Hungary is entering the fourth year of a multi-pillar pension reform that has proved popular among workers despite initially lukewarm support from the government that succeeded the reforming government...
The authors provide a detailed study of the Swiss pension system, analyzing its strengths and weaknesses. The unfunded public pillar is highly redistributive. It has near universal coverage, a low dispersion...
Current issues in banking policy range from the need to construct basic institutions and incentive structures in transition economies, to the challenges posed by the increasingly complex interactions involved...
Directed credit programs were a major tool of development in the 1960s and 1970s. In the 1980s, their usefulness was reconsidered. Experience in most countries showed that they stimulated capital-intensive...
Social pension systems in most countries in Eastern Europe and the former Soviet Union face severe financial pressure. Aging populations are increasing that pressure, which stems mainly from in thesign...
The authors state the Japanese government's role in creating a macroeconomic and financial environment conducive to rapid industrialization went beyond maintaining price stability. The government created...
Social pension systems in most countries in Eastern Europe and the former Soviet Union face severe financial pressure. The authors describe the features of the pension systems that have led to the current...
Banking reform started much earlier in Hungary than in other socialist countries and Hungary now has by far the most advanced system among transitional socialist economies. The authors discuss recent trends...
Many developing countries, especially in Latin America and Eastern Europe, have unfunded pay-as-you-go public pension systems that face growing financial pressures. These emanate from a weak link between...
This paper is a brief history of financial regulation. The removal and relaxation of controls on credit and interest rates in the 1980s and the growing emphasis on prudential controls is highlighted. Three...