Among the lessons financial history offers: Macroeconomic stability - low inflation and sound public finance - is important for creating the right incentives for banks and for facilitating the development of securities markets. High inflation and large fiscal deficits distort economic behavior in favor of short-term speculative projects conducive to sustainable economic development. Central bank independence may contribute to economic stability. One...
انظر المزيد
تفاصيل
-
1995/11/30
-
ورقة عمل خاصة ببحوث السياسات
-
WPS1535
-
1
-
1
-
2010/7/01
-
Financial history : lessons of the past for reformers of the present
-
Finance & Private Sector Development