Financial Reforms : Benefits and Costs

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dc.contributor.authorLee, Jisoon-
dc.identifier.citationSeoul Journal of Economics 19 (No. 4 2006): 343-380en
dc.description.abstractUsing financial reforms as example, we demonstrate that reform measures should be undertaken only when they have substantial net expected benefits. In most cases, financial reform measures entail substantial upfront fixed costs in return for a steady flow of benefits over a long period of time. The benefits tend to become larger in tandem with the volume of financial transactions. Because of these, it would be easier for wealthier countries to undertake financial reforms: They can afford expensive but better systems. However, poor countries cannot do so easily, because they lack sufficient resources. Consequently poor countries would better take more gradual and pragmatic approaches to financial reforms.-
dc.publisherSeoul Journal of Economicsen
dc.subjectFinancial reformsen
dc.subjecteconomic growthen
dc.subjectStage-dependent reformsen
dc.subjectEvolutionary reform processesen
dc.titleFinancial Reforms : Benefits and Costsen
dc.typeSNU Journalen
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.19(4) (Winter 2006)
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