Public Financial Institutions in Developed Countries

Public Financial Institutions in Developed Countries—Organization and Oversight

September 1, 2007

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Lev Ratnovski, and Aditya Narain. Public Financial Institutions in Developed Countries—Organization and Oversight, (USA: International Monetary Fund, 2007) accessed December 22, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

While public financial institutions (such as public development banks) are commonly associated with developing countries, in fact they are prevalent in the developed world as well. We study a sample of public financial institutions in industrialized countries and identify dominant trends in their organization and oversight. While practices in developed countries may be a useful reference point, a more nuanced approach, accounting for the disparity of institutional environment, regulatory capacity, and government accountability and effectiveness, may be required in developing countries. Further investment in the accumulation of evidence and formulation of best practices in the organization and oversight of public financial institutions seems warranted and necessary. This paper was prepared while Mr. Ratnovski was working in the Financial Supervision and Regulation Division during January-April 2006. The authors are grateful to Jonathan Fiechter, David Marston, and participants of an MCM seminar in April 2006 for their helpful comments.

Subject: Credit, Financial instruments, Financial regulation and supervision, Financial services, Housing

Keywords: Bankruptcy procedure, Financial market, Interest rate, Ownership structure, Private bank, Public financial institutions, WP

Publication Details

Pages:

28
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2007/227
Stock No:

WPIEA2007227
ISBN:

9781451867916
ISSN:

1018-5941

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