Dilemmas of financial development in Kazakstan

Yelena Kalyuzhnova and George Tridimas
Additional contact information
Yelena Kalyuzhnova: Centre for Euro-Asian Studies, The University of Reading, UK, Postal: Centre for Euro-Asian Studies, The University of Reading, UK
George Tridimas: Department of Economics, The University of Reading, UK, Postal: Department of Economics, The University of Reading, UK

Journal of International Development, 1998, vol. 10, issue 5, 681-693

Abstract: The study reviews the experience of Kazakstan with financial reform. After establishing a two-tier banking system with the National Bank of Kazakstan as the central monetary authority, banks were separated between deposit taking institutions and investment banks. The priorities of the monetary authority have been the introduction of the tenge as the new national currency, the design of the appropriate techniques of monetary control and the pursuit of price stabilization. The problems facing the reform of commercial banks relate to their specialization by sector of economic activity, high concentration, lack of expertise in risk assessment, the incidence of bad loans, the establishment of a clear legal, accounting and regulatory framework, and the development of fully functioning securities markets. © 1998 John Wiley & Sons, Ltd.

Date: 1998
References: View references in EconPapers View complete reference list from CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wly:jintdv:v:10:y:1998:i:5:p:681-693

DOI: 10.1002/(SICI)1099-1328(199807/08)10:5<681::AID-JID510>3.0.CO;2-S

Access Statistics for this article

Journal of International Development is currently edited by Paul Mosley and Hazel Johnson

More articles in Journal of International Development from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley Content Delivery ().