Abstract
An OED study, Financial Sector Reform : A Review of World Bank Assistance, March 1998 by Nicolas Mathieu, endorses an emerging wisdom -sectoral reform is a long, complex process that requires a sustained commitment by the Bank. As the Asian crisis continues to unfold, the Bank needs to acquire a deeper understanding of the dynamics of sectoral reform. The track record suggests, in fact, that financial reform has fallen on hard times-both across countries and at the Bank. The study found, for example, that in only 12 of 23 sample countries can the outcomes of financial sector policy and/or institutional reform be deemed satisfactory
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