Financial Sector Reforms in Eight Countries : Issues and Results

Author/Editor:

Vicente Galbis

Publication Date:

December 1, 1995

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper examines financial sector reforms in eight developing countries--Argentina, Bulgaria, Ecuador, Egypt, India, Kenya, Tanzania, and Uganda--and derives general lessons from their experience. The paper reviews the initial situation of these countries; describes the financial sector (and related) reforms carried out, including sequencing issues, and points out the unresolved questions; and examines the effects of reforms on monetary control and financial development, investment and growth and the efficiency of financial intermediation. The main recommendations are the need to persevere with macroeconomic stabilization through indirect monetary policy instruments, and the need to substantially strengthen prudential regulation and supervision and restructure and privatize or liquidate ailing financial institutions.

Series:

Working Paper No. 95/141

Subject:

English

Publication Date:

December 1, 1995

ISBN/ISSN:

9781451928259/1018-5941

Stock No:

WPIEA1411995

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

60

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