries brings together the analyses of central bankers, experts from international organizations, and prominent macro-economists. While the ultimate objective of opening is increased efficiency and growth, the reform process must be carefully designed to achieve these results while avoiding the risks of financial fragility and overvalued currencies. The book provides detailed reports on the general policy issues involved, as well as more specific information on financial opening in a variety of developing countries.

Language Notes

Text: English
Introduction: French