Market Based Systems Of Monetary Control In Developing Countries
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Author | : Mr.Chorng-Huey Wong |
Publisher | : International Monetary Fund |
Total Pages | : 30 |
Release | : 1991-04-01 |
Genre | : Business & Economics |
ISBN | : 1451845871 |
This paper reviews issues in the development of a market-based system of monetary control in developing countries. It focuses on the appropriate sequencing of financial reform that would facilitate the transition toward a market-based system and measures required to strengthen the effectiveness of market-based operations. The paper also assesses the effects of financial reform on the demand for money function and discusses the implications for policy formulation and implementation.
Author | : |
Publisher | : World Bank Publications |
Total Pages | : 26 |
Release | : |
Genre | : |
ISBN | : |
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 412 |
Release | : 1991-03-15 |
Genre | : Business & Economics |
ISBN | : 9781557757791 |
Financial sector liberalization can spur economic growth and development, but reforms to liberalize the financial sector can also entail risks if they are not properly designed and implemented. One of the central questions for countries reforming their financial systems is how to sequence the reforms so as to maximize the benefits of liberalization and contain its risks. Edited by R. Barry Johnston and V. Sundararajan of the IMF's Monetary and Exchange Affairs Department, this book attempts to answer this and related questions by drawing lessons from financial sector reforms in selected countries. In particular, the book surveys financial sector reforms in Indonesia, Thailand, and Korea between the mid-1980s and mid-1990s.
Author | : Mr.Peter Montiel |
Publisher | : International Monetary Fund |
Total Pages | : 30 |
Release | : 1990-05-01 |
Genre | : Business & Economics |
ISBN | : 1451972806 |
In many developing countries the financial system is characterized by the absence of organized markets for securities and equities, by capital controls, and by legal ceilings on bank borrowing and lending rates, a situation which gives rise to parallel markets for foreign exchange and informal loan markets. This paper analyzes how changes in monetary policy instruments (bank credit, administered interest rates, required reserve ratios, and intervention in the parallel exchange market) are transmitted to domestic aggregate demand in a financially-repressed economy. Such an analysis is necessary to understand how the move to a more market-oriented system would affect the economy in the short run.
Author | : Warren L. Coats |
Publisher | : Elsevier |
Total Pages | : 842 |
Release | : 2014-05-19 |
Genre | : Business & Economics |
ISBN | : 148315730X |
Money and Monetary Policy in Less Developed Countries: A Survey of Issues and Evidence focuses on monetary policy, the financial intermediation process, and the role of money in economic development in less developed countries (LDCs). Topics covered include financial development and economic growth in underdeveloped countries; instruments and techniques used in the implementation of monetary policy: and econometric policy models. This book is comprised of 46 chapters and begins with a discussion on the main lines of thought in the field of money and monetary policy in LDCs, with emphasis on the significant empirical results. The reader is then introduced to the role of money in the development process; production and monetization in the subsistence sector; some aspects of financial policies and central banking in developing countries; and the efficacy of monetary rules for LDCs. The subsequent chapters explore monetary policy instruments such as interest rates, credit controls, and exchange rates; credit policy and the balance of payments in developing countries; and price and output behavior in the Indian economy from 1951 to 1973. A semiannual macroeconometric model of the Philippines for the period 1967-1976 is also described. This monograph will be a valuable resource for economists, economic policymakers, and central bankers as well as students.
Author | : Mr.Rodolfo Maino |
Publisher | : International Monetary Fund |
Total Pages | : 43 |
Release | : 2007-01-01 |
Genre | : Business & Economics |
ISBN | : 1451865716 |
Since the early 1990s, the IMF has been advising countries to shift to the use of indirect instruments for executing monetary policy. This paper provides information about a monetary policy instruments database, maintained by the Monetary and Capital Markets Department of the IMF. We offer an overview of the information contained in the database in the form of comparative summary tables and graphs to illustrate the use of monetary policy instruments by groups of countries (developing, emerging market and developed countries). The main trend that can be identified from the database information is the increasing reliance on money market operations for monetary policy implementation. We emphasize the relevance and usefulness of the data collected through periodic surveys of central banks, for general descriptive and analytical purposes.
Author | : Mr.Paul Louis Ceriel Hilbers |
Publisher | : International Monetary Fund |
Total Pages | : 34 |
Release | : 1993-11-01 |
Genre | : Business & Economics |
ISBN | : 1451850948 |
This paper discusses different instruments of monetary policy, and in particular the choice between direct and indirect instruments. It identifies the main characteristics of a country’s financial system that should be considered in selecting monetary instruments, and analyzes how these characteristics should influence that selection in countries that are progressing from a state-controlled to a market economy. The characteristics of the financial system during the initial stage of the transition sometimes favor relatively direct instruments. At this stage market-based variants of direct instruments may combine the necessary effectiveness in reducing monetary expansion with the need to introduce and stimulate competition in the financial markets. During this stage indirect instruments can be developed and tested (“belt and braces” approach). In later stages, as experience is gained, these indirect instruments can gradually replace the more direct controls.
Author | : Overseas Development Institute (London, England) |
Publisher | : Psychology Press |
Total Pages | : 388 |
Release | : 1993 |
Genre | : Monetary policy |
ISBN | : 9780415088220 |
This assesses the role of monetary policy in developing countries lacking sophisticated financial sectors. Studies of six countries analyse the interaction between these factors involved and development
Author | : Subrata Ghatak |
Publisher | : Palgrave |
Total Pages | : 296 |
Release | : 1995 |
Genre | : Business & Economics |
ISBN | : |
This book highlights the basic principles of monetary economics and their application to developing countries. Fully illustrated, the new edition includes four entirely new chapters, with material on financial crises, the debates surrounding inflation targeting, and an examination of the role and future of financial institutions.
Author | : Mr.Tomás J. T. Baliño |
Publisher | : International Monetary Fund |
Total Pages | : 316 |
Release | : 1997-09-07 |
Genre | : Business & Economics |
ISBN | : 9781557755988 |
Many countries have reformed their monetary instruments over the last few years. Edited by Tomas J.T. Balino and Lorena M. Zamalloa, this volume deals with the design, implementation, and coordination of major monetary policy instruments, highlighting relevant country experiences. In particular, it discusses how to adapt those instruments to the financial environment as well as how to help this environment to develop.