On 3 July 2015, SUERF organized its sixth joint conference with the Bank of Finland in Helsinki on the subject of liquidity and market efficiency. The one-day program consisted of an opening speech, six presentations, including three keynotes, and a lunchtime address. The present SUERF Study...

The paper begins with a brief review of the major problems facing the economy in 1984 and discusses how the financial regulatory framework had contributed to the development of those problems. A presentation of the sequencing of reforms follows. The main financial and other economic reforms are...