Financial Reform: Theory and Experience - Softcover

Softcover

ISBN 10: 0521574242 ISBN 13: 9780521574242

Verlag: Cambridge University Press, 1996

Inhaltsangabe

This study is the first to look at the analytics of and experience with financial reform. It examines the relationship between the financial and real sectors, and its effect on the economy at large; the process of sequencing, including the timing of opening of the capital account; the impact of financial reforms on capital allocation efficiency.

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Reseña del editor

This book examines the analytical basis and practical experience of financial reforms in a number of primarily developing countries. 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 resource utilization cannot be underestimated in their importance. There are three key lessons that suggest the crucial nature of managing the process rather than adopting a laissez-faire approach. First, more successful reform must take account of information capital; second, initial conditions in balance sheets, human and information capital, and incentive systems are fundamental in determining how to go about reform; and third, that different sequences of reforms can be tolerated and, with certain preconditions, do well.

Contraportada

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.

Über diese Auflage

• Verlag: Cambridge University Press
• Erscheinungsdatum: 1996
• ISBN 10: 0521574242
• ISBN 13: 9780521574242
• Einband: Tapa blanda
• Anzahl der Seiten: 494
• Herausgeber: Caprio Jr Gerard, Atiyas Izak, Hanson James A.