The Economics of Financial Reform in Developing Countries - Hardcover

Reseña del editor

The initial enthusiasm which greeted the experiments in financial reform of the 1970s and 1980s has been replaced in some countries by skepticism and disillusionment about the effectiveness of such reform. This book analyzes a set of Asian and Latin American countries' experiences to determine the anatomy of success and failure of financial reform policies. It characterizes the post-reform behavior of developing countries' financial markets and argues that knowledge of these characteristics facilitates appropriate responses of policy makers and financial managers and improves the chance of success of financial reform policies. Policy makers in developing countries have often expressed an interest in establishing stock exchanges and forward exchange markets, and in implementing regulations for the safety and soundness of their financial institutions. The book therefore addresses the establishment of a stock exchange and a forward exchange market and the implementation of appropriate regulations for financial institutions in developing countries.