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Market-Based Systems of Monetary Control in Developing Countries

Author : Mr.Chorng-Huey Wong

Publisher : International Monetary Fund

Page : 30 pages

File Size : 24,7 MB

Release : 1991-04-01

Category : Business & Economics

ISBN : 1451845871

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Book Description

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.



Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries

Author : International Monetary Fund

Publisher : International Monetary Fund

Page : 74 pages

File Size : 20,79 MB

Release : 2015-10-23

Category : Business & Economics

ISBN : 1498344062

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Book Description

Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.



The Federal Reserve System Purposes and Functions

Author : Board of Governors of the Federal Reserve System

Publisher :

Page : 0 pages

File Size : 18,78 MB

Release : 2002

Category : Banks and Banking

ISBN : 9780894991967

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Book Description

Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.







Conditionality in Evolving Monetary Policy Regimes

Author : International Monetary Fund

Publisher : International Monetary Fund

Page : 61 pages

File Size : 33,62 MB

Release : 2014-05-03

Category : Business & Economics

ISBN : 1498343694

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Book Description

With single-digit inflation and substantial financial deepening, developing countries are adopting more flexible and forward-looking monetary policy frameworks and ascribing a greater role to policy interest rates and inflation objectives. While some countries have adopted formal inflation targeting regimes, others have developed frameworks with greater target flexibility to accommodate changing money demand, use of policy rates to signal the monetary policy stance, and implicit inflation targets.



Coordination of Monetary and Fiscal Policies

Author : International Monetary Fund

Publisher : International Monetary Fund

Page : 33 pages

File Size : 36,41 MB

Release : 1998-03-01

Category : Business & Economics

ISBN : 1451844239

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Book Description

Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.



Japanese Monetary Policy

Author : Kenneth J. Singleton

Publisher : University of Chicago Press

Page : 208 pages

File Size : 38,27 MB

Release : 2007-12-01

Category : Business & Economics

ISBN : 0226760685

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Book Description

How has the Bank of Japan (BOJ) helped shape Japan's economic growth during the past two decades? This book comprehensively explores the relations between financial market liberalization and BOJ policies and examines the ways in which these policies promoted economic growth in the 1980s. The authors argue that the structure of Japan's financial markets, particularly restrictions on money-market transactions and the key role of commercial banks in financing corporate investments, allowed the BOJ to influence Japan's economic success. The first two chapters provide the most in-depth English-language discussion of the BOJ's operating procedures and policymaker's views about how BOJ actions affect the Japanese business cycle. Chapter three explores the impact of the BOJ's distinctive window guidance policy on corporate investment, while chapter four looks at how monetary policy affects the term structure of interest rates in Japan. The final two chapters examine the overall effect of monetary policy on real aggregate economic activity. This volume will prove invaluable not only to economists interested in the technical operating procedures of the BOJ, but also to those interested in the Japanese economy and in the operation and outcome of monetary reform in general.



Issues in Monetary Policy

Author : Kent Matthews

Publisher : John Wiley & Sons

Page : 210 pages

File Size : 22,2 MB

Release : 2006-02-22

Category : Business & Economics

ISBN : 0470032812

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Book Description

Since the Bank of England was made independent in 1997, the conduct of monetary policy has been relatively uncontroversial. The debates between Keyneisans, monetarists and supporters of fixed exchange rate mechanisms now appear very distant. Despite the apparent consensus there are many issues related to the conduct of monetary policy that are not yet settled and which will soon come to the fore. Is the current form of independence for the Bank of England appropriate? Should a central bank target inflation or the prices level? How does a central bank deal with asset price deflation? Should more account be taken of monetary aggregates? Should central banks target asset prices? What is the relationship between the money supply and asset price inflation? How should central banks ensure financial stability? The IEA was at the forefront of changing the parameters of the debate surrounding monetary policy in the 1970s and 1980s. This text, brings together some of the leading authors in the field, including the current Governor of the Bank of England, to discuss current issues in monetary policy and the relationship between monetary policy and financial markets. It is appropriate for undergraduates and postgraduates in economics and finance as well as for practitioners in financial markets.



Finance, Financial Sector Policies, and Long-run Growth

Author : Asli Demirguc-Kunt

Publisher : World Bank Publications

Page : 82 pages

File Size : 15,6 MB

Release : 2008

Category : Access to Finance

ISBN :

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Book Description

Abstract: The first part of this paper reviews the literature on the relation between finance and growth. The second part of the paper reviews the literature on the historical and policy determinants of financial development. Governments play a central role in shaping the operation of financial systems and the degree to which large segments of the financial system have access to financial services. The paper discusses the relationship between financial sector policies and economic development.