Financial Liberalization
Financial Liberalization
How Far, How Fast?
Gerard Caprio, The World Bank
Patrick Honohan, The World Bank
Joseph E. Stiglitz, Columbia University, New York
Patrick Honohan, The World Bank
Joseph E. Stiglitz, Columbia University, New York
November 2006
Available
Paperback
9780521030991
This volume addresses one of the most topical and controversial issues in banking and financial policy. It explains why governments have felt the need to liberalize banking and finance, for example, by privatizing banks and allowing interest rates to be set by the market. It describes how the consequences have not always been smooth, and considers how financial liberalizations could be approached better in the future. In addition to a clear and concise presentation of current theories and global experience, there are six carefully chosen country case studies.
- Highly controversial assessment of how far and how fast to pursue financial liberalization after the E. Asian crisis
- Coeditor Joseph Stiglitz is one of the world's leading economists, former head of Clinton economics team and senior VP of the World Bank
- Appraises features of 'gradualism' and 'shock therapy' in getting financial systems stable and supportive of growth
Product details
November 2006Paperback
9780521030991
320 pages
229 × 152 × 19 mm
0.501kg
48 b/w illus. 63 tables
Available
Table of Contents
- List of contributors
- Preface
- Part I. Analytics:
- 1. Introduction and overview: the case for liberalization and some drawbacks Gerald Caprio, James A. Hanson and Patrick Honohan
- 2. Robust financial restraint Patrick Honohan and Joeseph E. Stiglitz
- Part II. Cross-Country Evidence:
- 3. How interest rates changed under liberalization: a statistical review Patrick Honohan
- 4. Financial liberalization and financial fragility Asli Demirgüç-Kunt and Enrica Detragiache
- Part III. Liberalization Experience from Contrasting Starting Points:
- 5. Financial restraints and liberalization in postwar Europe Charles Wyplosz
- 6. The role of poorly phased liberalization in Korea's financial crisis Yoon Je Cho
- 7. Interest rate spreads in Mexico during liberalization Fernando Montes-Negret and Luis Landa
- 8. The financial sector in transition: tales of success and failure Fabrizio Coricelli
- 9. Indonesia and India: contrasting approaches to repression and liberalization James A. Hanson
- 10. Reforming finance in a low income country: Uganda Irfan Aleem and Louis Kasekande
- Index.
