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Outside Canada: Macmillan Press Ltd, Houndmills, Basingstoke, HampshireRG21 6XS, UK.

For the large number of developing countries undergoing significant structural transformations, one of the most important and controversial adjustment areas is that of financial markets. The consequences of poorly functioning or troubled financial sectors (on financial institutions, depositors, resource allocation, and ultimately, growth and development) are significant and well known. It is also now understood that financial liberalization is not an "event" but rather a process. However, there is little consensus as to when to liberalize financial markets or how it should be done.

Financial Reform in Developing Countries focuses on the role of the institutional and enabling environments within which financial reform occurs, and the integration of principles of finance with more macroeconomic approaches to the subject. The book presents case studies of reform experiences in Argentina, India, Nigeria, Turkey, and Uruguay, as well as thematic papers on the following topics:

• The "go slow" versus "big bang" approach;
• The "tequila" effect and financial reform at the supranational level;
• Implications of the Canadian experience for developing countries;
• Links between banks and firms during reform in Eastern Europe; and
• A perspective from finance theory.

THE EDITORS

José M. Fanelli is Senior Professor of Macroeconomics and Director of the Economics Department at the University of Buenos Aires, Director of the Argentina's graduate program to train government economists, and Senior Researcher at the Centre for the Study of State and Society (CEDES) and the National Research Council (CONICET) in Buenos Aires.

Rohinton Medhora is Senior Specialist (Economics) at the International Development Research Centre (IDRC) in Ottawa, Canada, where he leads IDRC's research program on trade, employment, and competitiveness.

Book(s) 128 of 193