Development of Non-bank Financial Institutions and Capital Markets in European Union Accession Countries
Development of Non-bank Financial Institutions and Capital Markets in European Union Accession Countries

Author: Marie-Renée Bakker

Publisher: World Bank Publications

Published: 2004

Total Pages: 60

ISBN-13:

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This study examines the role of non-bank financial institutions and capital markets in the financial sectors of the eight EU accession countries: Poland, Hungary, the Czech Republic, Slovakia, Estonia, Latvia, Lithuania and Slovenia. It assesses the current state of development and prospects for future growth, and the likely impact of EU accession on these segments of the financial system. It also sets out a series of policy recommendations to help promote the future development of non-bank forms of financial intermediation.

Financial Access and Stability
Financial Access and Stability

Author: The World Bank

Publisher: World Bank Publications

Published: 2011-09-21

Total Pages: 370

ISBN-13: 0821388568

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The countries of the Middle East and North Africa (MENA) have been recovering from the global financial crisis, but the recent political turmoil has interrupted the pace of credit and output recovery in many countries. The political turmoil in the MENA region reveals deep-seated frustrations and a sense of political, social, and economic exclusion, especially among the youth. The relatively weak growth performance reflects a combination of insufficient reforms and weak reform implementation, including financial sector reforms. The structural weaknesses of financial sectors imply that access to finance may remain restricted even with a full recovery of credit activity. Therefore, the region s countries face an ambitious reform agenda to revert two decades of relatively poor performance of output and employment growth. Financial development should be a central component of the region s growth agenda. This study reviews the region s financial systems, the severity of the limitations on access to finance, and the main factors behind such limitations. It goes on to provide a road map for expanding access and preserving financial stability.

Emerging Capital Markets and Globalization
Emerging Capital Markets and Globalization

Author: Augusto de la Torre

Publisher: World Bank Publications

Published: 2006-10-20

Total Pages: 232

ISBN-13: 0821365444

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Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.

Nonperforming Loans in Asia and Europe—Causes, Impacts, and Resolution Strategies
Nonperforming Loans in Asia and Europe—Causes, Impacts, and Resolution Strategies

Author: Asian Development Bank

Publisher: Asian Development Bank

Published: 2021-12-01

Total Pages: 262

ISBN-13: 9292691163

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High and persistent levels of nonperforming loans (NPLs) have featured prominently in recent financial crises. This book traces NPL trends during and after crises, examines the economic impact of high NPLs, and compares the effectiveness of NPL resolution strategies across economies in Asia and Europe. The book distills important lessons from the experiences of economies using case studies and empirical investigation of ways to resolve NPLs. These findings can be invaluable in charting a course through the financial and economic fallout of the coronavirus disease (COVID-19) pandemic to recovery and sustained financial stability in Asia, Europe, and beyond.

The Development of Non-bank Financial Institutions in Ukraine
The Development of Non-bank Financial Institutions in Ukraine

Author:

Publisher: World Bank Publications

Published: 2006

Total Pages: 140

ISBN-13: 0821366793

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The prospect of European integration presents huge opportunities and challenges for the development of non-bank financial institutions (NBFIs) in Ukraine. By most measures, the development of the NBFI sector in Ukraine lags far behind that of recent accession countries in Central Europe. To address the main impediments facing the development of the sector, the Ukrainian authorities need to implement a strategy based on six main pillars: 1) strengthen the capacity, independence, funding, and accountability of the NBFI regulators; 2) develop money markets, government bond markets, and municipal bond markets; 3) restructure equity markets; 4) accelerate the introduction of funded pension schemes, and improve transparency and consumer protection in the insurance industry; 5) radically transform corporate governance; and 6) broaden access of NBFI finance.