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Author: Vicente Galbis
Publisher: International Monetary Fund
ISBN: 1451842368
Category : Business & Economics
Languages : en
Pages : 94
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Book Description
Concerns were raised beginning in the 1980s about the possible detrimental effects of high positive real interest rates under financial liberalization. Using a sample of 28 countries that underwent financial liberalization since the 1970s, the paper examines the evidence about the emergence of high real interest rates and discusses the possible causes and likely effects. Some remedies--preferably preventive--are considered including macroeconormic stabilization, fiscal consolidation, improvements in prudential regulation and supervision of the financial sector, and introduction of an efficient management of indirect monetary policy instruments.
Author: Vicente Galbis
Publisher: International Monetary Fund
ISBN: 1451842368
Category : Business & Economics
Languages : en
Pages : 94
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Book Description
Concerns were raised beginning in the 1980s about the possible detrimental effects of high positive real interest rates under financial liberalization. Using a sample of 28 countries that underwent financial liberalization since the 1970s, the paper examines the evidence about the emergence of high real interest rates and discusses the possible causes and likely effects. Some remedies--preferably preventive--are considered including macroeconormic stabilization, fiscal consolidation, improvements in prudential regulation and supervision of the financial sector, and introduction of an efficient management of indirect monetary policy instruments.
Author: Vicente Galbis
Publisher: South East Asian Central Banks Research and Training Centre
ISBN:
Category : Business & Economics
Languages : en
Pages : 116
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Book Description
Author: Mr.Bart Turtelboom
Publisher: International Monetary Fund
ISBN: 1451939183
Category : Business & Economics
Languages : en
Pages : 46
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Book Description
This paper undertakes a survey of theoretical considerations and an analysis of the experience of five African countries with interest rate liberalization. Despite substantial progress in monetary policy reforms, liberalization has only partially affected the level and variability of interest rates. Several factors—macroeconomic instability, oligopolistic financial markets, the absence of developed capital markets, as well as the sequencing of the liberalization programs and the asymmetric availability of information—explain the increase in the spread between lending and deposit rates as well as the rather inflexible pattern of interest rates during the transition to a market-based financial system.
Author: Ronald I. McKinnon
Publisher: ICS Press
ISBN:
Category : Asia
Languages : en
Pages : 54
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Book Description
Author: Fondo Monetario Internacional
Publisher:
ISBN:
Category :
Languages : es
Pages : 88
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Book Description
Author: Nemat Shafik
Publisher: World Bank Publications
ISBN:
Category : Crecimiento economico
Languages : en
Pages : 37
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Book Description
The conventional wisdom says yes. But close examination suggests the answer is not nearly so clear-cut.
Author: Mr.Bart Turtelboom
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 50
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Book Description
This paper undertakes a survey of theoretical considerations and an analysis of the experience of five African countries with interest rate liberalization. Despite substantial progress in monetary policy reforms, liberalization has only partially affected the level and variability of interest rates. Several factors—macroeconomic instability, oligopolistic financial markets, the absence of developed capital markets, as well as the sequencing of the liberalization programs and the asymmetric availability of information—explain the increase in the spread between lending and deposit rates as well as the rather inflexible pattern of interest rates during the transition to a market-based financial system.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451927606
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
This paper identifies macroeconomic stability, effective bank supervision, and an appropriate sequencing of stabilization, banking regulations, and interest rate policies as common characteristics of the relatively successful experiments in financial sector liberalization. Recent theoretical developments help to explain why interest rates in free markets for bank credit may fall short of market-clearing levels, or may rise to risky levels with adverse consequences for financial institutions and the economy at large. To prevent such outcomes, macro-economic stabilization and improved bank supervision should generally precede complete removal of control on bank interest rates.
Author: Maxwell J. Fry
Publisher:
ISBN:
Category : Developing countries
Languages : en
Pages : 24
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Book Description
Author: Reuven Glick
Publisher:
ISBN:
Category : Interest rates
Languages : en
Pages : 52
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Book Description
