Synopses & Reviews
This book provides a multifaceted approach to understanding the origin, nature, and resolution of the banking crisis in Nigeria. Unlike studies that focus only on technical criteria, the contributors examine theoretical, empirical, institutional, political economy, and policy dimensions. Moreover, unlike case studies that focus on a single country, the volume compares liberalization in Nigeria to other regions, demonstrating links to the financial crises in Asia, Latin America, and elsewhere. They emphasize the importance of understanding financial liberalization in its broader embedded context and the need to tailor financial reform to the conditions and capacities of specific developing and transitional countries including Nigeria.
About the Author
Howard Stein is Professor of Economics, Roosevelt University, Chicago.
Olu Ajakaiye is Professor of Development Economics, the Nigerian Institute for Social and Economic Research.
Peter Lewis is Associate Professor, the School of International Service, The American University.
Table of Contents
Financial Deregulation and Banking Crises: An Introduction to Theoretical, Institutional and Policy Issues--Howard Stein, Olu Ajakaiye & Peter Lewis *
Part I * The Political Economy of Financial Liberalization in Nigeria--Peter Lewis & Howard Stein * The Nigerian Banking System in a Historical Perspective--K.S. Adeyemi * Process of Restructuring and Distress Resolution in the Nigerian Banking Industry--S.O. Alashi * Banking Sector Reforms and Economic Performance Nigeria--D. Olu Akjakaiye * Institutional Aspects of Regulatory Reforms in the Nigerian Banking Industry--Adedoyin Soyibo *
Part II * African Experiences with Financial Sector Reforms: What has been achieved so far?--Machiko Nissanke * A Chronicle of a Latin American Country Financial Crash: The Case of Venezuela--Leonardo Vera * Klepto-Banking: Systemic Sources of Russia's Failed Industrial Recovery--Steven Rosefielde * Interpreting the Korean Crisis: Financial Liberalization, Industrial Policy, and Corporate Governance--Ha-Joon Chang, Hong-Jae Park, & Chul Gyue Yoo * The Nigerian Banking Crisis and Japanese Financial Development: In Search of Lessons--Howard Stein