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Financial Markets Liberalisation And The Role Of Banks
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Book Synopsis Financial Markets Liberalisation and the Role of Banks by : Vittorio Conti
Download or read book Financial Markets Liberalisation and the Role of Banks written by Vittorio Conti and published by Cambridge University Press. This book was released on 1993-02-04 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following years of control and regulation, there has been a massive trend towards the liberalisation of financial markets. This volume provides an analysis of this process and considers likely future developments. It is divided into three parts: the first covers the behaviour of households and firms; the second includes papers on stock, bond and currency markets; and the third part analyses the behaviour and performance of financial intermediaries, particularly banks. The topics examined range from the demand for personal and corporate credit and the allocation of savers' wealth, to innovations in securities and services traded in financial markets, and their regulation. The essays represent a blend of both theoretical and empirical work, the latter focusing in particular on Europe and the recent integration of financial markets on the continent. Discussions of the essays are provided by some of the world's leading financial economists.
Book Synopsis Financial Liberalisation by : Philip Arestis
Download or read book Financial Liberalisation written by Philip Arestis and published by Springer. This book was released on 2016-11-26 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the thirteenth volume in the International Papers in Political Economy (IPPE) series which explores the latest developments in political economy. A collection of eight papers, the book concentrates on the deregulation of domestic financial markets and discusses financial liberalisation in terms of its past performance, current progress and future developments. The chapters have been written by expert contributors in the field and focus on topics such as past records of financial liberalisation, future policies of regulation, and current account imbalances. Other papers examine capital account regulations in developing and emerging countries, and capital controls in the Eurozone after the 2007 financial crisis. This collection of papers invites readers to consider the impact of financial liberalisation both during and after the global economic crisis. Scholars and students with an interest in political economy, financialisation, and economic performance will find this collection stimulating and informative.
Book Synopsis Financial Liberalization, Credit Market Imperfections and Financial System Stability by : Tim Niepel
Download or read book Financial Liberalization, Credit Market Imperfections and Financial System Stability written by Tim Niepel and published by GRIN Verlag. This book was released on 2015-06-03 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2013 in the subject Business economics - Investment and Finance, grade: 1,5, Utrecht University (Utrecht School of Economics), language: English, abstract: Financial liberalization stimulates competition and thereby supposedly increases the efficiency of investment. A simple credit market model is developed to show that such efficiency improvements may be disturbed by competition-induced incentives for banks to accept higher default rates, which result in instability of the financial system. Thereby we offer a complementary explanation to the relationship between competition and stability in financial markets. Consequently we argue that government intervention, in the form of intelligent regulation, is necessary to ensure the development of sustainable financial markets.
Book Synopsis Financial Liberalization and Financial Fragility by : Asli Demirgüç-Kunt
Download or read book Financial Liberalization and Financial Fragility written by Asli Demirgüç-Kunt and published by World Bank Publications. This book was released on 1998-06-01 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: A study of 53 countries during 1980-95 finds that financial liberalization increases the probability of a banking crisis, but less so where the institutional environment is strong. In particular, respect for the rule of law, a low level of corruption, and good contract enforcement are relevant institutional characteristics. the data also show that, after liberalization, financially repressed countries tend to have improved financial development even if they experience a banking crisis. This is not true for financially restrained countries. This paper’s results support a cautious approach to financial liberalization where institutions are weak, even if macroeconomic stabilization has been achieved.
Book Synopsis Interest Rate Liberalization and Money Market Development by : Mr.Bernard Laurens
Download or read book Interest Rate Liberalization and Money Market Development written by Mr.Bernard Laurens and published by International Monetary Fund. This book was released on 1996-12-30 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book by Hassanali Mehran, Bernard Laurens, and Marc Quintyn brings together the papers presented at a seminar held in Beijing, China, in August 1995 and sponsored jointly by the IMF's Monetary and Exchange Affairs Department and the Poeple's Bank of China. The papers were written by central bankers from China, Italy, Korea, Malaysia, Thailand, and Turkey. The Chinese authorities were specifically interested in learning more about the Italian and Turkish models of interbank markets and in the experiences of neighboring Asian countries with interest rate liberalization. The U.S. experience was also presented, and the introduction to the book draws policy lessons from the experiences presented at the seminar.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :9781557757791 Total Pages :412 pages Book Rating :4.7/5 (577 download)
Book Synopsis Sequencing Financial Sector Reforms by : International Monetary Fund
Download or read book Sequencing Financial Sector Reforms written by International Monetary Fund and published by International Monetary Fund. This book was released on 1991-03-15 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Experiences with Financial Liberalization by : K. L. Gupta
Download or read book Experiences with Financial Liberalization written by K. L. Gupta and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Experiences with Financial Liberalization provides a broad spectrum of policy experiences relating to financial liberalization around the globe since the 1960s. There is a sizable body of theoretical and aggregative empirical literature in this area, but there is little work documenting and analyzing the experiences of individual countries and/or sets of countries. This book is divided into four parts by geographical region - Africa, Asia and Latin America, Central and Eastern Europe, and the Middle East. Aggregative econometric studies cannot substitute for country-wide studies in allowing the researcher to draw lessons for the future, and this volume adds to this relatively small body of literature.
