000			02479cam a22003254a 4500
001			5773
003			The World Bank
006			m d
007			cr cn|||||||||
008			020129s2011 dcu i001 0 eng
024	8		_a10.1596/1813-9450-5773
035			_a(The World Bank)5773
100	1		_aSchinasi, Garry
245	1	0	_aFinancial-Stability Challenges in European Emerging-Market Countries _h[electronic resource] / _cSchinasi, Garry
260			_aWashington, D.C., _bThe World Bank, _c2011
300			_a1 online resource (59 p.)
520	3		_aThis paper examines the financial-stability challenges that will most likely be faced by European emerging-market countries in adapting to the post-crises environment, including the new financial-stability architecture and the other remaining weaknesses revealed by the global and European crises. The paper first reviews the pre-crisis financial-stability architectures in Europe and across the globe and then identifies the key weaknesses revealed by the global crisis. It then describes the micro and macro-prudential components of the new European System of Financial Supervision and some of its design limitations (and only briefly mentions reforms designed to deal with sovereign debt problems). The paper then identifies ten key areas where there are remaining challenges of implementation and additional reforms: six areas pertaining to all countries in Europe as well as the other major financial centers and four areas more germane to emerging-market countries in Europe. In discussing these ten areas, the paper tries to differentiate the relative challenges faced by categories of emerging-market countries, and their possible links to the excessive build-up of vulnerabilities in the pre-crisis period as a potential source of lessons for policy going forward.
650		4	_aBanks & Banking Reform
650		4	_aCurrencies and Exchange Rates
650		4	_aDebt Markets
650		4	_aEmerging Markets
650		4	_aFinance and Financial Sector Development
650		4	_aFinancial Intermediation
650		4	_aFinancial regulation
650		4	_aFinancial stability
700	1		_aSchinasi, Garry
776	1	8	_aPrint version: _iSchinasi, Garry. _tFinancial-Stability Challenges in European Emerging-Market Countries. _dWashington, D.C., The World Bank, 2011
830		0	_aPolicy research working papers.
830		0	_aWorld Bank e-Library.
856	4	0	_uhttp://elibrary.worldbank.org/doi/book/10.1596/1813-9450-5773
999			_c24271 _d24271