Obstacles may worsen for Russian and Turkish financial reformers, Italian paper says
Reforms in both countries left key problems unaddressed, researchers say
Financial reformers in Turkey and Russia have been unable to address some key problems and may face greater difficulties in the future, a working paper from the Bank of Italy argues.
In The financial systems in Russia and Turkey: recent developments and challenges, Simone Auer, Emidio Cocozza and Andrea Colabella say reform efforts in both countries led to "unquestionable improvements" in their financial systems. But while reformers did score some major successes, they say, financial markets in
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