The initial enthusiasm which greeted the experiments in financial reform of the 1970s and 1980s has been replaced in some countries by skepticism and disillusionment about the effectiveness of such reform. This book analyzes a set of Asian and Latin American countries' experiences to determine the anatomy of success and failure of financial reform policies. It characterizes the post-reform behavior of developing countries' financial markets and argues that knowledge of these characteristics facilitates appropriate responses of policy makers and financial managers and improves the chance of success of financial reform policies. Policy makers in developing countries have often expressed an interest in establishing stock exchanges and forward exchange markets, and in implementing regulations for the safety and soundness of their financial institutions. The book therefore addresses the establishment of a stock exchange and a forward exchange market and the implementation of appropriate regulations for financial institutions in developing countries.

About the Author

WILBERT O. BASCOM is Chief of the Bureau of Internationl Banking in the State of Florida. He was formerly an Assistant Lecturer at the City of London College, Adjunct Professor at the Florida State University College of Business and Visiting Professor at the Florida International University Department of Economics. He was also a Senior Managing Director of the Guyana National Cooperative Bank. He served as a Financial Advisor to the Government of Dominica, West Indies. Currently, Dr Bascom is a member of the Conference of State Bank Supervisors' International Banking Council and the Florida International Trade and Investment Council. He is also Chairman of the Florida Export Finance Corporation's Board of Directors.

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