Financial Liberalization : How Far, How Fast? by Gerard Caprio, Patrick Honohan, Joseph E. Stiglitz

By Gerard Caprio, Patrick Honohan, Joseph E. Stiglitz

This quantity addresses the most topical and debatable matters in banking and monetary coverage. It explains why governments have felt the necessity to liberalize banking and finance, for instance, by way of privatizing banks and permitting rates of interest to be set via the marketplace. It describes how the implications haven't consistently been tender, and considers how monetary liberalizations may be approached larger sooner or later. as well as a transparent and concise presentation of present theories and worldwide adventure, there are six conscientiously selected kingdom case experiences.

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Financial Liberalization : How Far, How Fast?

This quantity addresses the most topical and debatable matters in banking and fiscal coverage. It explains why governments have felt the necessity to liberalize banking and finance, for instance, by way of privatizing banks and permitting rates of interest to be set via the industry. It describes how the results haven't continually been soft, and considers how monetary liberalizations should be approached larger sooner or later.

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This is true both during interest spikes associated with the crises of 1988 and 1994, and on average. The pattern thus prevailed both when banks were nationalized and when they were in private ownership. Indeed, bank spreads were much higher on average during the years of nationalization, partly reflecting the banks’ need to crosssubsidize directed credit programs, though it has to be borne in mind that these were also by far the years of highest inflation. A curious finding is that the use of commissions and charges associated with lending was correlated with interest rate spreads, and to a greater extent during nationalization.

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Journal of Development Economics 21(2):283–318. P. K. Rose. 1995. ” Journal of Monetary Economics 36(1):3–37. Fry, M. 1995. Money, Interest, and Banking in Economic Development. Baltimore, MD: The Johns Hopkins University Press. 30 Caprio, Hanson, and Honohan Gelb, A. and P. Honohan. 1991. ” In V. J. Chhibber, M. Dailami, and J. ), Restructuring Economies in Distress, pp. 76–100. London: Oxford University Press. Gertler, M. and S. Gilchrist. 1993. ” European Economic Review 37:623–31. S. 1859.

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