Financial Sector Reform And Central Banking In Centrally Planned Economies

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 24 pages
File Size : 41,7 Mb
Release : 1990-12-01
Category : Business & Economics
ISBN : 9781451939569

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Financial Sector Reform and Central Banking in Centrally Planned Economies by International Monetary Fund Pdf

This paper reviews key areas of central banking reform in a sample of centrally planned economies undergoing transition to market-based systems. The discussion draws mainly on the experiences of four countries, Hungary, Poland, Czechoslovakia, and China. Significant efforts have been made, or are under consideration, in all countries to develop a more efficient framework for monetary management, and to provide greater autonomy to central banks in macro stabilization policies. These objectives call for a coordinated approach to strengthening a wide range of central banking functions simultaneously, and require that a core mass of supporting financial sector reforms be implemented to ensure effective transformation and stabilization with minimal transitional costs.

Author : Patrick Downes,Reza Vaez-Zadeh
Publisher : International Monetary Fund
Page : 472 pages
File Size : 50,6 Mb
Release : 1991
Category : Business & Economics
ISBN : 9781455240609

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The Evolving Role of Central Banks by Patrick Downes,Reza Vaez-Zadeh Pdf

Central Banks should enjoy a fair degree of autonomy in pursuing price stability to promote long-run growth and prosperity. This volume, edited by Patrick Downes and Reza Vaez-Zadeh, contains the papers presented at the fifth IMF seminar on central banking issues in November 1990. The theme was the interdependence of central bank functions and the role of central bank autonomy.

Author : Mario I. Blejer,Silvia B. Sagari
Publisher : World Bank Publications
Page : 31 pages
File Size : 41,5 Mb
Release : 1991
Category : Sector financiero - Hungria
ISBN : 8210379456XXX

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Hungary : financial sector reform in a socialist economy by Mario I. Blejer,Silvia B. Sagari Pdf

Author : N. Mathieu
Publisher : World Bank Publications
Page : 108 pages
File Size : 48,9 Mb
Release : 1998
Category : Business & Economics
ISBN : 0821342916

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Financial Sector Reform by N. Mathieu Pdf

Soon after its declaration of independence, Lithuania launched a program of market-based economic reforms that achieved remarkable results. However, a banking crisis erupted in January 1996, driven by a combination of ineffective bank supervision, poor bank practices, and deep-rooted sectoral imbalances. With financial support from the World Bank, Lithuanian authorities embarked on a broad economic reform program with two immediate objectives: the resolution of the banking system's operational and undercapitalization problems, and a reduction in the most severe imbalances in the economy. Volume I (see ordering information below) distills findings and conclusions and builds a policy action plan for fast stable growth. Volume II contains a collection of twelve policy notes that provide the technical analysis behind that plan. Also available: Volume II/Analytical Backgroung(ISBN 0-8213-4327-0) Stock no. 14327.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 52 pages
File Size : 53,5 Mb
Release : 1996-12-01
Category : Business & Economics
ISBN : 9781451855555

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Financial Sector Reform and Banking Crises in the Baltic Countries by International Monetary Fund Pdf

Financial sector reform in the Baltic countries is reviewed in light of the banking crises that emerged during the reform period. It is argued that the crises had their roots in the structural deficiencies specific to planned economies and the financial environment that developed before and after these countries regained their independence, thus rendering them largely inevitable. Because of the low level of financial intermediation, however, even the failure of large banks had limited systemic effects and a minor negative impact on output and incomes. The crises slowed down the financial reform process, but brought about a desired consolidation of the banking sector.

