{
  "title": "Public Financial Institutions in Developed Countries—Organization and Oversight",
  "publication": "IMF Working Papers, September 1, 2007",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/public-financial-institutions-in-developed-countries-organization-and-oversight-21213",
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  "summary": "While public financial institutions (such as public development banks) are commonly associated with developing countries, in fact they are prevalent in the developed world as well.",
  "sections": [
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      "heading": "Summary and main findings",
      "content": "- Public financial institutions (such as public development banks) are prevalent in the developed world as well as in developing countries.\n- The study examines a sample of public financial institutions in industrialized countries and identifies dominant trends in their organization and oversight.\n- Practices in developed countries can be a useful reference point for developing countries, but:\n  - A more nuanced approach may be required in developing countries, accounting for the disparity of institutional environment, regulatory capacity, and government accountability and effectiveness.\n- The authors conclude that further investment in the accumulation of evidence and formulation of best practices in the organization and oversight of public financial institutions is warranted and necessary.\n- Acknowledgement: The paper was prepared while Mr. Ratnovski was working in the Financial Supervision and Regulation Division during January-April 2006. The authors are grateful to Jonathan Fiechter, David Marston, and participants of an MCM seminar in April 2006 for their helpful comments."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Use practices in developed countries as reference points, but tailor organizational and oversight frameworks to local institutional environments.\n- Strengthen regulatory capacity where disparities exist between developed and developing country contexts.\n- Enhance government accountability and effectiveness to support appropriate oversight of public financial institutions.\n- Invest in building the evidence base and developing best practices for organization and oversight of public financial institutions."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subject: Credit, Financial instruments, Financial regulation and supervision, Financial services, Housing\n- Keywords: bankruptcy procedure, financial market, interest rate, ownership structure, private bank, public financial institutions, WP\n\n---\n\n Content in this bundle\n\n- wp07227 - Introduction: Access to Finance and Public Policy\n  - wp07227 - Introduction: Access to Finance and Public Policy (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp07227 - Introduction: Access to Finance and Public Policy (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/public-financial-institutions-in-developed-countries-organization-and-oversight-21213"
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    "Authors: Lev Ratnovski, Aditya Narain",
    "Published: September 1, 2007",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451867916.001",
    "Public financial institutions (such as public development banks) are prevalent in the developed world as well as in developing countries.",
    "The study examines a sample of public financial institutions in industrialized countries and identifies dominant trends in their organization and oversight.",
    "Practices in developed countries can be a useful reference point for developing countries, but:",
    "The authors conclude that further investment in the accumulation of evidence and formulation of best practices in the organization and oversight of public financial institutions is warranted and necessary.",
    "Acknowledgement: The paper was prepared while Mr. Ratnovski was working in the Financial Supervision and Regulation Division during January-April 2006. The authors are grateful to Jonathan Fiechter, David Marston, and participants of an MCM seminar in April 2006 for their helpful comments.",
    "Use practices in developed countries as reference points, but tailor organizational and oversight frameworks to local institutional environments.",
    "Strengthen regulatory capacity where disparities exist between developed and developing country contexts.",
    "Enhance government accountability and effectiveness to support appropriate oversight of public financial institutions.",
    "Invest in building the evidence base and developing best practices for organization and oversight of public financial institutions.",
    "Subject: Credit, Financial instruments, Financial regulation and supervision, Financial services, Housing",
    "Keywords: bankruptcy procedure, financial market, interest rate, ownership structure, private bank, public financial institutions, WP",
    "**_wp07227 - Introduction: Access to Finance and Public Policy**"
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