01830cas a2200253 a 4500 AALejournalIMF008792 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451849653 1018-5941 BD-DhAAL BD-DhAAL Spencer, Michael. The Role of Financial Institutions in the Transition to a Market Economy / Michael Spencer, H. Blommestein. Washington, D.C. : International Monetary Fund, 1993. 1 online resource (50 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Financial institutions intermediate between savers and investors and contribute to corporate governance. Equity and bond markets in the former centrally planned economies are not yet in a position adequately to provide these services. It is not yet clear that investment funds will provide the necessary financing and corporate management. Therefore the first priority for financial sector reforms must be to establish a healthy commercial banking sector. Banks are the most promising source of financing, provide payment services which are crucial to both the real and financial sectors and, by monitoring the use of loaned funds, will be the primary source of corporate governance during the transformation to a market economy. Mode of access: Internet Blommestein, H. IMF Working Papers; Working Paper ; No. 1993/075 Full text available on IMF http://elibrary.imf.org/view/journals/001/1993/075/001.1993.issue-075-en.xml IMF e-Library