Author : Feng Wei
Publisher : Mohr Siebeck
Page : 334 pages
File Size : 49,5 Mb
Release : 2000
Category : Business & Economics
ISBN : 3825845559

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China's Financial Sector Reform in the Transition to a Market Economy by Feng Wei Pdf

" The book is a problem-oriented study of China's financial sector in the transitional process since 1979. It provides deep and precise insights into the characteristics and problems of China's financial sector with respect to investment finance, the central banking and commercial banking systems, the financial market, and the legal and institutional framework of bank supervision in China. More importantly, the book has also proposed workable strategies for resolving two acute problems: interest rate liberalization and solving the issue of non-performing loans in China's banking system. The recent financial crisis in Asia is also a subject of the book, especially as regards its effects on the banking sector, stock markets, and extemal financial market liberalization in China. Furthermore, a projection is made about the trends in Chinese economic policies, particularly the interest rate policy, the exchange rate policy, and the fiscal policy, and about the perspectives of China's financial sector reform. This book is a valuable reference for academic researchers, investors, business managers, and policy-makers who are concemed with China's banking and financial system. "

Author : A. W. Mullineux
Publisher : Nova Biomedical Books
Page : 278 pages
File Size : 47,7 Mb
Release : 1995
Category : Business & Economics
ISBN : UOM:39015038431824

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Financial Reform in Central and Eastern Europe by A. W. Mullineux Pdf

The first part of this book consists of seven chapters which draw lessons for the transforming economies from the experiences of EC member countries (including, Eastern Germany), the U.S., and South-East Asian 'Pacific Rim' countries. The second part of the book contains a further six chapters which focus on the experiences of Poland in the early phase of its transition with regard to privatisation, the microeconomic impact of monetary policy and banking sector reform, and draws lessons for other transforming economies.

Author : Mr.Michael G. Spencer,Mr.H. J. Blommestein
Publisher : International Monetary Fund
Page : 50 pages
File Size : 50,5 Mb
Release : 1993-10-01
Category : Business & Economics
ISBN : 9781451849653

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The Role of Financial Institutions in the Transition to a Market Economy by Mr.Michael G. Spencer,Mr.H. J. Blommestein Pdf

Financial institutions intermediate between savers and investors and contribute to corporate governance. Equity and bond markets in the former centrally planned economies are not yet in a position adequately to provide these services. It is not yet clear that investment funds will provide the necessary financing and corporate management. Therefore the first priority for financial sector reforms must be to establish a healthy commercial banking sector. Banks are the most promising source of financing, provide payment services which are crucial to both the real and financial sectors and, by monitoring the use of loaned funds, will be the primary source of corporate governance during the transformation to a market economy.

Author : Mr.R. B. Johnston,Ceyla Pazarbasioglu
Publisher : International Monetary Fund
Page : 32 pages
File Size : 41,7 Mb
Release : 1995-10-01
Category : Business & Economics
ISBN : 9781451948110

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Linkages Between Financial Variables, Financial Sector Reform and Economic Growth and Efficiency by Mr.R. B. Johnston,Ceyla Pazarbasioglu Pdf

This paper analyzes the different channels through which financial variables and financial sector reform can affect economic growth and efficiency, using panel data for 40 countries which reformed their financial systems. Financial sector reform is hypothesized to affect economic growth and efficiency through three main channels: the real interest rate representing the interest cost of capital, the volume of intermediation, and financial sector efficiency. The results indicate that financial reforms have structural effects; that financial variables and reforms are important determinants of economic performance; that the impact depends on whether countries did or did not face a financial crisis; and that the “quality” of financial sector reform matters.

Author : Gang Yi
Publisher : Westview Press
Page : 338 pages
File Size : 40,9 Mb
Release : 1994-09-15
Category : History
ISBN : UCSD:31822018782169

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Money, Banking, And Financial Markets In China by Gang Yi Pdf

