Financial measures to be adopted to strengthen financial structure
International co-operation efforts are focused on the need to reduce financial instability and systemic risks in global financial markets. Work is underway on three different areas: improving the transparency of financial markets, improving international financial structure, and strengthening financial systems. Strengthening financial systems (the focus of this paper) means working together to promote sound financial policies and practices through the development of effective financial systems and market regulation. Transformation of the financial sector and development is more than just setting rules, setting standards, regulating law, and building new institutions. Everything is important but ultimately the code of conduct must be changed if there is to be a meaningful and lasting financial transformation. For that reason, this paper emphasizes the role of incentives to promote positive behavior. Developing countries have made significant progress in advanced financial regulation over the past few years. Transforming the financial sector is a long and complex process of institutional building and renewal incentives, the success of which requires full ownership, and participation, in the public process and its government.
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- Financial claims.
- Financial institutions.
- Financial Markets.
- Government agency.