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.

I The African Experience.- 1 From Financial Repression to Liberalization: The Senegalese Experience.- 2 Financial Repression and Seigniorage in Ghana.- II The Asian and Latin American Experience.- 3 Financial Deregulation in Australia: A Success Story.- 4 Interest-Rate Liberalization and Monetary Control in China.- 5 Financial Reform, Institutions, and Macroeconomic Adjustment: The Destabilizing Effects of Financial Liberalization in the Philippines, 1970 to 1992.- 6 Financial Liberalization and Stabilization Policies: The Experience of Chile.- III The Central and East European Experience.- 7 Rubles, Rubles, Everywhere ... Cash Shortages and Financial Repression in the Economies of the Former Soviet Union.- 8 Financial Systems in Transition: The Role of Banks in Corporate Governance.- 9 Financial Reforms and Commercial Bank Behavior in Poland.- IV The Middle East Experience.- 10 Financial Liberalization Under External Debt Constraints: The Case of Turkey.