Financial Development in the CIS-7 Countries: Bridging the Great Divide
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 underde...
Gespeichert in:
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2003
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| Schriftenreihe: | IMF Working Papers
Working Paper No. 03/205 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | 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 |
| Beschreibung: | 1 Online-Ressource (20 p) |
| ISBN: | 145187457X 9781451874570 |
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| index_date | 2024-07-03T20:13:29Z |
| indexdate | 2024-07-10T09:35:38Z |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | De Nicoló, Gianni Verfasser aut Financial Development in the CIS-7 Countries Bridging the Great Divide De Nicoló, Gianni Washington, D.C International Monetary Fund 2003 1 Online-Ressource (20 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 03/205 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 Online-Ausg Geadah, Sami Sonstige oth Rozhkov, Dmitriy Sonstige oth http://elibrary.imf.org/view/IMF001/02336-9781451874570/02336-9781451874570/02336-9781451874570.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | De Nicoló, Gianni Financial Development in the CIS-7 Countries Bridging the Great Divide |
| title | Financial Development in the CIS-7 Countries Bridging the Great Divide |
| title_auth | Financial Development in the CIS-7 Countries Bridging the Great Divide |
| title_exact_search | Financial Development in the CIS-7 Countries Bridging the Great Divide |
| title_exact_search_txtP | Financial Development in the CIS-7 Countries Bridging the Great Divide |
| title_full | Financial Development in the CIS-7 Countries Bridging the Great Divide De Nicoló, Gianni |
| title_fullStr | Financial Development in the CIS-7 Countries Bridging the Great Divide De Nicoló, Gianni |
| title_full_unstemmed | Financial Development in the CIS-7 Countries Bridging the Great Divide De Nicoló, Gianni |
| title_short | Financial Development in the CIS-7 Countries |
| title_sort | financial development in the cis 7 countries bridging the great divide |
| title_sub | Bridging the Great Divide |
| url | http://elibrary.imf.org/view/IMF001/02336-9781451874570/02336-9781451874570/02336-9781451874570.xml |
| work_keys_str_mv | AT denicologianni financialdevelopmentinthecis7countriesbridgingthegreatdivide AT geadahsami financialdevelopmentinthecis7countriesbridgingthegreatdivide AT rozhkovdmitriy financialdevelopmentinthecis7countriesbridgingthegreatdivide |