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Financial Sector Reform And Banking Crises In The Baltic Countries
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Book Synopsis Financial Sector Reform and Banking Crises in the Baltic Countries by : International Monetary Fund
Download or read book Financial Sector Reform and Banking Crises in the Baltic Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 1996-12-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial sector reform in the Baltic countries is reviewed in light of the banking crises that emerged during the reform period. It is argued that the crises had their roots in the structural deficiencies specific to planned economies and the financial environment that developed before and after these countries regained their independence, thus rendering them largely inevitable. Because of the low level of financial intermediation, however, even the failure of large banks had limited systemic effects and a minor negative impact on output and incomes. The crises slowed down the financial reform process, but brought about a desired consolidation of the banking sector.
Book Synopsis Financial Sector Reform and Banking Crises in the Baltic Countries by : Marta de Castello Branco
Download or read book Financial Sector Reform and Banking Crises in the Baltic Countries written by Marta de Castello Branco and published by . This book was released on 1996 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Sector Reform and Banking Crises in the Baltic Countries by : Marta de Castello Branco
Download or read book Financial Sector Reform and Banking Crises in the Baltic Countries written by Marta de Castello Branco and published by . This book was released on 2006 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial sector reform in the Baltic countries is reviewed in light of the banking crises that emerged during the reform period. It is argued that the crises had their roots in the structural deficiencies specific to planned economies and the financial environment that developed before and after these countries regained their independence, thus rendering them largely inevitable. Because of the low level of financial intermediation, however, even the failure of large banks had limited systemic effects and a minor negative impact on output and incomes. The crises slowed down the financial reform process, but brought about a desired consolidation of the banking sector.
Book Synopsis The Baltics-- Banking Crises Observed by : Alexander Fleming
Download or read book The Baltics-- Banking Crises Observed written by Alexander Fleming and published by World Bank Publications. This book was released on 1996 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Capital Markets and Financial Intermediation in The Baltics by : Niamh Sheridan
Download or read book Capital Markets and Financial Intermediation in The Baltics written by Niamh Sheridan and published by International Monetary Fund. This book was released on 2004-01-14 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: In just over a decade after independence, the three Baltic countries, Estonia, Latvia, and Lithuania, have transformed themselves into fully functioning, small open-market economies that will be joining the European Union. Capital Markets and Financial Intermediation in The Baltics analyzes the financial systems of the three countries and discusses some of their unique characteristics. The study also examines current distortions of the systems and discusses whether or not the Baltics should move from an almost exclusively bank-based system to one that relies more on capital markets. In the process, it addresses issues of corporate governance and regional integration.
Book Synopsis The Baltic Countries by : Mr.Julian Berengaut
Download or read book The Baltic Countries written by Mr.Julian Berengaut and published by International Monetary Fund. This book was released on 1998-11-25 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are the three Baltic countries, Latvia, Estonia, and Lithuania, ready for accession to the European Union? Have their economies overcome the problems of transition? The answers to these questions and their implications for policy are provided in this collection of analyses. Rather than a country-by-country description, the volume provides a cross-country perspective of developments from 1994 through mid-1997. The seven sections of this paper discuss recent macroeconomic and structural policies, exchange rate regimes, fiscal issues, financial systems, private sector development, and accession to the European Union.
Book Synopsis Financial Markets in Central and Eastern Europe by : Morten Balling
Download or read book Financial Markets in Central and Eastern Europe written by Morten Balling and published by Routledge. This book was released on 2004-08-02 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book charts the process of financial market reform in Central and Eastern Europe. Topics discussed will include the implications of future EU membership, and the strategies pursued by the World Bank and International Monetary Fund.