"This book offers the first comprehensive study of the money, banking, and financial markets in China since the establishment of the central bank system in 1984. The author analyzes the impact of the profound institutional changes of the 1980s and the early 1990s and highlights the fundamental transformation of the role of money - from a passive accounting tool in the centrally planned system to an active and intrinsically important factor in determining the growth and stability of the present economy." "The theoretical and empirical analyses of the book are based on the newly established financial system and the most recent data available. The transitive nature of the financial sector during economic reform is especially emphasized. The author's central arguments are supported by in-depth analyses of every important aspect of the financial sector, including the function of the central bank and its relationship with specialized banks and other financial institutions, money supply and demand, monetization, price reforms and inflation, nonbank financial institutions, and new developments in the financial security markets. Extensive use is made of case studies and illustrative examples. A complete set of data from all empirical studies is provided to allow readers to examine the models and confirm the econometric results."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved

Author : Gregory F. Udell,Paul Wachtel
Publisher : Unknown
Page : 70 pages
File Size : 52,5 Mb
Release : 1995
Category : Banks and banking, Central
ISBN : UOM:35128001849155

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Financial System Design for Formerly Planned Economies by Gregory F. Udell,Paul Wachtel Pdf

Author : Paul Bowles,Gordon White
Publisher : Routledge
Page : 185 pages
File Size : 43,7 Mb
Release : 2019-07-11
Category : Political Science
ISBN : 9781000304459

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The Political Economy Of China's Financial Reforms by Paul Bowles,Gordon White Pdf

THIS PATHBREAKING Work analyzes the evolution of China's financial reforms since 1979. China's reformers have stressed the construction of a more diverse, flexible, and competitive financial system as a crucial element of China's economic reform program. The authors assess the theory and practice of financial reform in light of China's specific characteristics as a large, developing country that still claims to be pursuing the goal of establishing a new form of "socialist" market economy. The authors utilize two approaches. First, they place the overall design and trajectory of. financial reform since 1979 within a broad comparative framework of alternative strategies of financial reform and financial systems. Second, they use a political economy perspective to explore the complex interactions among the political and economic actors— individual, group, or institutional—that affect reform outcomes. Integrating these two approaches, the authors conclude by assessing future directions for feasible and desirable financial reform in China.

Author : Aditya Narain,Ms.Inci Ötker,Ceyla Pazarbasioglu
Publisher : International Monetary Fund
Page : 291 pages
File Size : 52,8 Mb
Release : 2012-04-11
Category : Business & Economics
ISBN : 9781475569360

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Building a More Resilient Financial Sector by Aditya Narain,Ms.Inci Ötker,Ceyla Pazarbasioglu Pdf

The IMF, with the Bank for International Settlements and the Financial Stability Board, has been at the forefront of discussions on reform of the global financial system to reduce the possibility of future crises, as well as to limit the consequences if they do occur. The policy choices are both urgent and challenging, and are complicated by the relationship between sovereign debt and risks to the banking sector. Building a More Resilient Financial Sector describes the key elements of the reform agenda, including tighter regulation and more effective supervision; greater transparency to strengthen market discipline and limit incentives for risk taking; coherent mechanisms for resolution of failed institutions; and effective safety nets to limit the impact on the financial system of institutions viewed as "too big to fail." Finally, the book takes a look ahead at how the financial system is likely to be shaped by the efforts of policymakers and the private sector response.

Author : Mr.Bernard Laurens,Mr.Hassanali Mehran,Mr.Marc Quintyn,Mr.Tom Nordman
Publisher : International Monetary Fund
Page : 108 pages
File Size : 51,6 Mb
Release : 1996-09-26
Category : Business & Economics
ISBN : 1557755620

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Monetary and Exchange System Reforms in China by Mr.Bernard Laurens,Mr.Hassanali Mehran,Mr.Marc Quintyn,Mr.Tom Nordman Pdf

In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.

Author : Federal Reserve Bank of Kansas City
Publisher : Unknown
Page : 232 pages
File Size : 54,7 Mb
Release : 1990
Category : Banks and banking, Central
ISBN : UOM:35128001356011

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Central Banking Issues in Emerging Market-oriented Economies by Federal Reserve Bank of Kansas City Pdf