Restructuring of Financial Sector in Pakistan
AbstractLike many other developing countries Pakistan also undertook the process of financial restructuring through reforms in early 1990s to establish a more market-based system of financial intermediation and government financing, conduct the monetary policy more efficiently through greater reliance on indirect instruments and increase the contribution to the rapid development of the stock markets. These reforms were primarily designed to correct the dissertations implicit in the administrated structure of rates of returns on various financial instruments, to abolish the directed and subsidized schemes, to allow free entry of private banks in the financial sector in order to enhance the competition and efficiency in the financial sector and to strengthen the State Bank of Pakistan. This study discus the financial restructuring strategy and the stages it has passed over time and history of financial reforms carried out so far in Pakistan.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 3921.
Date of creation: Jul 2002
Date of revision:
Publication status: Published in Journal of The Institute of Bankers Pakistan 3.70(2003): pp. 49-68
Find related papers by JEL classification:
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
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- International Monetary Fund, 1996. "The Role of the Prudential Supervision and Financial Restructuring of Banks During Transition to Indirect Instruments of Monetary Control," IMF Working Papers 96/128, International Monetary Fund.
- Delano Villanueva & Abbas Mirakhor, 1990. "Strategies for Financial Reforms: Interest Rate Policies, Stabilization, and Bank Supervision in Developing Countries," IMF Staff Papers, Palgrave Macmillan, vol. 37(3), pages 509-536, September.
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- Dalla, I. & Khatkhate, D., 1995. "Regulated Deregulation of the Financial System in Korea," World Bank - Discussion Papers 292, World Bank.
- David S. Hoelscher, 1998. "Banking System Restructuring in Kazakhstan," IMF Working Papers 98/96, International Monetary Fund.
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