There are visible signs that the global financial crisis is affecting economic growth and poverty reduction in Bulgaria. After a period of strong economic growth through 2008, Gross Domestic Product (GDP) in 2009 is projected to shrink by 3.5 percent due to the crisis, with important...

The overall impact of financial globalization on the domestic financial sector is profound. Liberalization of capital flows has effectively made domestic financial repression obsolete. The consequences have not been uniformly favorable. Following liberalization, domestic interest rates in...

Cover -- Contents -- Foreword -- Acknowledgments -- Abbreviations and Glossary -- Overview -- 1 Conceptual Framework, Stylized Facts, and the Role of the Government -- 2 The Use of Long-Term Finance by Firms and Households: Determinants and Impact -- 3 The Use of Markets for Long-Term Finance --...