The Financial Infrastructure Required to Support Economies in Transition

AbstractThe following sections are included:IntroductionRole of the Financial Infrastructure in the Transition ProcessPrincipal Component Institutions of the Financial InfrastructureThe Relative Importance of Commercial Banks and Stock Exchanges in the Transition ProcessPublic Policy Recommendations and QualificationsRecommendations on Improving the Financial InfrastructureRecommendations on Reform of the Banking SystemRecommendations Aimed at Creating Effective Secondary Security Trading MarketsQualification as to the Limitations of Economically Based RecommendationsA Final Caveat: Real and Financial Sectors and Differential Speeds of AdjustmentReferences