Financial Development In The Cis 7 Countries
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Financial Development In The Cis 7 Countries
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Author : Mr.Gianni De Nicolo
language : en
Publisher: International Monetary Fund
Release Date : 2003-10-01
Financial Development In The Cis 7 Countries written by Mr.Gianni De Nicolo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-10-01 with Business & Economics categories.
This paper documents the great divide in the level of financial development between the Commonwealth of Independent States (CIS) 7 countries and the more advanced economies in transition, in particular those of Central and Eastern Europe and Baltic states. It discusses the roots of financial underdevelopment in the CIS-7 countries by examining the differentials in interest rate spreads between the CIS-7 countries and the transition economies that have achieved faster financial development. The roots of the divide are traced to weaknesses in the institutional infrastructure for financial intermediation, which lead to a combination of low depositor trust in the banking system and high credit risk. High credit risk stems mainly from the poor creditor-rights protection and weak auditing and accounting standards. Financial sector reform strategies that fail to give priority to the resolution of weaknesses in the basic financial infrastructure are unlikely to be successful in letting the CIS-7 countries bridge the great divide.
Financial Development In The Cis 7 Countries
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Author : Gianni De Nicolo
language : en
Publisher:
Release Date : 2006
Financial Development In The Cis 7 Countries written by Gianni De Nicolo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
This paper documents the great divide in the level of financial development between the Commonwealth of Independent States (CIS)-7 countries and the more advanced economies in transition, in particular those of Central and Eastern Europe and Baltic states. It discusses the roots of financial underdevelopment in the CIS-7 countries by examining the differentials in interest rate spreads between the CIS-7 countries and the transition economies that have achieved faster financial development. The roots of the divide are traced to weaknesses in the institutional infrastructure for financial intermediation, which lead to a combination of low depositor trust in the banking system and high credit risk. High credit risk stems mainly from the poor creditor-rights protection and weak auditing and accounting standards. Financial sector reform strategies that fail to give priority to the resolution of weaknesses in the basic financial infrastructure are unlikely to be successful in letting the CIS-7 countries bridge the great divide.
The Low Income Countries Of The Commonwealth Of Independent States
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Author : Sarosh Sattar
language : en
Publisher: International Monetary Fund
Release Date : 2004-04-22
The Low Income Countries Of The Commonwealth Of Independent States written by Sarosh Sattar and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-04-22 with Business & Economics categories.
The CIS-7 Initiative was launched in 2002 and endorsed by ministers from the CIS-7 and donor countries, with the objective of promoting poverty reduction, economic growth, and debt sustainability among the seven poorest countries of the Commonwealth of Independent States (CIS). This volume draws from the follow-up conference held in Lucerne, Switzerland, in January 2003. The objective of this conference was to achieve an understanding of the development agenda in the seven countries and the key policy measures to be taken by the governments and donors to improve future prospects for the countries’ populations.
Debt Accumulation In The Cis 7 Countries
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Author : Ashoka Mody
language : en
Publisher: International Monetary Fund
Release Date : 2004-05
Debt Accumulation In The Cis 7 Countries written by Ashoka Mody and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-05 with Business & Economics categories.
Following the breakup of the Soviet Union in 1992, several low-income countries in the Commonwealth of Independent States (CIS) accumulated substantial external debt in a short time span, about half of which is owed to multilateral financial institutions. Three factors contributed to the current debt burden. First, the initial years of transition brought large systemic economic disruptions, loss of transfers from the center and collapse of trade relations among Council for Mutual Economic Assistance (CMEA) countries, and negative terms of trade shocks. Second, fiscal and other reforms, and consequently, growth revival, took longer than expected. Third, overoptimism by multilaterals contributed to the high debt levels. If external financial assistance, which was needed because of high social costs of the transition, had come in the form of grants in the first two or three years of the transition, the debt burden would have been lower and sustainable.
Georgia Selected Issues
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Author : International Monetary Fund
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2006-05-16
Georgia Selected Issues written by International Monetary Fund and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-05-16 with categories.
