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The Financial Reform in Finland

This paper examines the evolution of the Finnish financial system from a restrictive system based on credit limitations and rationing to an open system which relies on indirect, market-oriented policies. The main beneficiaries are found to be the banks and those that previously had restricted access...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1988
Series:IMF Working Papers
Subjects:
Money Market
Depository Institutions
Interest Rates
Credit
Banks
Finance
Banks And Banking
Industries: Financial Services
Monetary Economics
Financial Institutions
Financial Services
Monetary Policy, Central Banking, And The Supply Of Money And Credit: General
Micro Finance Institutions
General Financial Markets: General (includes Measurement And Data)
Mortgages
Money
Deposit Rates
Financial Markets
Loans
Money Markets
Bank Credit
Banking
Interest Rates: Determination, Term Structure, And Effects
Money And Monetary Policy
Finance: General
Finland
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper examines the evolution of the Finnish financial system from a restrictive system based on credit limitations and rationing to an open system which relies on indirect, market-oriented policies. The main beneficiaries are found to be the banks and those that previously had restricted access to bank credit. Two major remaining problems are the anti-savings biases associated with the generous tax treatment of household interest payments and the cartel-like system used in providing tax-free deposits to households. The paper also challenges the argument that the reform caused a loss of monetary autonomy
Physical Description:38 pages
ISBN:9781451952148

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