Quasi Fiscal Operations Of Central Banks In Transition Economies
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Quasi Fiscal Operations Of Central Banks In Transition Economies
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Author : Malgorzata Markiewicz
language : en
Publisher:
Release Date : 2001
Quasi Fiscal Operations Of Central Banks In Transition Economies written by Malgorzata Markiewicz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Banks and banking, Central categories.
This paper reviews issues associated with quasi-fiscal operations (QFO) of central banks in a sample of countries in Central and Eastern Europe and the former Soviet Union. The concern is the problem of transparency in fiscal and monetary accounts when the central bank undertakes quasi-fiscal operations and the government falls short of providing full coverage of fiscal operations. QFO can also jeopardize monetary policy designed to maintain price stability. A simple framework is developed to estimate the extent of QFO. In some cases, the magnitude of QFO is significant in indicating underestimation of fiscal deficit figures. We claim that the lack of transparency in fiscal accounts of transition countries warrants serious concern.
Central Banking In Developing Countries
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Author : A. Chandavarkar
language : en
Publisher: Springer
Release Date : 1996-10-31
Central Banking In Developing Countries written by A. Chandavarkar and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-10-31 with Business & Economics categories.
This is a comprehensive state-of-the-art survey which analyzes institutions, policies and issues of central banking in developing countries including interest-free Islamic and transition economies. It discusses objectives and functions; monetary, exchange, supervisory and developmental roles; financial liberalization; informal finance; causes and implications of central bank losses. It critically evaluates currency boards, central bank independence, ceilings on government credit and suggests radical organizational reforms, divestiture of quasi-fiscal activities and partial privatization of central banks.
Central Banking Monetary Policies And The Implications For Transition Economies
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Author : Mario I. Blejer
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Central Banking Monetary Policies And The Implications For Transition Economies written by Mario I. Blejer and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
the adaptation of the institutional settings of monetary policy to deal with an emerging market economy had to be carried out in the midst of an unprecedented stabilization effort and, therefore, was particularly urgent and complicated. In many of the transition countries, the transformation effort implied not just changes in procedures but the establishment of a central bank from scratch, a process that involved an important effort, precisely at a time when the whole system was in serious turmoil. While the process of reforms is not yet completed in all the transition countries, an immense amount of progress has been achieved, and many of the transition countries face today monetary and central banking conditions that are close to those of Western economies. In this volume, we collect a number of important contributions that discuss the most burning aspects of the current debates on central banking and monetary policy and draw implications for the postsocialist transition economies. The various papers included in the volume deal with a broad set of related issues, which are highly relevant not just for transition economies but for other emerging markets and for advanced economies as well. The subjects covered in the book are divided into seven major categories (Sections II to VIII), some of which overlap.
Central Banking In Transition Countries
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Author : Mr.Helmut Wagner
language : en
Publisher: International Monetary Fund
Release Date : 1998-08-01
Central Banking In Transition Countries written by Mr.Helmut Wagner 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 1998-08-01 with Business & Economics categories.
In the 1990s, the issues of central banking and central bank independence have gained increasing attention, in part owing to the role of the future European central bank, but also owing to the emergence of transition countries and the role of central banks in these countries. The main focus of the paper is on the preconditions of disinflation and successful stability policy in transition countries, paying special attention to the institutional requirements and to the choice of nominal anchors.
Central Banking In Developing Countries
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Author : Anand G. Chandavarkar
language : en
Publisher: Palgrave Macmillan
Release Date : 1996
Central Banking In Developing Countries written by Anand G. Chandavarkar and has been published by Palgrave Macmillan this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
Central Bank Reform In The Transition Economies
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1997-05-01
Central Bank Reform In The Transition Economies 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 1997-05-01 with Business & Economics categories.
