Introduction: The Two-Pronged Strategy of Financial Reform and
Privatization
An Overview of Developing Country Financial Systems
The Public/Private Debate
Understanding Financial Sector Liberalization
Understanding Privatization of Financial Institutions
Developing a Framework of Financial Reform and Privatization
Conclusion
Appendix A: Case Studies
Index
This book presents a unique approach to financial sector reform composed of financial sector diagnosis, policy and institutional targeting, macroeconomic reforms, bank regulation and supervision reform, and privatization.
NEAL S. ZANK is a consultant and Research Associate at the
Center for Global Management and Research at the George Washington
University. He is coauthor of Reforming Financial Systems: Policy
Change and Privatization (Greenwood, 1991) and Welfare System
Reform: Coordinating Federal, State, and Local Public Assistance
Programs (Greenwood, 1993), and he has written numerous articles on
job training, foreign aid, and international economic issues. Mr.
Zank was Associate Director of the National Commission for
Employment Policy (1990-1993) and a staff member for two
Presidential commissions and the U.S. Agency for International
Development.
JOHN A. MATHIESON is Director of the International Policy Center of
SRI International. He is the co-author of two books, The United
States and the Third World (1982) and Struggle Against Dependence:
Nontraditional Export Growth in Central America and the Caribbean
(with Kathleen D. Vickland, 1988).
FRANK T. NIEDER is Senior International Economist with the
International Policy Center of SRI International--Washington. He
has worked extensively on macroeconomic, finance, and trade and
investment promotion issues in developing countries.
KATHLEEN D. VICKLAND is Senior International Economist with the
International Policy Center of SRI International--Washington. In
addition to co-authoring Struggle Against Dependence, she has
authored several articles and papers on economic development
issues.
RONALD J. IVEY is a Senior Manager with Ernst and Young's
International Management Consulting Group. He has extensive
experience in privatization and private sector development in
developing countries.
?One of the most striking developments of the late 1980s was an
astonishing change in the dominant ideology of economic
development. The economic thinking as well as economic practice
undoubtedly moved away from centralized planning and control toward
decentralized economic liberalism. However, both previously
centralized economies and LDCs failed to achieve satisfactory
economic performance. Repressed financial systems of these
countries proved to be a primary constraint to successful
macroeconomic stabilization. This book offers approaches and
guidelines to privatize and/or liberalize the financial system of a
developing country. Starting with the premise that bank
privatization is a more delicate task than the privatization of the
rest of the economy, the authors propose a two-pronged strategy of
financial reform and privatization. The book describes the
operating components of financial markets, presents evidence
supporting the greater efficiency of the private banking sector,
and describes the many aspects of financial reform and
privatization strategies. Finally, six country case studies of
actual privatizations and policy reforms in the financial sector
are analyzed. References. Nontechnical and readable, this volume is
recommended for academic readers as well as
professionals.?-Choice
"One of the most striking developments of the late 1980s was an
astonishing change in the dominant ideology of economic
development. The economic thinking as well as economic practice
undoubtedly moved away from centralized planning and control toward
decentralized economic liberalism. However, both previously
centralized economies and LDCs failed to achieve satisfactory
economic performance. Repressed financial systems of these
countries proved to be a primary constraint to successful
macroeconomic stabilization. This book offers approaches and
guidelines to privatize and/or liberalize the financial system of a
developing country. Starting with the premise that bank
privatization is a more delicate task than the privatization of the
rest of the economy, the authors propose a two-pronged strategy of
financial reform and privatization. The book describes the
operating components of financial markets, presents evidence
supporting the greater efficiency of the private banking sector,
and describes the many aspects of financial reform and
privatization strategies. Finally, six country case studies of
actual privatizations and policy reforms in the financial sector
are analyzed. References. Nontechnical and readable, this volume is
recommended for academic readers as well as professionals."-Choice
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