Reforming Financial Systems

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.