Experiences with Financial Liberalization provides a broad spectrum of policy experiences relating to financial liberalization around the globe since the 1960s. There is a sizable body of theoretical and aggregative empirical literature in this area, but there is little work documenting and analyzing the experiences of individual countries and/or sets of countries. This book is divided into four parts by geographical region - Africa, Asia and Latin America, Central and Eastern Europe, and the Middle East. Aggregative econometric studies cannot substitute for country-wide studies in allowing the researcher to draw lessons for the future, and this volume adds to this relatively small body of literature.

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Introduction. I: The African Experience. 1. From Financial Repression to Liberalisation: The Senegalese Experience; J.-C. Berthélemy. 2. Financial Repression and Seigniorage in Ghana; E. Asem, K.L. Gupta. II: The Asian and Latin American Experience. 3. Financial Deregulation in Australia: A Success Story? P.J. Drake. 4. Interest Rate Liberalization and Monetary Control in China; M.J. Fry. 5. Financial Reform, Institutions and Macroeconomic Adjustment: The Destabilizing Effects of Financial Liberalization in the Philippines, 1970-92; R. Vos. 6. Financial Liberalization and Stabilization Policies: The Experience of Chile; K. Phylaktis. III: The Central and East European Experience. 7. Rubles, Rubles, Everywhere... Cash Shortages and Financial Repression in the Economies of the Former Soviet Union; P. Conway. 8. Financial Systems in Transition: The Role of Banks in Corporate Governance; I. Grosfeld. 9. Financial Reforms and Commercial Bank Behavior in Poland; K.L. Gupta, R. Lensink. IV. The Middle-East Experience. 10. Financial Liberalization Under External Debt Constraints: The Case of Turkey; N.K. Ekinci. Contributing Authors.