Financial Reform: Theory and Experience - Softcover

Softcover

ISBN 10: 0521574242 ISBN 13: 9780521574242

Publisher: Cambridge University Press, 1996

Synopsis

This book examines the analytical basis and practical experience of financial reforms in a number of primarily developing countries. A key finding is that financial reforms have led to improved resource allocation - an a priori belief not hitherto tested. This finding is consistent with the argument that efforts in developing countries to maximize efficiency resource utilization cannot be underestimated in their importance. There are three key lessons that suggest the crucial nature of managing the process rather than adopting a laissez-faire approach. First, more successful reform must take account of information capital; second, initial conditions in balance sheets, human and information capital, and incentive systems are fundamental in determining how to go about reform; and third, that different sequences of reforms can be tolerated and, with certain preconditions, do well.

About this title

From the Back Cover

This book examines the analytical basis and practical experience of financial reforms in a number of countries, primarily developing nations. A key finding is that financial reforms have led to improved resource allocation - an a priori belief not hitherto tested. This finding is consistent with the argument that efforts in developing countries to maximize efficiency of resource utilization cannot be underestimated in their importance. Three key lessons suggest the importance of managing the reform process rather than adopting a laissez-faire approach: first, more successful reform must take account of information capital; second, initial conditions in finance - balance sheets, human and information capital, and incentive systems - are fundamental in determining how to go about reform; and third, different sequences of reforms can be tolerated and, with certain preconditions, do well.

Edition details

• Publisher: Cambridge University Press
• Publication date: 1996
• Language: English
• ISBN 10: 0521574242
• ISBN 13: 9780521574242
• Binding: Paperback
• Number of pages: 494
• Editor: Caprio Jr Gerard, Atiyas Izak, Hanson James A.