Equally significantly, key international financial institutions, noticeably the International Monetary Fund (IMF) and World Bank, insistently urged developing countries to embrace the market-oriented, neo-liberal norms and practices that played a crucial role in promoting capital market reforms. Particularly in the after math of financial crises, such as those that affected Latin America East Asia and East Central Europe in the 1990s and early 2000s there institutions for the removal of entry barriers in the securities industry, the opening up of stock.