Finance & Development articles from September 1997

Finance & Development archives from September 1997

Hong Kong, China in transition. (includes related article on institutional arrangements for Hong Kong under Chinese rule)(Asia Adapts to Global Change)(Cover Story)
September 1, 1997... Hong Kong, China's transparent and rules-based approach to economic policymaking has encouraged its rapid growth over the past decade and a half. How has this approach been applied in practice, and how can Hong Kong maintain its impressive...

The maturation of the East Asian miracle. (East Asian economies)(Asia Adapts to Global Change)(Cover Story)
September 1, 1997... The sustainability of the East Asian miracle is being questioned as the region's economies are buffeted by problems. What are the problems, and how can East Asian countries cope with them to maximize their chances of continuing their rapid...

Japanese foreign direct investment and regional trade.(Asia Adapts to Global Change)(Cover Story)
September 1, 1997... Japan's foreign direct investment abroad has boomed over the past decade as many Japanese companies have set up production facilities overseas. What impact has this had on Japan's manufacturing sector and trade patterns, and is it likely to...

Reforming legal systems in developing and transition countries. (includes related article on legal reform)
September 1, 1997... A weak legal system can undercut efforts to develop a modern, market-oriented economy. What is the relationship between legal reform and economic reform, and what specific steps can countries take to encourage the former? In countries where...

The state in a changing world. (includes related articles on state's effectiveness in developing countries)
September 1, 1997... The state has an important role to play in economic and social development as a partner, catalyst, and facilitator. An effective - not a minimalist - state is needed to provide the goods and services - and rules and institutions - that allow...

How can states foster markets? (includes related articles on Jamaica's telecommunications regulation and on Japan's metal industry)
September 1, 1997... Governments can encourage market development by clearly defining property rights, ensuring a sound regulatory framework, and pursuing industrial policies. But what they do in these areas should be determined by their institutional capability....

Improving the state's institutional capability.
September 1, 1997... An effective government is necessary for economic development. But states may intervene in economic activity in ways that are harmful What is needed are mechanisms that enable the state to act in the public interest and that check arbitrary and...

Financial sector reforms in Morocco and Tunisia.
September 1, 1997... Morocco and Tunisia have made determined efforts over the past decade to reform their financial systems. How much progress have they made, and what remains to be done to ensure that their financial sectors efficiently mobilize and allocate...

Experience under the IMF's Enhanced Structural Adjustment Facility. (includes related article on IMF program)
September 1, 1997... The IMF supports reform in poor countries through its Enhanced Structural Adjustment Facility (ESAF). An IMF study found that policy gains under ESAF have helped improve growth and living standards and progress toward external viability. ESAF...

Decentralizing government.
September 1, 1997... Decentralizing government operations can improve economic welfare. But decentralization requires close policy coordination among all levels of government. Over the last few decades, a clear trend has emerged worldwide toward devolving spending...

Efficient public sector downsizing. (includes related article on downsizing in Central Bank of Ecuador)
September 1, 1997... Public sector downsizing is an important part of many developing countries' economic reform efforts. Carrying out downsizing operations successfully is not easy, however, and requires careful analysis, planning, and implementation. Public...

The Real Plan, poverty, and income distribution in Brazil.
September 1, 1997... Since Brazil's stabilization program was implemented in 1994, the percentage of Brazilians living in poverty has decreased and the distribution of income has registered a small improvement. But poverty and income inequality remain severe. For...

What impact will EMU have on European securities markets? (European Economic and Monetary Union)
September 1, 1997... The introduction of the euro will create opportunities for greater integration of Europe's financial markets. If integration and efficiency gains are achieved, Europe's securities markets could rival US markets in size and efficiency. European...