Financial Liberalization in Developing Countries : Issues, Time Series Analyses and Policy Implications

by Abdullahi Dahir Ahmed, Sardar M. N. Islam

The latest global financial and economic crisis of 2008 has shown the need to re-examine the desirability of financial liberalization. This book is undertaking such a study on the issue of financial and market liberalization by adopting sophisticated econometric methods. It examines the effects of financial liberalization on economic development and social welfare using a case study approach on a sample of three Sub-Saharan African and an Asian country in which financial liberalization reforms were implemented. Further, it highlights some key causes of the failure of reform, and the policies and institutions that are needed to create an environment for successful financial liberalization. From the detailed country assessments, various policies such as effective competition in the banking sector, sound legal system, fiscal discipline and financial institutional development are identified, adoption of which can improve the efficiency of resource allocation, boost savings and impact growth, and thus lead to welfare enhancement.

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Year of publication:	2009
Authors:	Ahmed, Abdullahi Dahir
Other Persons:	Islam, Sardar M. N. (contributor)
Publisher:	Heidelberg : Physica-Verlag Heidelberg
Subject:	Finanzsektor \| Financial sector \| Deregulierung \| Deregulation \| Finanzmarktregulierung \| Financial market regulation \| Entwicklung \| Economic development \| Sparen \| Savings \| Kosten-Nutzen-Analyse \| Cost-benefit analysis \| Wohlfahrtsanalyse \| Welfare analysis \| Entwicklungsländer \| Developing countries \| Kenia \| Kenya \| Malawi \| Botsuana \| Botswana \| Thailand \| Kreditmarkt \| Kreditwesen \| Liberalisierung \| Wirtschaftsentwicklung
Description of contents:	Table of Contents [swbplus.bsz-bw.de] ; Description [swbplus.bsz-bw.de] ; Description [swbplus.bsz-bw.de]

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Extent:	Online-Ressource (XVIII, 298 p. 42 illus, digital)
Series:	Contributions to Economics SpringerLink / Bücher
Type of publication:	Book / Working Paper
Language:	English
Notes:	Includes bibliographical references (p. 277-292) and index 185544_1_En_FM1_OnlinePDF.pdf; Acknowledgements; Acknowledgements; Foreword; Abstract and Preface; Reviews; Contents; Foreword; Abstract and Preface; Reviews; Contents; 185544_1_En_1_Chapter_OnlinePDF.pdf; Chapter 1: Introduction; Contemporary Issues in Finance; Financial Repression; Financial Liberalization; Financial Crisis and Financial Contagion; International Capital Mobility/Capital Control; Financial Liberalization: Opposing Views; Approaches to Financial Liberalization; Financial Liberalization and Country Experience in Africa and Asia Benefits of Financial Liberalization: An Empirical IssueThe Objectives of this Book; Methodology; Time Series Financial Econometrics; Cost Benefit Analysis; Contribution of this Book; The Structure of the Book; 185544_1_En_2_Chapter_OnlinePDF.pdf; Chapter 2: Background, Structure and Financial Reforms; 2.1 Introduction; 2.2 The Case of Kenya; 2.2.1 The Structure of the Financial System; 2.2.2 Agricultural Sector and Other Policies Framework; 2.2.3 Liberalization and the Era of Structural Adjustments; 2.3 The Case of Malawi; 2.3.1 Structure of the Financial System 2.3.2 Agricultural Sector and Other Policies Framework2.4 The Case of Botswana; 2.4.1 Structural Developments of the Financial System; 2.4.2 Supplementing Role of Foreign Aid in Botswana: The Two-Gap Model; 2.4.3 Trends and Policies in Agriculture and other Sectors; 2.5 The Thai Financial System; 2.6 Conclusion; 185544_1_En_3_Chapter_OnlinePDF.pdf; Chapter 3: Literature Review; 3.1 Introduction; 3.2 Financial Development and Economic Development; 3.3 Financial Liberalization; 3.3.1 Financial Liberalization in Sub-Saharan Africa; 3.3.2 The Thai Case; 3.4 Conclusion 185544_1_En_4_Chapter_OnlinePDF.pdfChapter 4: The Theory of Financial Liberalization and its Economic Impact: An Assessment; 4.1 Financial Liberalization; 4.1.1 A Brief Theoretical Assessment; 4.1.2 Observations from the Case Study; 4.2 Contrasts Between the Theory and Country Performance; 4.2.1 Introduction; 4.2.2 Economic Impact of the Recent Financial Reforms: Kenya; 4.2.3 Malawi; 4.2.4 Botswana; 4.3 Conclusion; Appendix; 185544_1_En_5_Chapter_OnlinePDF.pdf; Chapter 5: An Analysis of the Economic Outcome of Financial Liberalization1; 5.1 Introduction 5.2 A Simple Model of Imperfect Competition and Interest Rate Spread5.2.1 Liberalization: Market Determined Outcome; 5.2.2 Financial Repression; 5.2.3 The Level of Fixed Costs as a Barrier to Entry; 5.2.4 Graph of Fixed Costs and New Entry; 5.2.5 Dynamics of how much the Interest Rate goes up after Liberalization; 5.3 Financial Reforms and Absence of Entry by New Foreign Banks; 5.4 Conclusion; Appendix A 5.1: Deriving the Market Equilibrium Condition for Loan Equation; Appendix A 5.2: Deriving the Fixed Cost Lines for Medium and Lower Regions at {\mathop {{\bar r\,^c}}\ } Appendix A 5.3: Maximal Points for C and D Curves
ISBN:	978-3-7908-2168-0 ; 978-3-7908-2167-3 ; 978-1-282-45901-4 ; 978-3-7908-2167-3
Other identifiers:	10.1007/978-3-7908-2168-0 [DOI]
Classification:	Geld, Inflation, Kapitalmarkt ; Entwicklungsökonomie
Source:	ECONIS - Online Catalogue of the ZBW

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