Book Synopsis From a centrally planned monobank system to integrated financial markets? by : Thomas Werner Schmitt
Download or read book From a centrally planned monobank system to integrated financial markets? written by Thomas Werner Schmitt and published by GRIN Verlag. This book was released on 2008-04-04 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (undergraduate) from the year 2008 in the subject Economics - Monetary theory and policy, grade: 1,0, University of Applied Sciences Kaiserslautern (Betriebswirtschaft - Studiengang: Finanzdienstleistung), language: English, abstract: More than three years went past since the European Union has increased by eight new member states from Central and Eastern Europe. Among them, especially the Baltic States have reached recently high economic growth rates. In particular Latvia, which recorded the highest one (11.9% in 2006) in the whole European Union. Having regained their independence in 1991, after the breakdown of the Soviet Union, the three Baltic States might have developed after a more than 10- year continuing transformation- process of their economies, through self- confident countries with interesting investment opportunities for foreign investors. Since the independence of the three Baltic States was restored, all three countries were driven to replace the centrally planned, socialist system, forced by the Soviet Union through a structure based system on free market principles. A continuing order of political and economical events during the last two decades, and the contemporaneous developments in the financial markets, as well as the banking and insurance sector of the three Baltic states, upcoming changes in the course of onward globalisation, and the broadening unification in financial market regulation led to serious changes and demonstrated important milestones to liberalised market principles. The descriptive literature, which supported the present minithesis, describes only short periods of the developments in the Baltic financial markets. Moreover, you will not find a kind of evaluation about all three Baltic States in comparison to each other over such a long time period. There are no current statements, which conclude this whole development- period among the three Baltic states and there is no clear assessment whether the Baltic states` financial markets can be considered as integrated or not. Therefore, this minithesis serves as an attempt to answer this main question.
Book Synopsis The Latvian Banking Crisis by : Alex Fleming
Download or read book The Latvian Banking Crisis written by Alex Fleming and published by . This book was released on 2016 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lessons from Latvia's banking crisis can be applied in other transition economies.In the spring of 1995, Latvia experienced the largest banking crisis in the former Soviet Union to date, involving the loss of about 40 percent of the banking system's assets and liabilities. Fleming and Talley outline the Latvian authorities' strategy for developing the banking system and identify how and why it unraveled. They discuss the World Bank's role and the lessons to be learned from the crisis, including the following:Banking systems are exposed to stress in several major ways. Enterprises - the main borrowers - become subject to hard budget constraints (are cut off from government funds) and are privatized. Inflation declines so enterprises can't rely on rapidly increasing revenues to service bank debts. Economic reform tends to produce banking systems that are mainly privately owned - making them vulnerable to withdrawals, as the public does not assume that failing banks will be bailed out.The government must protect against this vulnerability by establishing a proper legal framework for banking, developing effective bank supervision and regulation, and implementing solid accounting, disclosure, and auditing standards. It must also develop effective ways to handle problem banks and to close insolvent banks promptly.For banks in the state sector to be a source of strength to the banking system, they must have strong effective management and be relatively free from political influence.Outlier banks - those expanding assets very quickly or offering particularly high deposit rates - should be subject to intense supervision.Four things must be done to prevent fraud, incompetent management, and excessive risk-taking: Carefully screen those who want to get into banking; subject all banks to thorough, frequent onsite examinations and assign the best examiners to the largest banks; require annual audits of all banks by reputable auditing firms required to report significant irregularities to authorities; and act decisively when fraud or bank difficulties are detected or suspected.This paper - a product of the Enterprise and Financial Sector Development Division, Europe and Central Asia, Country Department IV - is part of a larger effort in the region to distill the lessons of the first five years of transition.
Book Synopsis Global Banking Crises and Emerging Markets by : Josef C. Brada
Download or read book Global Banking Crises and Emerging Markets written by Josef C. Brada and published by Springer. This book was released on 2015-11-23 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely reader of seminal papers published by Palgrave on behalf of Comparative Economic Studies, examines how and why foreign banks enter emerging markets and the positive benefits they bring to the host countries.
Book Synopsis Latvian Banking Crisis by : Alex Fleming
Download or read book Latvian Banking Crisis written by Alex Fleming and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: April 1996 Lessons from Latvia's banking crisis can be applied in other transition economies. In the spring of 1995, Latvia experienced the largest banking crisis in the former Soviet Union to date, involving the loss of about 40 percent of the banking system's assets and liabilities. Fleming and Talley outline the Latvian authorities' strategy for developing the banking system and identify how and why it unraveled. They discuss the World Bank's role and the lessons to be learned from the crisis, including the following: * Banking systems are exposed to stress in several major ways. Enterprises -- the main borrowers -- become subject to hard budget constraints (are cut off from government funds) and are privatized. Inflation declines so enterprises can't rely on rapidly increasing revenues to service bank debts. Economic reform tends to produce banking systems that are mainly privately owned -- making them vulnerable to withdrawals, as the public does not assume that failing banks will be bailed out. * The government must protect against this vulnerability by establishing a proper legal framework for banking, developing effective bank supervision and regulation, and implementing solid accounting, disclosure, and auditing standards. It must also develop effective ways to handle problem banks and to close insolvent banks promptly. * For banks in the state sector to be a source of strength to the banking system, they must have strong effective management and be relatively free from political influence. * Outlier banks -- those expanding assets very quickly or offering particularly high deposit rates -- should be subject to intense supervision. * Four things must be done to prevent fraud, incompetent management, and excessive risk-taking: carefully screen those who want to get into banking; subject all banks to thorough, frequent onsite examinations and assign the best examiners to the largest banks; require annual audits of all banks by reputable auditing firms required to report significant irregularities to authorities; and act decisively when fraud or bank difficulties are detected or suspected. This paper -- a product of the Enterprise and Financial Sector Development Division, Europe and Central Asia, Country Department IV -- is part of a larger effort in the region to distill the lessons of the first five years of transition.
