Abstract
The transition to a spontaneously functioning market economy cannot be initiated by market forces themselves. Indeed, the only force powerful enough to set the market forces in motion is the very state that is supposed to remove itself from the picture. And for a number of reasons, the state may be unable to accomplish this task. (Frydman and Rapaczynski, 1994, p 57)
Vice-President, Citibank, NA. The views expressed in this paper are those of the author and do not necessarily correspond to those of Citibank, NA.
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Annibale, R.A., Green, R.H. (1997). The need for a regulatory framework in the development and liberalization of financial markets in Africa. In: Faundez, J. (eds) Good Government and Law. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-25229-9_6
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