Based on two seminars and a conference in respectively Prague and Benesov in the Czech Republic at the time of the World Bank-International Monetary Fund annual meetings in Sept. 2000.
INTERNAL BIBLIOGRAPHIES/INDEXES NOTE
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Includes bibliographical references.
CONTENTS NOTE
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Global Financial Markets and the Transition Economies -- Financial Sector Development in Perspective -- Banking Sector Restructuring -- Capital Markets: Ready to Take Off or Stalled in Flight? -- Lessons Learned and Future Challenges -- The Roles of the World Bank and the International Monetary Fund.
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SUMMARY OR ABSTRACT
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The financial sectors of the post-communist economies of Europe and Central Asia are perhaps where the most intractable problems existed and where the most difficult reforms were forced to begin. This report examines the factors that influenced, and will influence, the adaptation of ECA's financial systems, starting from an examination of how the global financial system--especially the Western European component--has evolved, and how these developments have both influenced and challenged different types of transition economies. The report also provides an opportunity to take stock of progress in the financial systems of ECA countries over the past 10 years and to identify the main challenges confronting financial policymakers during this period.