Book Synopsis Republic of Lithuania by : International Monetary Fund
Download or read book Republic of Lithuania written by International Monetary Fund and published by International Monetary Fund. This book was released on 1998-10-05 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper and Statistical Appendix analyzes four issues relevant to the achievement of high-quality economic growth in Lithuania, namely the composition of government expenditure, financial sector development, foreign direct investment, and entry and exit of commercial enterprises. The paper reviews the composition of public expenditure and draws some comparison with other countries in the region. A discussion of the reforms to date in the area of public expenditure management is presented. The paper also highlights the possible pressures for additional expenditure in a number of areas.
Book Synopsis Financial Sector Reform and Central Banking in Centrally Planned Economies by : Vasudevan Sundararajan
Download or read book Financial Sector Reform and Central Banking in Centrally Planned Economies written by Vasudevan Sundararajan and published by International Monetary Fund. This book was released on 1990-12 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews key areas of central banking reform in a sample of centrally planned economies undergoing transition to market-based systems. The discussion draws mainly on the experiences of four countries, Hungary, Poland, Czechoslovakia, and China. Significant efforts have been made, or are under consideration, in all countries to develop a more efficient framework for monetary management, and to provide greater autonomy to central banks in macro stabilization policies. These objectives call for a coordinated approach to strengthening a wide range of central banking functions simultaneously, and require that a core mass of supporting financial sector reforms be implemented to ensure effective transformation and stabilization with minimal transitional costs.
Book Synopsis Managing Systemic Banking Crises by : Ms.Marina Moretti
Download or read book Managing Systemic Banking Crises written by Ms.Marina Moretti and published by International Monetary Fund. This book was released on 2020-02-11 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper updates the IMF’s work on general principles, strategies, and techniques from an operational perspective in preparing for and managing systemic banking crises in light of the experiences and challenges faced during and since the global financial crisis. It summarizes IMF advice concerning these areas from staff of the IMF Monetary and Capital Markets Department (MCM), drawing on Executive Board Papers, IMF staff publications, and country documents (including program documents and technical assistance reports). Unless stated otherwise, the guidance is generally applicable across the IMF membership.
Book Synopsis The Japanese Banking Crisis of the 1990's by : Mr.Akihiro Kanaya
Download or read book The Japanese Banking Crisis of the 1990's written by Mr.Akihiro Kanaya and published by International Monetary Fund. This book was released on 2000-01-01 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: For a large part of the past decade, Japan has witnessed a steady deterioration in the health of its banking system. This paper examines what went wrong and why it has taken so long for the system to recover. While the paper traces the roots of the crisis to accelerated deregulation and deepening of capital markets without an appropriate adjustment in the regulatory framework, it identifies weak corporate governance and regulatory forbearance as the two factors behind what might have been an unnecessary prolongation of the distress of the financial system.
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 The Nordic Banking Crisis by : Mr.Burkhard Drees
Download or read book The Nordic Banking Crisis written by Mr.Burkhard Drees and published by International Monetary Fund. This book was released on 1998-04-20 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the banking crises in Finland, Norway and Sweden, which took place in the early 1990s, and draws some policy conclusions from their experiences. One key conclusion is that factors in addition to business cycle effects explain the Nordic countries financial problems. Although the timing of the deregulation in all three countries coincided with a strongly expansionary macroeconomic momentum, the main reasons for the banking crises were the delayed policy responses, the structural characteristics of the financial systems, and the banks inadequate internal risk-management controls.