Book Synopsis States, Banks, And Markets by : Nancy Auerbach
Download or read book States, Banks, And Markets written by Nancy Auerbach and published by Routledge. This book was released on 2018-03-05 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: In States, Banks, and Markets Nancy Neiman Auerbach approaches financial policymaking as a strategic interaction between two sets of domestic actors: private financiers and state officials. Through a comparative lens, Auerbach explains why the transition to financial liberalization was accompanied by economic crisis and declining growth rates in countries such as Mexico, while the same policy was associated with higher growth rates and a relatively more equitable distribution of income in other countries such as South Korea and Hong Kong.Auerbach first sets up a theoretical foundation that underlies the comparative case studies, and she then follows with a detailed account of Mexico's transition to financial liberalization in the 1980s. The author systematically compares various countries' cases--Germany, South Korea, Hong Kong, Turkey--with Mexico as a means of underscoring the central and recurring themes illustrated by financial market politics in newly industrializing countries. The author then returns to her analysis of Mexico with an examination of the Mexican peso crisis in light of the recent financial crises in Asia. Auerbach not only demonstrates how the timing and duration of the liberalization process is the element differentiating the performance of newly industrializing countries (rather than financial liberalization itself), for she takes the analysis a step further by explaining the economic and political preconditions that put a country in the position to choose a reasonable reform path.
Book Synopsis Financial Liberalization by : P. Arestis
Download or read book Financial Liberalization written by P. Arestis and published by Springer. This book was released on 2005-09-08 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial liberalization thesis emerged in the 1970s and has been of considerable importance ever since, not merely in terms of its theoretical influence but, perhaps more importantly, in terms of its impact on policy makers and policy debates. Although it has encountered increasing scepticism over the years, it nevertheless had a relatively early impact on development policy, which still continues unabated, through the work of the IMF and the World Bank. The latter two institutions, perhaps in their traditional role as promoters of what were claimed to be free market conditions, were keen to encourage financial liberalization policies as part of more general reforms or stabilization programmes. This book explores what we have learned from the vast experience of the theoretical and policy aspects of the financial liberalization.
Book Synopsis Banking Systems in the Crisis by : Suzanne J. Konzelmann
Download or read book Banking Systems in the Crisis written by Suzanne J. Konzelmann and published by Routledge. This book was released on 2012-11-27 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2008 financial crisis has severely shaken confidence in liberal economic theory and policy. However, the sharply divergent experiences of the six Anglo-Saxon ‘liberal market economies’ (LMEs) suggest that the reality is not so simple. This book traces the evolution of liberal capitalism, from its rebirth amidst the challenges of the 1970s to its role in the genesis of the 2008 crisis – and debates the assumptions underpinning the liberal capitalist paradigm. Close examination reveals variety within liberal capitalism. Not only was there the familiar, "hands off" libertarian approach adopted by the US, UK and Ireland, but more bounded, better regulated and apparently more stable varieties of economic liberalism also emerged, through the more pragmatic approach taken by Canada, Australia and New Zealand. The evidence is compelling. Whereas the American, British and Irish financial systems were severely damaged by the crisis, those of Canada, Australia and New Zealand proved more robust. This volume explores the degree to which these divergent experiences were a result of better and more intensive supervision, differences in business or political culture, broader commitment to social norms, and the pace of liberalisation. Detailed comparative case studies reveal fundamental differences in the economic and political environments in which economic liberalisation took place, in approaches to finance and in the degree to which it was seen to be an engine for growth. The book concludes that this had a major influence on the evolving economic and financial systems, and consequently, their relative resilience when confronted with the challenges of the 2008 crisis.
Book Synopsis Financial Markets and the Banking Sector by : Elisabeth Paulet
Download or read book Financial Markets and the Banking Sector written by Elisabeth Paulet and published by Routledge. This book was released on 2015-09-30 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on both theoretical and empirical approaches, the essays in this volume emphasise the role of ethics in a globalized economy.
