Monetary Policy Instruments For Developing Countries
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Monetary Policy Instruments For Developing Countries
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Author :
language : ru
Publisher: World Bank Publications
Release Date :
Monetary Policy Instruments For Developing Countries written by and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Monetary Policy Instruments For Developing Countries
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Author : Gerard Caprio
language : en
Publisher: World Bank Publications
Release Date : 1991
Monetary Policy Instruments For Developing Countries written by Gerard Caprio and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Business & Economics categories.
Monetary Policy Implementation
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Author : Mr.Rodolfo Maino
language : en
Publisher: International Monetary Fund
Release Date : 2007-01-01
Monetary Policy Implementation written by Mr.Rodolfo Maino 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 2007-01-01 with Business & Economics categories.
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.
Money And Monetary Policy In Less Developed Countries
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Author : Warren L. Coats
language : en
Publisher: Elsevier
Release Date : 2014-05-19
Money And Monetary Policy In Less Developed Countries written by Warren L. Coats and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-19 with Business & Economics categories.
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.
Market Based Systems Of Monetary Control In Developing Countries
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Author : Mr.Chorng-Huey Wong
language : en
Publisher: International Monetary Fund
Release Date : 1991-04-01
Market Based Systems Of Monetary Control In Developing Countries written by Mr.Chorng-Huey Wong 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 1991-04-01 with Business & Economics categories.
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.
Monetary Policy In Low Financial Development Countries
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Author : Juan Antonio Morales
language : en
Publisher: Oxford University Press
Release Date : 2021-07-22
Monetary Policy In Low Financial Development Countries written by Juan Antonio Morales and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-22 with Business & Economics categories.
Monetary Policy in Low Financial Development Countries provides a broad coverage of the monetary policy issues faced by developing countries with low financial depth. These low and lower middle income countries are characterized by the predominance of bank finance, shallow financial markets, low financial inclusion, weak integration with world capital markets, and a high degree of informality in economic activity. Monetary policy acquires special twists, making it different in many aspects from the policies followed in advanced and emerging market economies. This book covers the main facets of monetary policy making, using an approach that combines discussions of theoretical arguments, of results from empirical studies and of relevant policy experiences. It presents the monetary policy instruments that central banks rely on in these countries. It assesses the specificities of their monetary transmission mechanism, i.e. the way central banks' actions affect output and prices. It evaluates the advantages, drawbacks, and challenges of the different nominal anchors they may choose from: exchange rate targeting, monetary targeting, and inflation targeting. This discussion is set against the background of the three main goals pursued by central banks: price, output, and financial stability. Particular attention is devoted to the issue of the credibility of central banks and to the trade-offs they face when external shocks, to which these countries are very vulnerable, lead to conflicts among the three goals they pursue. The authors also cover more specific topics, such as the coordination between monetary and fiscal policy, the challenges raised by dollarization, the implications of informal labour markets and of microfinance institutions for monetary policy-making, as well as the role of models for forecasting and policy evaluation by central banks.
The Transmission Mechanism For Monetary Policy In Developing Countries
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Author : Mr.Peter Montiel
language : en
Publisher: International Monetary Fund
Release Date : 1990-05-01
The Transmission Mechanism For Monetary Policy In Developing Countries written by Mr.Peter Montiel 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 1990-05-01 with Business & Economics categories.
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.
Monetary Control Procedures And Financial Reform
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1989-06-02
Monetary Control Procedures And Financial Reform 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 1989-06-02 with Business & Economics categories.
Many countries have initiated reforms in their monetary control procedures by relaxing direct controls and increasing the role of market processes. The changed approach is often inevitable when countries reform their financial systems in support of growth and adjustment. This is because reform of those procedures increases the scope of monetary policy for stabilization purposes and allows for more flexible arrangements for setting interest rates and allocating credit that are necessary elements in improving resource mobilization and the efficiency of investment. This paper discusses the approaches to reforming monetary instruments, the issues in implementation, and experiences in developing countries.
Monetary Instruments And Their Use During The Transition From A Centrally Planned To A Market Economy
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Author : Mr.Paul Louis Ceriel Hilbers
language : en
Publisher: International Monetary Fund
Release Date : 1993-11-01
Monetary Instruments And Their Use During The Transition From A Centrally Planned To A Market Economy written by Mr.Paul Louis Ceriel Hilbers 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 1993-11-01 with Business & Economics categories.
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.
Fiscal And Monetary Policies In Developing Countries
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Author : Rashed Al Mahmud Titumir
language : en
Publisher: Routledge
Release Date : 2021-12-24
Fiscal And Monetary Policies In Developing Countries written by Rashed Al Mahmud Titumir and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-24 with Business & Economics categories.
The COVID-19 crisis has fractured the pre-existing structural rigidities and institutional fragilities in the economies of developing countries more than ever, necessitating a rethinking of fiscal and monetary policies, the main vehicles for relief, recovery and reconstruction. This book examines the barriers to transformation in developing countries in the wake of the pandemic and analyses the paths to recovery based on an economic policymaking agenda. It juxtaposes fiscal and monetary policies and state-building from pre- and post-colonial periods to the present-day context. It employs an interdisciplinary approach and ventures beyond the well-rehearsed tendency to explain the state of developing countries by considering the experiences of advanced economies. The book utilises data on three levels: the aggregate level using world data, the single-country context with case studies and a cross-country assessment for comparative analysis. Further, the book critically assesses the relevance of different schools of thought and provides nuanced, thought-provoking theoretical apparatuses applicable to developing countries, as well as allowing the reader to undertake a country-specific analysis through the detailed historical country case studies undertaken in each chapter. Each chapter has a detailed and separate theoretical and empirical section for the ease of understanding of the key propositions in the book. The book will find an audience among scholars and researchers alike, who wish to gain a deeper understanding of the formulation of fiscal and monetary policies, specifically in developing countries. For policymakers and policy advocates, the book will serve as the groundwork for monetary and fiscal policies in the context of developing countries, providing more relevant instruments for transformational pathways.