Finance & Development articles from March 1996

Finance & Development archives from March 1996

Payment system reforms and monetary policy.(Banking and Monetary Reform)
March 1, 1996... The design of payment systems has important implications for the conduct of monetary policy, the soundness of financial firms, and the functioning of the economy as a whole. The term "payment system" refers to the instruments, organizations,...

Stock markets: a spur to economic growth.(Banking and Monetary Reform)
March 1, 1996... World stock markets are booming and stock markets in developing countries account for a disproportionately large share of this boom. Investors are venturing into the world's newest markets and some are seeing handsome returns. But are developing...

The emerging East Asian bond market.(Banking and Monetary Reform)
March 1, 1996... The rapid growth of East Asia's bond markets mirrors the region's spectacular economic development. East Asian bond markets are projected to thrive over the next decade, reflecting continued strong private sector growth and deepening financial...

Adopting indirect instruments of monetary policy.
March 1, 1996... In the late 1970s, industrial countries began moving toward full reliance on indirect instruments, such as open market operations, rediscount facilities, and reserve requirements. Many developing and transition economies have followed suit....

Financial sector reforms in China.(Banking and Monetary Reform)
March 1, 1996... China's financial reform - an integral part of its transition to a market economy - has been characterized by pragmatism and gradualism. During the first decade of reforms, policymakers have emphasized institutional development, with the result...

The tequila effect and Argentina's banking reform. (includes related articles on the Trust Fund and the restructuring of provincial banks)(Banking and Monetary Reform)
March 1, 1996... The disruption of Mexico's economy in late 1994 triggered a confidence crisis in Argentina that accelerated the restructuring of the banking sector. The restructuring process has involved the privatization of provincial banks, consolidation of...

Emerging stock markets in 1995: decline followed by year-end upturn. (includes related articles on the International Finance Corp.'s Emerging Markets Data Base and on 1995 performance of Jordanian equities)(World Economy in Transition)
March 1, 1996... Emerging stock markets had a difficult year in 1995. The International Finance Corporation's Investable Composite Index (IFCI Composite), which tracks share prices in 26 emerging markets (Box 1), was down 10.3 percent (in US dollar terms) at the...

Globalization: new opportunities, tough challenges.(Global Economic Prospects and the Developing Countries)
March 1, 1996... Greater integration of developing countries into the global economy will present some difficult challenges but is well worth pursuing. Industrial and developing countries alike stand to gain significantly. Over the past two decades, world...

The impact of the internationalization of services on developing countries. (includes related article on information technology)(Global Economic Prospects and the Developing Countries)
March 1, 1996... Advances in information technology have vastly expanded the range of services that can be traded internationally. Developing countries stand to benefit on two fronts - they will be able to increase their exports of services and they will gain...

Reverse linkages: the growing importance of developing countries.(Global Economic Prospects and the Developing Countries)
March 1, 1996... As trade between developing and industrial countries grows and cross-border capital mobility increases, the developing countries will have a greater impact on the global economy. Although public debate has focused on possible adverse effects on...

Exchange rate regimes as inflation anchors. (includes related article on IMF system for classifying exchange rates)(Global Economic Prospects and the Developing Countries)
March 1, 1996... Are fixed exchange rate regimes more effective in inflation-fighting programs than flexible regimes? The answer is elusive. The operational differences between the two types of regimes have narrowed, and the relationship between choice of regime...

Growth and financial stability in the Middle East and North Africa.(Global Economic Prospects and the Developing Countries)
March 1, 1996... This is a particularly opportune time for countries in the Middle East and North Africa to implement reforms to fulfill their considerable economic potential and reap the benefits of greater globalization and integration. The countries of the...

Regional economic growth and convergence in India.(Global Economic Prospects and the Developing Countries)
March 1, 1996... While per capita incomes in the states of India are quite diverse, they have been slowly converging in recent decades. Convergence has been aided by grants from the central government to the states; however, the contribution of internal migration...