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Omori, Sawa (2008) ORIGINS OF FINANCIAL REFORMS IN DEVELOPING COUNTRIES. Doctoral Dissertation, University of Pittsburgh. (Unpublished)

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This dissertation aims to explore political determinants of the magnitude and the pace of six dimensions of financial reforms in developing countries. The magnitude of financial reforms refers to the degree a country engages in a larger scale of financial reforms at one time, while the pace of financial reforms refers to the degree to which a country speeds up financial reforms. I argue that the IMF conditionality programs play a role in facilitating a larger magnitude of financial reforms and in speeding up the pace of each of the six dimensions of financial reforms. However, these IMF effects are conditioned by the number of veto players; namely, as the number of veto players increases, these IMF effects tend to decrease. Further, I predict that the stronger the influence of the manufacturing sector in a country, the larger the magnitude of financial reforms and also the quicker the pace of financial reforms for most dimensions, with the dimension of the enhancement of banking supervision as an exception. Also, countries with a stronger influence of the banking sector tend to choose a smaller scale of financial reforms at one time and tend to delay financial reforms. These arguments were examined both quantitatively and qualitatively. Quantitatively, using the Financial Reform Database developed by the IMF, I examined thirty developing countries' data from 1973 to 2002. Qualitatively, I employed case study analysis in three countries: Indonesia, Thailand, and Korea. Results demonstrated that the IMF's impact on financial reforms is contingent upon the number of veto players in both the pace and magnitude of financial reforms as hypothesized. In addition, the effects of the manufacturing sector were confirmed in both quantitative and qualitative analyses, while the effects of the banking sector were confirmed in qualitative analysis.


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Item Type: University of Pittsburgh ETD
Status: Unpublished
CreatorsEmailPitt UsernameORCID
ETD Committee:
TitleMemberEmail AddressPitt UsernameORCID
Committee CoChairBearce, David
Committee CoChair Hallerberg, Mark
Committee MemberPérez-Liñán, Anibal
Committee MemberWalters, Robert
Committee Member Chandra, Siddharth
Date: 28 January 2008
Date Type: Completion
Defense Date: 28 August 2007
Approval Date: 28 January 2008
Submission Date: 31 August 2007
Access Restriction: No restriction; Release the ETD for access worldwide immediately.
Institution: University of Pittsburgh
Schools and Programs: Dietrich School of Arts and Sciences > Political Science
Degree: PhD - Doctor of Philosophy
Thesis Type: Doctoral Dissertation
Refereed: Yes
Uncontrolled Keywords: Asian financial crisis; economic reform; political institutions
Other ID:, etd-08312007-205038
Date Deposited: 10 Nov 2011 20:01
Last Modified: 15 Nov 2016 13:50


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