Reforming Financial Systems Historical Implications for Policy [Hardcover]

This volume summarizes the key lessons of financial history for emerging market and developing economies.This volume summarizes the key lessons of financial history for emerging market and developing economies, mostly drawn from when OECD economies themselves were industrialized and did not possess the checks, balances, and supervisory capabilities they have today. The topics include the role of central banks, debates on how to make banking secure and sound, the relative efficiency of universal banking (compared with the Anglo-American commercial banking model), and the role of savings banks, nonbanks, and securities markets development.This volume summarizes the key lessons of financial history for emerging market and developing economies, mostly drawn from when OECD economies themselves were industrialized and did not possess the checks, balances, and supervisory capabilities they have today. The topics include the role of central banks, debates on how to make banking secure and sound, the relative efficiency of universal banking (compared with the Anglo-American commercial banking model), and the role of savings banks, nonbanks, and securities markets development.This volume summarizes the key lessons of financial history for emerging market and developing economies, mostly drawn from when OECD economies themselves were industrializing and did not possess the checks, balances, and supervisory capabilities they have today. The topics include the role of central banks, debates on how to make banking secure and sound, the relative efficiency of universal banking (compared with the Anglo-American commercial banking model), and the role of savings banks, nonbanks, and securities markets in development.List of contributors; 1. Financial history: lessons of the past for reformers of the present Gerard Caprio Jr. and Dimitri Vittas; 2. The evolution of central banking Forrest Capie; 3. Free banking: the Scottish experience as a model for emerging economies Randall S. Kl“5