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Financial sector liberalization can spur economic growth and development, but reforms to liberalize the financial sector can also entail risks if they are not properly designed and implemented. One of the central questions for countries reforming their financial systems is how to sequence the reforms so as to maximize the benefits of liberalization and contain its risks. Edited by R. Barry Johnston and V. Sundararajan of the IMF's Monetary and Exchange Affairs Department, this book attempts to answer this and related questions by drawing lessons from financial sector reforms in selected countries. In particular, the book surveys financial sector reforms in Indonesia, Thailand, and Korea between the mid-1980s and mid-1990s.
Financial sector liberalization can spur economic growth and development, but reforms to liberalize the financial sector can also entail risks if they are not p
A review of the experience of five developing countries in reforming their financial systems illustrates the benefits and risks, and provides lessons on the fac
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
The importance of the financial system in economic development has been frequently neglected by analysts and poorly understood by policymakers. Are there policy
This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy,