Evaluation of MIF Projects: Financial Reform & Capital Markets

Nov 2002
This evaluation (MIF/GN-78-4) measures the performance of MIF projects in the areas of financial reform and capital markets development. MIF operations are judged for their consistency with country priorities, Bank policy and a set of project design characteristics desired by the MIF. The report is organized as follows: Chapter One describes the policy, institutional and legal/regulatory environment when the MIF began operations in the early 1990s. Chapter Two reviews the evolution of MIF strategies in the financial and capital market areas. Chapter Three summarizes the results of an in-depth evaluation of the fifty-one financial reform and capital market projects. Chapter Four presents a compilation of the findings and conclusions derived from the evaluation of MIF activities in the financial reform and capital market clusters.