Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451855559
Total Pages : 52 pages
Book Rating : 4.55/5 ( download)
Book Synopsis Financial Sector Reform and Banking Crises in the Baltic Countries by : International Monetary Fund
Download or read book Financial Sector Reform and Banking Crises in the Baltic Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 1996-12-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial sector reform in the Baltic countries is reviewed in light of the banking crises that emerged during the reform period. It is argued that the crises had their roots in the structural deficiencies specific to planned economies and the financial environment that developed before and after these countries regained their independence, thus rendering them largely inevitable. Because of the low level of financial intermediation, however, even the failure of large banks had limited systemic effects and a minor negative impact on output and incomes. The crises slowed down the financial reform process, but brought about a desired consolidation of the banking sector.