By John Williamson
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Extra resources for A Survey of Financial Liberalization (Essays in International Economics)
The ratio jumped to 46% by 1995. Growth of privatesector credit far outweighed growth of deposits after initial liberalization (1981-83). Bank credit to the private sector fell sharply in 1983. Singapore Manufacturing Professionals and and general private individuals. commerce. ) M2/GDP grew rapidly over 1978-95, increasing from 58% to 83%. Determined by world interest rates since late 1970s. Taiwan Public enterprises M2/GDP rose by 230% from 1985 to Bank-deposit and Fraud resulted in lending rates rose in runs at two deposit- Individuals and government Somewhat improved.
M2/GDP under the new definition grew Econometric evidence that financial liberalization contributed to the British consumption boom in the late 1980s presented in three re- Monetary Control Short-term lending rates exceeded longterm rates over 1989-91. Home loan rates dropped fifty basis points following deregulation in 1994, and a wider variety of loans a emerged. Crisis, 1992 to present. All types of financial institutions affected. Over $6 billion spent on bailout of Jusen in 1996. 3% of total loans from April to September 1997.
In 1996, New Zealand moved away from traditional prudential supervision to a market-based system under which bank directors are responsible for monitoring and controlling risk and then disclosing comprehensive financial data to the public each quarter. Sixteen countries in the panel (Italy and Korea did not change their regulatory systems much over the period) waited at least two years after liberalization had begun before starting to improve prudential regulation and supervision; in most of these cases, the push for regulatory reform came after the effects of the first wave of reforms could be felt.