{
  "title": "Financial Development in Emerging Europe: The Unfinished Agenda",
  "publication": "IMF Working Papers, November 12, 2007",
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  "summary": "This paper assesses the status of financial development in Emerging Europe, analyzes the factors that have shaped it, and discusses policy priorities. Financial development has progressed to varying degrees across the region.",
  "sections": [
    {
      "heading": "Summary assessment of financial development",
      "content": "- This paper assesses the status of financial development in Emerging Europe, analyzes the factors that have shaped it, and discusses policy priorities.\n- Financial development has progressed to varying degrees across the region.\n- Macroeconomic stability and institutional quality have been important factors shaping development.\n- The EU integration process is likely to propel further reforms and shape financial development in EU members.\n- In non-EU emerging economies the focus should be on maintaining macroeconomic stability and strengthening law enforceability."
    },
    {
      "heading": "Key findings and factors",
      "content": "- Progress in financial development is heterogeneous across Emerging Europe.\n- Important shaping factors identified:\n  - Macroeconomic stability.\n  - Institutional quality, including law enforceability.\n  - EU integration dynamics for member countries."
    },
    {
      "heading": "Policy priorities and recommendations",
      "content": "- For EU members:\n  - Leverage the EU integration process to propel further reforms shaping financial development.\n- For non-EU emerging economies:\n  - Maintain macroeconomic stability.\n  - Strengthen enforceability of the law.\n- Cross-cutting institutional and market-building recommendations:\n  - Create a well-functioning government securities market.\n  - Reinforce corporate governance.\n  - Strengthen creditor rights protection.\n  - Promote the emergence of institutional investors."
    },
    {
      "heading": "Related platform notes",
      "content": "- The IMF eLibrary offers over 25,000 IMF publications in multiple formats.\n\nIMF Working Paper: Financial Development in Emerging Europe: The Unfinished Agenda (Working Paper No. 2007/245) by Edda Zoli.\n\n---\n\n Content in this bundle\n\n- Wp07245\n  - Wp07245 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Wp07245 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/financial-development-in-emerging-europe-the-unfinished-agenda-21410"
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    "Authors: Edda Zoli",
    "Published: November 12, 2007",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451868081.001",
    "This paper assesses the status of financial development in Emerging Europe, analyzes the factors that have shaped it, and discusses policy priorities.",
    "Financial development has progressed to varying degrees across the region.",
    "Macroeconomic stability and institutional quality have been important factors shaping development.",
    "The EU integration process is likely to propel further reforms and shape financial development in EU members.",
    "In non-EU emerging economies the focus should be on maintaining macroeconomic stability and strengthening law enforceability.",
    "Progress in financial development is heterogeneous across Emerging Europe.",
    "Important shaping factors identified:",
    "For EU members:",
    "For non-EU emerging economies:",
    "Cross-cutting institutional and market-building recommendations:",
    "The IMF eLibrary offers over 25,000 IMF publications in multiple formats.",
    "**Wp07245**"
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