Sequencing of Financial Sector Reforms: A Review
September 1, 1994
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Summary
This paper provides a review of the literature on both analytical issues and country experiences on the sequencing of financial sector reforms. It discusses the choice between big-bang and gradual reforms, the relationship of financial sector reforms to other economic reforms, the internal sequencing of financial sector measures and the influence of initial conditions. It is concluded that a pragmatic approach to the sequencing issue is necessary as there are only a few general principles valid for all countries.
Subject: Economic sectors, Financial crises, Financial regulation and supervision, Financial sector, Financial sector reform, Monetary policy, Monetary policy instruments
Keywords: capital liberalization, financial institution, financial liberalization, Financial sector, Financial sector reform, interest rate, interest rate liberalization, liberalization, liberalization measure, liberalization process, market, market determination, market distortion, market equilibrium, Monetary policy instruments, treasury bill market, WP
Pages:
32
Volume:
1994
DOI:
Issue:
101
Series:
Working Paper No. 1994/101
Stock No:
WPIEA1011994
ISBN:
9781451852462
ISSN:
1018-5941
