宏观经济政策与现实[文献翻译].docVIP

本科毕业论文外文翻译原文 外文题目：Theme: Macro Economic Policy and Reality——Deepening Rural Financial Markets: Macroeconomic, Policy and Political Dimensions 出 处：Rural Finance Program 作 者：Claudio Gonzalez-Vega 原 文： Policies for rural financial deepening A contemporary perspective acknowledges the urgency to adopt new policies, develop the necessary physical and institutional infrastructure, improve and disseminate new financial technologies, and design and build new organizations, which would allow a more efficient, sustainable, and broadly-based provision of rural financial services in the developing world and economies in transition. Policies refer to public actions –government and donor interventions– needed to create an environment conducive to rural financial market development. Key policy interventions may require revisions of legal systems (e.g., property rights, borrower and lender rights, contract design, judicial enforcement), new financial policies (e.g., interest rates, exchange rates, reserve requirements), and new regulatory frameworks (e.g., entry and exit of financial organizations, degrees of market competition, prudential regulation and supervision). These policies, legal systems, and regulatory frameworks are part of the institutional infrastructure needed for the efficient and stable operation of rural financial markets . At best, the development of this infrastructure has been neglected; frequently in the past, interventionist policies actually repressed financial market development. Reforms of non-financial policies that constrain the profitability of client businesses and public investments and that reduce transaction costs for all market participants also contribute to an expansion of both the demand and the supply of rural financial services. The development of supporting institutional mechanisms (e.g., property registries, credit bureaus and rating