Interest Rate Liberalization
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Interest Rate Liberalization In China
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Author : Mr.Tarhan Feyzioglu
language : en
Publisher: International Monetary Fund
Release Date : 2009-08-01
Interest Rate Liberalization In China written by Mr.Tarhan Feyzioglu and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-08-01 with Business & Economics categories.
What might interest rate liberalization do to intermediation and the cost of capital in China? China's most binding interest rate control is a ceiling on the deposit rate, although lending rates are also regulated. Through case studies and model-based simulations, we find that liberalization will likely result in higher interest rates, discourage marginal investment, improve the effectiveness of intermediation and monetary transmission, and enhance the financial access of underserved sectors. This can occur without any major disruption. International experience suggests, however, that achieving these benefits without unnecessary instability, requires vigilant supervision, governance, and monetary policy, and a flexible policy toolkit.
Interest Rate Liberalization And Money Market Development
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Author : Mr.Bernard Laurens
language : en
Publisher: International Monetary Fund
Release Date : 1996-12-30
Interest Rate Liberalization And Money Market Development written by Mr.Bernard Laurens and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-12-30 with Business & Economics categories.
This book by Hassanali Mehran, Bernard Laurens, and Marc Quintyn brings together the papers presented at a seminar held in Beijing, China, in August 1995 and sponsored jointly by the IMF's Monetary and Exchange Affairs Department and the Poeple's Bank of China. The papers were written by central bankers from China, Italy, Korea, Malaysia, Thailand, and Turkey. The Chinese authorities were specifically interested in learning more about the Italian and Turkish models of interbank markets and in the experiences of neighboring Asian countries with interest rate liberalization. The U.S. experience was also presented, and the introduction to the book draws policy lessons from the experiences presented at the seminar.
China S Monetary Policy And Interest Rate Liberalization
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Author : Wei Liao
language : en
Publisher: International Monetary Fund
Release Date : 2014-05-01
China S Monetary Policy And Interest Rate Liberalization written by Wei Liao and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-01 with Business & Economics categories.
China has been moving to a more market oriented financial system, which has implications for the monetary policy environment. The paper investigates the stability of the money demand function (MDF) in light of progress in financial sector reforms that, for example, have resulted in significant financial innovation (so-called shadow banking) and more liberalized interest rates. The analysis of international experience suggests that rapid development of the financial system often leads to structural shifts in the MDF. For example, financial innovation and liberalization alter the sensitivity of money balances to income and the interest rate. For China, we find that the stable long-run relationship between money demand, output, and interest rates that existed between 2002 and 2008 disappears after 2008. This coincides with the period of rapid financial innovation, especially the growth in off-balance sheet and nonbank financial intermediation. The results suggest that usefulness of M2 as an intermediate monetary target has declined with financial innovation and reform. A result that underscores the importance of moving toward increased reliance on more price-based targets such as interest rates.
Interest Rate Liberalization
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Author : Mr.Bart Turtelboom
language : en
Publisher: International Monetary Fund
Release Date : 1991-12-01
Interest Rate Liberalization written by Mr.Bart Turtelboom and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-12-01 with Business & Economics categories.
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.
Issues In Interest Rate Management And Liberalization
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1990-01-01
Issues In Interest Rate Management And Liberalization written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-01-01 with Business & Economics categories.
This paper discusses the transition strategy from administratively set interest rates to market rates. Despite worldwide trends toward financial liberalization, few monetary authorities are prepared to accept as reasonable any interest rate level that is market-determined. The paper suggests some helpful indicators to assess the adequacy of interest rates. It discusses factors which contribute to a smooth liberalization process. The main conclusion is that interest rate liberalization is not synonymous with laissez-faire policies. It requires, however, the replacement of the administratively set interest rates by indirect monetary management techniques which operate through the market.
Interest Rate Liberalization In China
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Author : International Monetary Fund
language : en
Publisher:
Release Date : 2009
Interest Rate Liberalization In China written by International Monetary Fund and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Annotation What might interest rate liberalization do to intermediation and the cost of capital in China? China's most binding interest rate control is a ceiling on the deposit rate, although lending rates are also regulated. Through case studies and model-based simulations, we find that liberalization will likely result in higher interest rates, discourage marginal investment, improve the effectiveness of intermediation and monetary transmission, and enhance the financial access of underserved sectors. This can occur without any major disruption. International experience suggests, however, that achieving these benefits without unnecessary instability, requires vigilant supervision, governance, and monetary policy, and a flexible policy toolkit.
High Real Interest Rates Under Financial Liberalization
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Author : Vicente Galbis
language : en
Publisher: International Monetary Fund
Release Date : 1993-01-01
High Real Interest Rates Under Financial Liberalization written by Vicente Galbis and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-01-01 with Business & Economics categories.
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.
Financial Sector Reforms And Interest Rate Liberalization
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Author : Rose Ngugi
language : en
Publisher:
Release Date : 1998
Financial Sector Reforms And Interest Rate Liberalization written by Rose Ngugi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.
Interest Rate Liberalization
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Author : Bart Turtelboom
language : en
Publisher:
Release Date : 2006
Interest Rate Liberalization written by Bart Turtelboom and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
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.
Financial Liberalization And Economic Development
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Author : Ronald I. McKinnon
language : en
Publisher: ICS Press
Release Date : 1988
Financial Liberalization And Economic Development written by Ronald I. McKinnon and has been published by ICS Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Asia categories.