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Sequencing of Financial Sector Reforms: A Review
Author:
Vicente Galbis null

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Series:
IMF Working Papers
Volume/Issue:
Volume 1994: Issue 101
Language:
English
Publication Date:
01 Sep 1994
DOI:
https://doi.org/10.5089/9781451852462.001
ISBN:
9781451852462
ISSN:
1018-5941
Pages:
32
Keywords:
WP; liberalization; market; financial institution; interest rate; liberalization measure; financial liberalization; treasury bill market; capital liberalization; market equilibrium; liberalization process; market determination; interest rate liberalization; market distortion; Financial sector; Financial sector reform; Monetary policy instruments
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper provides a review of the literature on both analytical issues and country experiences on the sequencing of financial sector reforms. It discusses the choice between big-bang and gradual reforms, the relationship of financial sector reforms to other economic reforms, the internal sequencing of financial sector measures and the influence of initial conditions. It is concluded that a pragmatic approach to the sequencing issue is necessary as there are only a few general principles valid for all countries.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund