000			02543cam a22003137a 4500
005			20251006100329.0
020			_a9780195216059 _cTZS 10,000/=
040			_aMCCL _beng. _eAACR 2nd rev. ed.
082			_a332.042091724 FIN
100	1		_aCaprio, Gerard.
245	0	0	_aFinance for growth : _bpolicy choices in a volatile world _c/ Gerard Caprio and Patrick Honohan
260			_aOxford, New York: _bOxford University Press, _cc2001.
300			_axv, 211, [1] p. : _bill. ; _c24 cm.
440		0	_aWorld Bank policy research report
500			_aWritten by Gerard Caprio and Patrick Honohan (p. xiii).
504			_aIncludes bibliographical references (p. 197-[212]).
520			_aThe overall impact of financial globalization on the domestic financial sector is profound. Liberalization of capital flows has effectively made domestic financial repression obsolete. The consequences have not been uniformly favorable. Following liberalization, domestic interest rates in developing countries have moved to a premium over industrial country rates, and can surge at times of currency speculation. Heightened interest rate and exchange rate volatility pose practical risk management difficulties for financial intermediaries and reinforce the need for appropriate infrastructures and incentives for risk containment, as well as for good macropolicies. On the other hand, the cost of equity capital has been reduced by allowing foreign investor access to local equity markets and allowing local firms to list abroad. Increased international flows through the equity markets have not been the major contributor to increased international sources of volatility. In addition to opening access to foreign-sourced financial services, more and more countries have been permitting foreign-owned banks and other financial firms to operate locally. Although this can represent a threat to domestic owners of financial firms, the drawback is outweighed by improved service quality. On all three fronts--debt, equity, and services--the costs and risks as well as the benefits of increased financial globalization. knowledges
546			_aeng
650		0	_aEconomic development
650		0	_aFinance.
650		0	_aEconomic policy.
650		0	_aFinance, Public.
650		0	_aFinancial institutions.
650		0	_aExpenditures, Public.
700	1		_aHonohan, Patrick.
856	4	1	_uhttp://www.loc.gov/catdir/enhancements/fy0611/2001336719-t.html
856	4	2	_uhttp://www.loc.gov/catdir/enhancements/fy0611/2001336719-d.html
942			_cBK
999			_c12012 _d12012