UID:
edocfu_9958072904702883
Format:
1 online resource (38 p.)
ISBN:
1-4623-4875-0
,
1-4527-9551-7
,
1-282-63467-4
,
9786613822840
,
1-4519-1261-7
Series Statement:
IMF working paper ; WP/07/245
Content:
This paper assesses the status of financial development in Emerging Europe, analyzes the factors that have shaped it, and discusses policy priorities. Financial development has progressed to varying degrees across the region. Macroeconomic stability and institutional quality have been important factors. Going forward, the EU integration process is likely to propel further reforms and shape financial development in EU members. In non-EU emerging economies the focus should be on maintaining macroeconomic stability and strengthening law enforceability. Creating a well-functioning government securities market, reinforcing corporate governance and creditor rights protection, and promoting the emergence of institutional investors would be beneficial.
Note:
"October 2007".
,
Contents; I. Introduction; II. Indicators of Financial development in Emerging Europe; Figures; 1. Bank Credit To The Private Sector And Per Capita Income, 2006; 2. Bank Credit To The Private Sector, 2006 (Percent Of GDP); 3. Institutional Investor Size, 2006 (Percent Of GDP); 4. Equity Market Turnover And Capitalization, 2006; III. Determinants of financial sector development; A. Literature Review; 5. Outstanding Debt Securities, 2006; B. Determinants of financial development in emerging Europe; Tables; 1. Correlation Coefficients, 1999-2006
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2. Determinants Of DMB Credit In Emerging Europe, Cross-Country Regressions,3. Determinants of DMB Credit In Emerging Europe, Panel Regression; IV. Way forward; A. Financial development in EU emerging economies: the role of integration; 6. Institutional Quality Index, 2006; 7. Borrowers And Lenders Legal Rights Index, 2006; 8. Credit Information Index, 2006; 9. Corporate Governance (Compliance With OECD Principles), 2004; B. Fostering financial development in non-EU emerging economies; 10. CPI Inflation; 11. Property Rights Index, 2006; 12. Cost Of Enforcing A Contract (Percent of Debt), 2006
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13. Banking Reform And Interest Rate Liberalization, 200614. Regulatory And Supervisory Power Index, 2003; V. Case studies; A. Developing the government securities market: the experience of Hungary; 15. Hungary: Central Government Debt (Percent of GDP); 4. Hungary: Selected Indicators; B. Securities market development in Ukraine; 5. Ukraine: Selected Indicators; 6. Ukraine: Public Debt, 1999-2006 (Percent of GDP); VI. Conclusions and policy implications; References; Definitions And Data Sources
,
English
Additional Edition:
ISBN 1-4518-6808-1
Language:
English