Book Synopsis Trade Liberalization and the Politics of Financial Development by : Matias Braun
Download or read book Trade Liberalization and the Politics of Financial Development written by Matias Braun and published by World Bank Publications. This book was released on 2005 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A well developed financial system enhances competition in the industrial sector by allowing easier entry. The impact varies across industries, however. For some, small changes in financial development quickly induce entry and dissipate incumbents' rents, generating strong incentives to oppose improvement of the financial system. In other sectors incumbents may even benefit from increased availability of external funds. The relative strength of promoters and opponents determines the political equilibrium level of financial system development. This may be perturbed by the effect of trade liberalization in the strength of each group. Using a sample of 41 trade liberalizers Braun and Raddatz conduct an event study and show that the change in the strength of promoters vis--̉vis opponents is a very good predictor of subsequent financial development. The result is not driven by changes in demand for external funds, or by the success of the trade policy. The relationship is mediated by policy reforms, the kind that induces competition in the financial sector, in particular. Real effects follow not so much from capital deepening but mainly through improved allocation. The effect is stronger in countries with high levels of governance, suggesting that incumbents resort to this costly but more subtle way of restricting entry where it is difficult to obtain more blatant forms of anti-competitive measures from politicians. This paper--a product of the Investment and Growth Team, Development Research Group--is part of a larger effort in the group to understand the relation between finance and the macroeconomy"--World Bank web site.
Book Synopsis Financial Liberalization in Developing Countries by : Abdullahi Dahir Ahmed
Download or read book Financial Liberalization in Developing Countries written by Abdullahi Dahir Ahmed and published by Springer Science & Business Media. This book was released on 2009-10-03 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent global ?nancial crisis has made ?nancial liberalization a topic of great academic and practical interest. This book makes new contributions to the topic by combining fact-?nding, empirical analysis, and theory to examine the relationship between ?nancial liberalization and economic growth. Among its contributions, the book provides detailed country assessments on the effects of ?nancial liberalization, including its striking impact on the banking sector. Although an important goal of ?nancial deregulation has been to help ?nancial institutions better perform their role in intermediating resources, the book models how deregulation may fail to achieve that goal in countries with underdeveloped ?nancial markets and institutions. For that purpose, the book draws on actual experience in Kenya, Malawi, Botswana, and Thailand. This book should constitute important reading for students of ?nancial economics, researchers and general academics, ?nancial practitioners, policymakers, and teachers of economics. North Carolina, USA Steven L. Schwarcz December 2008 Stanley A. Star Professor of Law & Business, Duke University Founding Director, Duke Global Capital Markets Center Durham vii Abstract and Preface The latest global ?nancial and economic crisis of 2008 shows the need to - examine the desirability of ?nancial liberalization and the basis for the view that ?nancial deregulation by itself cannot be considered as a substitute for better economic management. The literature on ?nancial liberalization has identi?ed various mechanisms through which removing controls on interest rates may impact economic growth.
Book Synopsis Financial Liberalization and Economic Performance in Emerging Countries by : P. Arestis
Download or read book Financial Liberalization and Economic Performance in Emerging Countries written by P. Arestis and published by Springer. This book was released on 2008-07-24 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the relationship between financial liberalization, financial deepening and economic performance from both a theoretical and a policy perspective, comparing several 'big' emerging countries: Argentina, Brazil, China, India, Russia, South Africa and India, amongst others.
Book Synopsis Financial Liberalization in Developing Countries by : Trevor M. Sikorski
Download or read book Financial Liberalization in Developing Countries written by Trevor M. Sikorski and published by Edward Elgar Publishing. This book was released on 1996 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using case studies of South Korea, Indonesia, Malaysia, and the Philippines, Sikorski (economics, U. Strathclyde) analyzes monetary and financial policy, and shows how full liberation from government controls makes the money creation process largely unsustainable in developing economies. Annotation copyright by Book News, Inc., Portland, OR
Book Synopsis Financial Liberalization and Investment by : Kanhaya Gupta
Download or read book Financial Liberalization and Investment written by Kanhaya Gupta and published by Routledge. This book was released on 1996-03-14 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: For two decades thinking on economic policy has been dominated by the idea of economic liberalization in general and financial deregulation in particular. This field has become both extensive and controversial, yet there is no single book which treats financial deregulation in a complete and coherent manner. This book rectifies the shortfall by foc
Book Synopsis The Role of London as an Offshore Financial Centre in the Liberalisation of International Finance Since the Second World War by : Jan Fichtner
Download or read book The Role of London as an Offshore Financial Centre in the Liberalisation of International Finance Since the Second World War written by Jan Fichtner and published by GRIN Verlag. This book was released on 2007-10 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2004 in the subject Politics - International Politics - Topic: Globalization, Political Economics, grade: 1,7 (A-), University of Sussex, 0 entries in the bibliography, language: English, abstract: This paper deals with the question whether the City of London acted as an offshore financial centre since the Second World War. This in turn is linked to the specific role London played in the liberalisation and deregulation of international finance which took place at an increasing pace since the 1970s. Special attention is paid to the rise of the so-called euromarkets and why this development was tolerated by the Bank of England.
