## Public Financial Institutions in Developed Countries—Organization and Oversight

_IMF Working Papers, September 1, 2007_

## Source details

**Canonical URL:** [Public Financial Institutions in Developed Countries—Organization and Oversight](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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## Bibliographic details
- Authors: Lev Ratnovski, Aditya Narain
- Published: September 1, 2007
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451867916.001

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### Summary and main findings
- 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:
  - A more nuanced approach may be required in developing countries, accounting for the disparity of institutional environment, regulatory capacity, and government accountability and effectiveness.
- 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.

### Policy implications and recommendations
- 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 areas and keywords
- 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

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## Content in this bundle

- **_wp07227 - Introduction: Access to Finance and Public Policy**
  - [_wp07227 - Introduction: Access to Finance and Public Policy (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2007/_wp07227.pdf.md){rel="alternate" type="text/markdown"}
  - [_wp07227 - Introduction: Access to Finance and Public Policy (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2007/_wp07227.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/wp/issues/2016/12/31/public-financial-institutions-in-developed-countries-organization-and-oversight-21213_