|
Archive@NYU >
Stern School of Business >
Finance Working Papers >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/2451/27281
|
| Title: | Financial System Design for Formerly Planned Economies: Defining the Issues |
| Authors: | Udell, Gregory F.
Wachtel, Paul |
| Issue Date: | Dec-1994 |
| Series/Report no.: | FIN-94-050 |
| Abstract: | The formerly planned economies (FPEs) of Eastern Europe and the former
Soviet Union are a rather disparate group of nations with widely
differing financial structures. In some of the countries of Eastern
Europe the financial infrastructure is beginning to assume the
characteristics that are found in the West. In other instances, the very
institutions of a functioning financial system hardly exist. Thus, the
tasks faced by policy-makers in these countries can vary from the reform
of existing institutions to the creation of brand new ones. However, in
all instances it is important to focus on the steps that must be taken
to develop the financial institutions with the incentive structure for
efficient capital market allocations and the provision of a stable
payments mechanism, as well as the mechanisms for the conduct of
monetary policy. In this paper we will outline the issues and problems
faced by the financial sector in the transition from a planned to a
market economy. |
| URI: | http://hdl.handle.net/2451/27281 |
| Appears in Collections: | Finance Working Papers
|
All items in Faculty Digital Archive are protected by copyright, with all rights reserved.
|
