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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451854943
Category : Business & Economics
Languages : en
Pages : 22
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Book Description
In recent years a number of countries have undertaken far-reaching reforms of their financial sectors. Generally speaking, financial sector reforms aim at achieving greater flexibility of interest rates, an enhanced role for market forces in credit allocation, increased independence for the central bank, and a deepening of money and securities markets. Such reforms, and the developments that follow, have important implications for the design and conduct of monetary policy. This paper provides an overview of the linkages between financial sector reforms and the monetary policy framework, focusing in particular on the objectives, instruments, and operating procedures of monetary policy.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451854943
Category : Business & Economics
Languages : en
Pages : 22
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Book Description
In recent years a number of countries have undertaken far-reaching reforms of their financial sectors. Generally speaking, financial sector reforms aim at achieving greater flexibility of interest rates, an enhanced role for market forces in credit allocation, increased independence for the central bank, and a deepening of money and securities markets. Such reforms, and the developments that follow, have important implications for the design and conduct of monetary policy. This paper provides an overview of the linkages between financial sector reforms and the monetary policy framework, focusing in particular on the objectives, instruments, and operating procedures of monetary policy.
Author: Mohsin S. Khan
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451939566
Category : Business & Economics
Languages : en
Pages : 24
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Book Description
This paper reviews key areas of central banking reform in a sample of centrally planned economies undergoing transition to market-based systems. The discussion draws mainly on the experiences of four countries, Hungary, Poland, Czechoslovakia, and China. Significant efforts have been made, or are under consideration, in all countries to develop a more efficient framework for monetary management, and to provide greater autonomy to central banks in macro stabilization policies. These objectives call for a coordinated approach to strengthening a wide range of central banking functions simultaneously, and require that a core mass of supporting financial sector reforms be implemented to ensure effective transformation and stabilization with minimal transitional costs.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781557757791
Category : Business & Economics
Languages : en
Pages : 412
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Book Description
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.Paul Louis Ceriel Hilbers
Publisher: International Monetary Fund
ISBN: 1451922582
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
Financial sector liberalization, both domestic and in cross-border transactions, was a major force behind the gradual move to indirect controls and the shift toward full reliance on exchange rate targeting in the Netherlands. This paper analyzes the different steps in this process, discusses the main arguments behind the gradual approach, and draws lessons for other countries involved in this process. The paper argues that reforms in the financial sector, liberalization of the capital account, adjustments in supervision and regulation, and modernization of monetary management are strongly interrelated and should be part of a comprehensive reform strategy.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451954662
Category : Business & Economics
Languages : en
Pages : 104
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Book Description
A review of the experience of five developing countries in reforming their financial systems illustrates the benefits and risks, and provides lessons on the factors which contribute to successful financial sector reforms. Financial sector reforms need to be supported by active monetary policy, and the adoption of new monetary control procedures early in the reform program; reforms should be sequenced consistently with the broader program of macroeconomic adjustment. The pace of liberalization of interest rates and credit should also take account of the solvency of financial and nonfinancial firms. A minimal system of prudential regulation is an essential element of successful financial sector reform.
Author: Shakil Faruqi
Publisher: World Bank Publications
ISBN: 9780821330135
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
"Compares financial sector reforms and their impact on economic growth and stability in selected countries of Latin America and Asia. Articles range from the quite specific (e.g., securities regulation in Thailand), to more general"--Handbook of Latin American Studies, v. 57.
Author: José María Fanelli
Publisher: Springer
ISBN: 1349268712
Category : Business & Economics
Languages : en
Pages : 384
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Book Description
For the large number of developing countries undergoing significant structural transformations, one of the most important and controversial adjustment areas is that of the financial markets. Focusing on the role of the institutional and enabling environment within which financial reform occurs and on the integration of principles of finance with more macroeconomic approaches to the subject, the book contains case studies of reform experiences in Argentina, India, Nigeria, Turkey and Uruguay. Themes studied include the 'go slow' versus 'big bang' approach and the particular problem of bank-firm inter-linkages in Eastern Europe.
Author: Mr.Jonathan David Ostry
Publisher: International Monetary Fund
ISBN: 1589068181
Category : Business & Economics
Languages : en
Pages : 62
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Book Description
This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.
Author: Mahamudu Bawumia
Publisher: Booklocker.Com Incorporated
ISBN: 9781609104153
Category : Business & Economics
Languages : en
Pages : 248
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Book Description
