Publication:
A Comparative Analysis of Financial Sector Reforms and Policies in Countries Exiting Fragility

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dc.contributor.authorCalice, Pietro
dc.contributor.authorDemekas, Dimitri G.
dc.date.accessioned2024-07-18T20:25:43Z
dc.date.available2024-07-18T20:25:43Z
dc.date.issued2024-07-18
dc.description.abstractFinancial sector reforms are part of the strategies that countries follow to exit from fragility, but the content and focus of these reforms and the priority they are given relative to other policies vary from country to country. Based on an archival search of publicly available World Bank and the International Monetary Fund country documents, this paper investigates and compares the experiences of seven countries (Armenia, Benin, Cambodia, the Dominican Republic, Rwanda, Senegal, and Viet Nam) that successfully and sustainably exited fragility during the 1980s and 1990s, focusing on the financial sector reforms that were implemented around the time of the exit. The review suggests a few broad patterns. Regardless of the original causes of fragility, successful exit strategies always included financial sector reforms, which invariably focused on short-term goals: stopping bank losses, establishing monetary control, and re-starting the engine of financial intermediation and the flow of credit to the economy. Longer-term financial development goals, such as financial deepening, were recognized as important, but the requisite policy interventions came later, after the financial sector had been restored to health and was able to discharge its basic functions. Crucially, substantial, hands-on, long-term technical assistance and capacity building were in all cases necessary to ensure the long-term success of these reforms.en
dc.identifierhttp://documents.worldbank.org/curated/en/099432307162469055/IDU12ab7d8b313723147911bb8c1448b89e239d6
dc.identifier.doi10.1596/1813-9450-10853
dc.identifier.urihttps://hdl.handle.net/10986/41904
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesPolicy Research Working Paper; 10853
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/igo/
dc.subjectFRAGILE AND CONFLICT-AFFECTED STATES
dc.subjectFINANCIAL SECTOR REFORMS
dc.subjectWORLD BANK
dc.subjectINTERNATIONAL MONETARY FUND (IMF)
dc.subjectDECENT WORK AND ECONOMIC GROWTH
dc.subjectSDG 8
dc.subjectPEACE, JUSTICE AND STRONG INSTITUTIONS
dc.subjectSDG 16
dc.subjectPARTNERSHIP FOR THE GOALS
dc.subjectSDG 17
dc.titleA Comparative Analysis of Financial Sector Reforms and Policies in Countries Exiting Fragilityen
dc.typeWorking Paper
dspace.entity.typePublication
okr.crossref.titleA Comparative Analysis of Financial Sector Reforms and Policies in Countries Exiting Fragility
okr.date.disclosure2024-07-18
okr.date.lastmodified2024-07-16T00:00:00Zen
okr.doctypePolicy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099432307162469055/IDU12ab7d8b313723147911bb8c1448b89e239d6
okr.guid099432307162469055
okr.identifier.docmidIDU-2ab7d8b3-3723-4791-bb8c-448b89e239d6
okr.identifier.doi10.1596/1813-9450-10853
okr.identifier.externaldocumentum34365341
okr.identifier.internaldocumentum34365341
okr.identifier.reportWPS10853
okr.import.id4818
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099432307162469055/pdf/IDU12ab7d8b313723147911bb8c1448b89e239d6.pdfen
okr.region.geographicalWorld
okr.sectorBanking Institutions
okr.topicConflict and Development::Conflict and Fragile States
okr.topicFinance and Financial Sector Development::Financial Sector and Social Assistance
okr.topicGovernance::International Governmental Organizations
okr.unitEFI-FCI-Finance-GD (EFNDR)
okr.unitEFI-ECA-FCI-Finance-1 (EECF1)
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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