Since 1992, the central banks of the Baltic states and the Commonwealth of Independent States have undertaken comprehensive reform of their monetary and exchange arrangements in support of their stabilization efforts. Their efforts have been supported by extensive technical assistance provided by the IMF and 23 central banks. This book edited by V. Sundararajan, Arne B. Peterson, and Gabriel Sensenbrenner, contains the background papers prepared for the second joint coordinating meeting of participants. That meeting focused on the progress of structural reforms in central banking and bank restructuring and identified priorities for the deepening of reforms. The book documents the remarkable progress achieved by the Baltic and CIS central banks and the catalytic role they have played in financial market development.
Quasi Fiscal Operations Of Public Financial Institutions
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Author : Mr. G. A. Mackenzie
language : en
Publisher: International Monetary Fund
Release Date : 1996-10-24
Quasi Fiscal Operations Of Public Financial Institutions written by Mr. G. A. Mackenzie 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 1996-10-24 with Business & Economics categories.
Central banks and other public financial institutions act as agents of fiscal policy in many countries. Their "quasi-fiscal" operations and activities can affect the overall public sector balance without affecting the budget deficit as conventionally measured, may also have important allocative effects, and increase the effective size of the public sector. This paper analyzes the macroeconomic and financial effects of such quasi-fiscal activities, as well as the taxes, subsidies, and other expenditures that such activities introduce outside the budget. Measurement and accounting issues are addressed, and policy recommendations are offered.
Aspects Of Fiscal Performance In Some Transition Economies Under Fund Supported Programs
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Author : Mr.Willem H. Buiter
language : en
Publisher: International Monetary Fund
Release Date : 1997-04-01
Aspects Of Fiscal Performance In Some Transition Economies Under Fund Supported Programs written by Mr.Willem H. Buiter 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 1997-04-01 with Business & Economics categories.
Key medium– and longer–term fiscal issues faced by transition economies are reviewed, including government solvency and the sustainability of the fiscal–financial–monetary program. The paper aims to assist the design and implementation of future Fund programs and to contribute to the debate about fiscal policy in transition economies. After presenting a framework for evaluating the sustainability of the fiscal–financial–monetary program of the state, some numerical material is presented on public debt, (quasi–) fiscal deficits and monetary financing. Eight budgetary issues of special relevance to transition economies are considered next. The lessons from this study are summarized in a number of propositions.
Central Banking Technical Assistance To Countries In Transition
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Author : Ms.Susana Almuina
language : en
Publisher: International Monetary Fund
Release Date : 1995-12-15
Central Banking Technical Assistance To Countries In Transition written by Ms.Susana Almuina 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 1995-12-15 with Business & Economics categories.
This book, edited by J.B. Zulu, Ian S. McCarthy, Susana Almuiña, and Gabriel Sensenbrenner, presents the proceedings of the special Joint Meetings on Central Banking Technical Assistance held in St. Petersburg, Russia in 1994, and provides detailed information on important issues in central banking, including a comparative sample of 31 countries. The arrangements concerning such issues as the size and composition of the policymaking board, the role of the central bank in monetary and exchange rate policy, resolution of conflict between the central bank and the government, public accountability, relations with the markets, and credit to the government are reviewed.
Central Bank Autonomy And Inflation And Output Performance In The Baltic States Russia And Other Countries Of The Former Soviet Union 1995 1997
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Author : Mr. Tonny Lybek
language : en
Publisher: International Monetary Fund
Release Date : 1999-01-01
Central Bank Autonomy And Inflation And Output Performance In The Baltic States Russia And Other Countries Of The Former Soviet Union 1995 1997 written by Mr. Tonny Lybek 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 1999-01-01 with Business & Economics categories.
A higher degree of de jure autonomy and accountability of the central banks of the Baltic states, Russia, and other countries of the former Soviet Union appears to be positively correlated with lower average inflation. There also seems to be some positive correlation between greater central bank autonomy and higher average real growth, after the initial period of reforms. Central banks with a higher degree of autonomy and accountability have apparently also reformed their operations more aggressively.