Cover Financial Sector Reforms and Exchange Arrangements in Eastern Europe
Financial Sector Reforms and Exchange Arrangements in Eastern Europe
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Abstract

The two papers draw from the brief yet radical reform experiences of five countries-Bulgaria, former Czechoslovakia, Hungary, Poland, and Romania. The first paper describes the financial sector reforms untertaken by these countries since the 1980s, as well as the problems encountered. It also discusses the roles privatization, stabilization policies, and prudential supervision can play in the financial sector development of these countries. The second paper analyzes the different exchange arrangements as they apply to previously centrally planned economies; examines the general arguments for convertability in these countries; and considers the desirable degree of exchange rate flexibility.

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Author: Mr. Guillermo Calvo1, Mr. Eduardo Borensztein, Mr. Paul R Masson, and Mr. Manmohan S. Kumar
  • 1 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund
Series:
Occasional Papers
Publisher:
International Monetary Fund
Language:
English
Publication Date:
15 Feb 1993
DOI:
https://doi.org/10.5089/9781557752796.084
ISBN:
9781557752796
ISSN:
0251-6365
Pages:
66
Keywords:
OP; market; current account convertibility; stabilization policy; PCPEs; convertibility; price liberalization; market mechanism; privatization process; Exchange rates; Commercial banks; Exchange rate arrangements; Stock markets; Credit; Eastern Europe; Europe; Central and Eastern Europe; Currencies; Caribbean
Legal-disclaimer:
The views expressed in this book are those of the authors and should not be reported as or attributed to the International Monetary Fund, its Executive Board, or the governments of any of its member countries.