The Development of Non-bank Financial Institutions in Ukraine: Policy Reform Strategy and Action Plan

Michel Noel, Zeynep Kantur, Angela Prigozhina, Sue Rutledge, Olena Fursova and Michel Noel

No 7036 in World Bank Publications - Books from The World Bank Group

Abstract: The prospect of European integration presents huge opportunities and challenges for the development of non-bank financial institutions (NBFIs) in Ukraine. By most measures, the development of the NBFI sector in Ukraine lags far behind that of recent accession countries in Central Europe. To address the main impediments facing the development of the sector, the Ukrainian authorities need to implement a strategy based on six main pillars: 1) strengthen the capacity, independence, funding, and accountability of the NBFI regulators; 2) develop money markets, government bond markets, and municipal bond markets; 3) restructure equity markets; 4) accelerate the introduction of funded pension schemes, and, improve transparency and consumer protection in the insurance industry; 5) radically transform corporate governance; and, 6) broaden access of NBFI finance.

Keywords: Finance; and; Financial; Sector; Development-Non; Bank; Financial; Institutions; Economic; Theory; and; Research; Banks; and; Banking; Reform; Finance; and; Financial; Sector; Development-Financial; Intermediation; Law; and; Development-Corporate; Law; Macroeconomics; and; Economic; Growth (search for similar items in EconPapers)
Date: 2006
ISBN: 978-0-8213-6678-3
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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