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Financial Stability and Economic Development in Transitional Economies

Author

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  • Fry, M.J.

Abstract

In most countries, central banks are responsible for financial stability as well as monetary policy and the national or wholesale payment systems. In the transitional economies, rapid transformation from a monobanking system into a two-tier banking system produces casualties, instabilit and fragility. Many gaps existed in the financial landscape in terms of institutions and markets that typically constitute financial sectors in the industrial countries. Central bankers also faced uncompetitive and uncooperative commercial banking systems. Much has changed over the past decade in the transitional economies.

Suggested Citation

  • Fry, M.J., 1998. "Financial Stability and Economic Development in Transitional Economies," Papers 98-03, University of Birmingham - International Financial Group.
  • Handle: RePEc:fth:birmif:98-03
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    More about this item

    Keywords

    MONETARY POLICY ; ECONOMIC DEVELOPMENT ; CENTRAL BANKS;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • P34 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Finance
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

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