Reforming Financial Systems - Historical Implications for Policy (Hardcover, New)

This volume summarizes the key lessons of financial history for emerging markets and developing economies today, including the rise and role of central banks, debates on how to make banking secure and sound, the relative efficiency of universal banking compared to the Anglo-American commercial banking model, and the role of savings banks, non-banks and securities markets in development. Two lessons that should be kept in mind in reforming financial systems are the importance of incentives and diversification. Robust financial systems require incentive systems that reward prudent risk-taking and encourage sound portfolio diversification. In addition, reputation has proved to be important: central bankers must demonstrate anew why they have earned a reputation for non-inflationary policies, and private intermediaries must similarly demonstrate again why they have earned a reputation for sound, as opposed to Ponzi, finance. Attempts to reform financial systems without due allowance for the time and effort to develop institutions, including reputation, are likely to prove short-lived.

General

Imprint:	Cambridge UniversityPress
Country of origin:	United Kingdom
Release date:	June 1997
First published:	1997
Editors:	Gerard Caprio Jr • Dimitri Vittas
Dimensions:	237 x 160 x 20mm (L x W x T)
Format:	Hardcover
Pages:	236
Edition:	New
ISBN-13:	978-0-521-58115-8
Categories:	Books > Business & Economics > Economics > General Books > Business & Economics > Finance & accounting > Finance > Banking Books > Money & Finance > Banking
LSN:	0-521-58115-X
Barcode:	9780521581158

Is the information for this product incomplete, wrong or inappropriate? Let us know about it.

Does this product have an incorrect or missing image? Send us a new image.

Is this product missing categories? Add more categories.

Review This Product

No reviews yet - be the first to create one!