Regulatory Failure in Emerging Markets
Systemic failure in Asian markets has been analysed and attempts made to correct future occurences by changes to the regulatory models governing those markets. However many of those markets still have not initiated necessary public sector reforms to ensure good governance, financial Stability and market based accounting systems. Hence policies which appear rational from a macroeconomic viewpoint may not be sufficient. Also questions can be raised as to the neccesity of some of the IMF programmes. Indonesia is used as a case study to illustrate the case for a new blueprint for recovery that does not rely on traditional methods that can be at times be totally counterproductive to the original goals.
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- John M Montgomery, 1997. "The Indonesian Financial System; Its Contribution to Economic Performance, and Key Policy Issues," IMF Working Papers 97/45, International Monetary Fund.
- P. Honohan, 2000.
"Banking System Failures in Developing and Transition Countries: Diagnosis and Prediction,"
Banca Monte dei Paschi di Siena SpA, vol. 29(1), pages 83-109, 02.
- Patrick Honohan, 1997. "Banking system failures in developing and transition countries: Diagnosis and predictions," BIS Working Papers 39, Bank for International Settlements.
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