This Selected Issues paper reviews the financial sector development in Georgia in recent years, and investigates why it has lagged behind economic development, as well as developments in more advanced transition economies. The paper briefly reviews recent financial sector development in Georgia, comparing it with developments in its neighboring countries in the Caucasus, the seven poorest countries in the Commonwealth of Independent States (CIS-7), the Baltics, and central and eastern Europe. The paper also analyzes possible factors constraining financial intermediation in Georgia and in some of the CIS countries more generally.
Finance Development December 2003
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Author : International Monetary Fund. External Relations Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2003-12-15
Finance Development December 2003 written by International Monetary Fund. External Relations Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-12-15 with Business & Economics categories.
This paper describes why the international community needs to act now to stand a chance of meeting the Millennium Development Goals (MDGs). The paper gives example of Ethiopia, one of the poorest countries in the world, with an estimated per capita income of about US$100. According to the World Bank, recent national household surveys find 44 percent of the people in Ethiopia cannot meet basic needs. The paper discusses that Ethiopia in many ways epitomizes why the MDGs are important and why more money is needed to achieve them.
Constraints To Growth And Job Creation In Low Income Commonwealth Of Independent States Countries
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Author : Paolo Verme
language : en
Publisher: World Bank Publications
Release Date : 2006
Constraints To Growth And Job Creation In Low Income Commonwealth Of Independent States Countries written by Paolo Verme and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Unemployment categories.
"Despite sustained output growth since 1997, low-income Commonwealth of Independent States (CIS) countries (CIS-7) have not experienced growth in employment, a phenomenon observed elsewhere in transitional economies and labeled as "jobless growth." The author addresses the causes of this phenomenon in the CIS-7. He argues that the lack of job creation is explained by a combination of structural factors, including capital-intensive growth, large potential for productivity gains among existing workers, and compartmentalized economies best depicted by a dual labor market framework. Agriculture and industry have performed asymmetrically and grown apart during the recession and during the growth periods. Agriculture provides subsistence and refuge from urban poverty and unemployment but is unable to grow beyond subsistence because it is disconnected from industrial manufacturing and because the agricultural infrastructure is depleted and underinvested. Industry has progressively lost its manufacturing capacity, and focuses on capital-intensive, highly productive sectors, and provides good wages for the few highly skilled workers. With governments and the international community currently refraining from investing in agricultural and industrial policies focused on reviving manufacturing, jobless growth is likely to persist. "--World Bank web site.
Recent Policies And Performance Of The Low Income Cis Countries An Update Of The Cis 7 Initiative
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Author : European Bank for Reconstruction and Development
language : en
Publisher: International Monetary Fund
Release Date : 2004-04-24
Recent Policies And Performance Of The Low Income Cis Countries An Update Of The Cis 7 Initiative written by European Bank for Reconstruction and Development and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-04-24 with Political Science categories.
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Finance Development
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Author :
language : en
Publisher:
Release Date : 2003
Finance Development written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Economic assistance categories.
Growth And Poverty Reduction In Armenia
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Author : Ms.Laure Redifer
language : en
Publisher: International Monetary Fund
Release Date : 2005-11-09
Growth And Poverty Reduction In Armenia written by Ms.Laure Redifer and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-11-09 with Business & Economics categories.
Since 2000, Armenia's economic performance has been remarkable. Real economic growth has averaged 11 percent a year, annual inflation has averaged 3 percent, and poverty and inequality have fallen. The country has outperformed other low-income countries including other members of the Commonwealth of Independent States. This is particularly impressive given the geographical location of Armenia, the closure of two critical borders, and occasional political turmoil. The key factors behind Armenia's economic performance are prudent monetary and fiscal policies, liberal trade and foreign exchange regimes, rapid and relaively well-sequenced structural reforms, and support from the Armenian diaspora. In addition, the implementation of a poverty reduction strategy since 2002 has complemented the effect of economic growth on reducing poverty. This book assesses the country's economic transformation during the last 10 years and discusses the challenges to sustaining these successes.