The case study on the U.S. TreasuryDirect examines the evolution of the electronic distribution systems for marketable and nonmarketable government securities, the main objectives, and the basic legal infrastructure and the preconditions enabling the system. The U.S. experience highlights that...

This paper builds on a previous series of papers (see Claessens, Glaessner, and Klingebiel, 2001, 2002) that identified electronic security as a key component to the delivery of electronic finance benefits. This paper and its technical annexes identify and discuss seven key pillars necessary to...

Asian countries should consider the benefits of opening their financial service sectors more quickly - at the same time that they are liberalizing capital accounts and deregulating domestic financial markets. The internationalization of financial services - eliminating discrimination between the...

The paper analyzes the provision of electronic financial services in countries, the impact of e-finance on the financial systems, and the leapfrogging opportunities for emerging markets. The authors address new policy issues and the role of government intervention in the light of these...

In recent years, the emergence of electronic finance - especially online banking and brokerage services, and new trading systems - has reshaped the financial landscape around the world. This paper reviews these developments and finds that they are greatly impacting the structure of and...

Because financial services are highly dependent on technology and well-suited to remote delivery, technological advances and the advent of the Internet are causing dramatic changes in the industry. This revolution could accelerate financial sector development by lowering the costs, increasing...

The prospect of European integration presents huge opportunities and challenges for the development of non-bank financial institutions (NBFIs) in Ukraine. By most measures, the development of the NBFI sector in Ukraine lags far behind that of recent accession countries in Central Europe. To...

Economists have come to acknowledge that finance matters for development more, and in more ways than had been recognized for a long time. Changes in the financial services industry are providing immense possibilities for economic development. Grais and Kantur present a framework to help...

This study reviews the recent developments in capital markets and institutional investors in Russia, and examines the policy challenges ahead for the development of the sector. The analysis covers key impediments for further development and policy challenges for securities markets, in particular...

The internationalization of financial services -- eliminating discrimination between the treatment of foreign and domestic providers of financial services and removing barriers to the cross-border provision of financial services -- is of global interest, especially in Asia. Most of Asia limits...