Reforming Financial Systems: Historical Implications for Policy

ISBN-13: 9780521581158 / Angielski / Twarda / 1997 / 236 str.

Jr. Gerard Caprio; Dimitri Vittas; Jr. Caprio

Opis

This volume summarizes the key lessons of financial history for emerging market and developing economies, mostly drawn from when OECD economies themselves were industrializing and did not possess the checks, balances, and supervisory capabilities they have today. The topics include the role of central banks, debates on how to make banking secure and sound, the relative efficiency of universal banking (compared with the Anglo-American commercial banking model), and the role of savings banks, nonbanks, and securities markets in development.

Recenzje

'Reforming Financial Systems by Gerard Caprio and Dimitri Vittas is an extraordinary compendium of different historical experiences with the development and regulation of the financial system. It genuinely delivers on the promise of one of its chapter titles: it provides important lessons from the past for present-day financial reforms.' Bruce Smith, University of Texas, Austin

Spis treści

List of contributors; 1. Financial history: lessons of the past for reformers of the present Gerard Caprio Jr. and Dimitri Vittas; 2. The evolution of central banking Forrest Capie; 3. Free banking: the Scottish experience as a model for emerging economies Randall S. Kroszner; 4. Regulation and bank stability: Canada and the United States, 1870–1980 Michael Bordo; 5. Deposit insurance Eugene White; 6. Contingent liability in banking: useful policy for developing countries? Anthony Saunders and Berry Wilson; 7. Universal banking and the financing of industrial development Charles W. Calomiris; 8. Before main banks: a selective historical overview of Japan's prewar financial system Frank Packer; 9. Thrift deposit institutions in Europe and the United States Dimitri Vittas; 10. The development of industrial pensions in the United States during the twentieth century Samuel H. Williamson; 11. The rise of securities markets: what can government do? Richard Sylla; Index.