1. The Policy Framework. Financial Systems. Financial Institutions. The Role of Non-Bank Financial Institutions -- 2. The Principles of Regulation. Regulatory Objectives. Regulatory Structure. Regulatory Backing. Regulatory Implementation -- 3. Insurance (Risk-Pooling) Companies. The Market for Insurance. Factors Affecting the Growth of Insurance. The Contribution of Insurance to Economic Growth. Regulating Insurance Companies -- 4. Contractual Savings Institutions. The Market for Contractual Savings. A Note on Pension Fund Growth. Factors Affecting the Growth of Contractual Savings Institutions. The Contribution of Contractual Savings Institutions to Economic Growth. The Appropriate Form of Regulation. Regulatory Tools and Techniques for Collective Investments. Surveillance. Special Issues in Pension Reform in Emerging Markets -- 5. Securities Markets. The Market for Securities: The Growth of Emerging Markets. Factors Affecting the Growth of Securities Markets. Contribution of Securities Markets to Economic Growth and Stability. Regulating Securities Markets. The Policy Agenda: Second-Generation Challenges for Emerging Markets -- 6. Specialized Financial Institutions. Leasing Finance. Real Estate Finance. A Note on Financial Cooperatives. Factors Affecting the Growth of Specialized Financial Institutions. The Contribution of Specialized Financial Institutions to Economic Growth. The Appropriate Form of Regulation. Regulatory Tools and Techniques -- 7. Issues for Emerging Markets. The Importance of Legal Infrastructure. Critical Financial Sector Skills and Professions. Incentives for the Growth of NBFIs. The Role of Foreign Competition. The Role of Government Provision of Nonbank Financial Services. The Importance of Public Sector Governance. The Importance of Sequencing Reforms
Bibliography
Includes bibliographical references (pages 225-230)
Notes
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