Gerard CaprioCambridge University Press, 8/21/2008EAN 9780521030991, ISBN10: 0521030994Paperback, 320 pages, 22.9 x 15.2 x 2 cmLanguage: EnglishThe goal of this volume is to bring a more broad-based empirical experience than has been customary to the theoretical debate on how financial systems should be managed. This is achieved not only with cross-country economic studies, but also with an account of carefully chosen and widely contrasting country cases, drawn from Europe, Latin America, Africa, East and South Asia and the former Soviet Union. The widespread financial crises of recent years have all too dramatically illustrated the shortcomings of financial policy under liberalization. The complexity of the issues mocks any idea that a standard liberalization template will be universally effective. The evidence here described confirms that policy recommendations need to take careful account of country conditions. The volume is the outcome of a research project sponsored by the World Bank's Development Economics Research Group.List of contributorsPrefacePart I. Analytics1. Introduction and overviewthe case for liberalization and some drawbacks Gerald Caprio, James A. Hanson and Patrick Honohan2. Robust financial restraint Patrick Honohan and Joeseph E. StiglitzPart II. Cross-Country Evidence3. How interest rates changed under liberalizationa statistical review Patrick Honohan4. Financial liberalization and financial fragility Asli Demirgüç-Kunt and Enrica DetragiachePart III. Liberalization Experience from Contrasting Starting Points5. Financial restraints and liberalization in postwar Europe Charles Wyplosz6. The role of poorly phased liberalization in Korea's financial crisis Yoon Je Cho7. Interest rate spreads in Mexico during liberalization Fernando Montes-Negret and Luis Landa8. The financial sector in transitiontales of success and failure Fabrizio Coricelli9. Indonesia and Indiacontrasting approaches to repression and liberalization James A. Hanson10. Reforming finance in a low income countryUganda Irfan Aleem and Louis KasekandeIndex.
