Overview
The book provides a multifaceted approach to understanding the origin, nature and resolution of the banking crisis in Nigeria. Unlike studies that focus only on technical criteria, the contributors examine theoretical, empirical, institutional, political economy and policy dimensions. Moreover, unlike case studies that focus on a single country, the volume compares liberalization in Nigeria to other regions demonstrating links to the financial crisis in Asia, Latin America and elsewhere. They emphasize the importance of understanding financial liberalization in its broader embedded context and the need to tailor financial reform to the conditions and capacities of specific developing and transitional countries including Nigeria.
Full Product Details
Author: H. Stein ,
O. Ajakaiye ,
P. Lewis
Publisher: Palgrave Macmillan
Imprint: Palgrave Macmillan
Edition: 1st ed. 2002
Weight: 0.454kg
ISBN: 9781349650835
ISBN 10: 1349650838
Pages: 270
Publication Date: 07 November 2001
Audience:
Professional and scholarly
,
Professional & Vocational
Format: Paperback
Publisher's Status: Active
Availability: Manufactured on demand
We will order this item for you from a manufactured on demand supplier.
Reviews
'Stein, Ajakaiye, and Lewis...convincingly demonstrate the weakness of the McKinnon-Shaw financial repression hypothesis...[They] reveal that the insistence by the International Monetary Fund and World Bank on orthodox financial liberalization has contributed to reductions in real financial savings, real lending to the private sector, and investment in Nigeria and other African countries...The policy implications of this thorough study are an emphasis on building financial institutions and regulating and supervising banks, and a rejection of financial price deregulation and an America-style arms-length system of banking in developing countries.' - Professor E. Wayne Nafziger, Department of Economics, Kansas State University '...provides a welcome and timely addition to the literature on financial liberalization...The book concentrates on the dangers of deregulation in Nigeria with clear implications to the rest of Africa. In doing so it also draws on the experience of other countries such as Venezuela, Russia and Korea...[A]n extremely original work with important contributions to theoretical, institutional and policy issues related to the question of financial liberalization and its alternatives in developing countries.' - Philip Arestis, Professor of Economics, South Bank University, London
'Stein, Ajakaiye, and Lewis...convincingly demonstrate the weakness of the McKinnon-Shaw financial repression hypothesis...[They] reveal that the insistence by the International Monetary Fund and World Bank on orthodox financial liberalization has contributed to reductions in real financial savings, real lending to the private sector, and investment in Nigeria and other African countries...The policy implications of this thorough study are an emphasis on building financial institutions and regulating and supervising banks, and a rejection of financial price deregulation and an America-style arms-length system of banking in developing countries.' - Professor E. Wayne Nafziger, Department of Economics, Kansas State University '...provides a welcome and timely addition to the literature on financial liberalization...The book concentrates on the dangers of deregulation in Nigeria with clear implications to the rest of Africa. In doing so it also draws on the experience of other countries such as Venezuela, Russia and Korea...[A]n extremely original work with important contributions to theoretical, institutional and policy issues related to the question of financial liberalization and its alternatives in developing countries.' - Philip Arestis, Professor of Economics, South Bank University, London
'Stein, Ajakaiye, and Lewis...convincingly demonstrate the weakness of the McKinnon-Shaw financial repression hypothesis...[They] reveal that the insistence by the International Monetary Fund and World Bank on orthodox financial liberalization has contributed to reductions in real financial savings, real lending to the private sector, and investment in Nigeria and other African countries...The policy implications of this thorough study are an emphasis on building financial institutions and regulating and supervising banks, and a rejection of financial price deregulation and an America-style arms-length system of banking in developing countries.' - Professor E. Wayne Nafziger, Department of Economics, Kansas State University '...provides a welcome and timely addition to the literature on financial liberalization...The book concentrates on the dangers of deregulation in Nigeria with clear implications to the rest of Africa. In doing so it also draws on the experience of other countries such as Venezuela, Russia and Korea...[A]n extremely original work with important contributions to theoretical, institutional and policy issues related to the question of financial liberalization and its alternatives in developing countries.' - Philip Arestis, Professor of Economics, South Bank University, London
Author Information
K.S. ADEYEMI Assistant General Manager, Union Bank of Nigeria Plc S.O. ALASHI Director, Nigerian Deposit Insurance Corporation HA-JOON CHANG Lecturer, Faculty of Economics and Politics, University of Cambridge MACHIKO NISSANKE Senior Lecturer, School of Oriental and African Studies, University of London HONG-JAE PARK Hyundai Motors, Korea STEVEN ROSEFIELDE Professor of Economics, University of North Carolina, Chapel Hill ADEDOYIN SOYIBO Professor of Economics, University of Ibadan LEONARDO VERA Assistant Professor of Macroeconomics, Central University, Venezuela CHUL-GYUE YOO Professor, Seong Gong Hoe University, Seoul, Korea.
