The Use Of Credit Ceilings In The Presence Of Indirect Monetary Instruments An Analytical Framework
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The Use Of Credit Ceilings In The Presence Of Indirect Monetary Instruments An Analytical Framework
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Author : Plamen Yossifov
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2002-12-01
The Use Of Credit Ceilings In The Presence Of Indirect Monetary Instruments An Analytical Framework written by Plamen Yossifov 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 2002-12-01 with categories.
In this paper, we introduce credit ceilings in the standard model of the money multiplier and analyze their role in central bank's management of money supply in the presence of indirect monetary instruments. We show that under a regime of total credit ceilings, their optimal value equals the desired growth rate of the adjusted monetary base. Under a regime of partial credit ceilings, their optimal value depends on the desired growth rate of the adjusted monetary base, the degree of substitutability between the regulated and unregulated types of banks' earning assets, and the autonomous growth rate of the latter.
Bank By Bank Credit Ceilings
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Author : Mitra Farahbaksh
language : en
Publisher:
Release Date : 2006
Bank By Bank Credit Ceilings written by Mitra Farahbaksh 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.
Many central banks have abandoned credit ceilings in favor of monetary control frameworks based on indirect instruments. In the long run, ceilings limited competition, hampered the development of a money market, and caused disintermediation. Despite the many distortions associated with the use of credit ceilings, some countries continue to employ them, particularly during the transitional period before full reliance on indirect monetary instruments. The paper argues that the careful attention to design can help reduce distortions typically associated with the use of credit ceilings. It identifies a series of principles that may be followed in designing a system that can minimize those distortions.
Monetary And Exchange System Reforms In China
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Author : Mr.Bernard Laurens
language : en
Publisher: International Monetary Fund
Release Date : 1996-09-26
Monetary And Exchange System Reforms In China 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 1996-09-26 with Business & Economics categories.
In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.
The Adoption Of Indirect Instruments Of Monetary Policy
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Author : Mr.William E. Alexander
language : en
Publisher: International Monetary Fund
Release Date : 1995-07-06
The Adoption Of Indirect Instruments Of Monetary Policy written by Mr.William E. Alexander 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 1995-07-06 with Business & Economics categories.
This paper examines the experience of implementing indirect instruments of monetary policy. The experiences of country studies illustrate the variety of circumstances under which indirect instruments of monetary policy have been introduced. Case Studies are presented for Chile, Egypt, Ghana, Indonesia, Mexico, New Zealand, and Poland.
Imf Research Bulletin
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Author :
language : en
Publisher:
Release Date : 2000
Imf Research Bulletin written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with International finance categories.
Imf Survey
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Author : International Monetary Fund
language : en
Publisher:
Release Date : 2003
Imf Survey 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 2003 with International finance categories.
Sequencing Financial Sector Reforms
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1991-03-15
Sequencing Financial Sector Reforms 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 1991-03-15 with Business & Economics categories.
Financial sector liberalization can spur economic growth and development, but reforms to liberalize the financial sector can also entail risks if they are not properly designed and implemented. One of the central questions for countries reforming their financial systems is how to sequence the reforms so as to maximize the benefits of liberalization and contain its risks. Edited by R. Barry Johnston and V. Sundararajan of the IMF's Monetary and Exchange Affairs Department, this book attempts to answer this and related questions by drawing lessons from financial sector reforms in selected countries. In particular, the book surveys financial sector reforms in Indonesia, Thailand, and Korea between the mid-1980s and mid-1990s.
Credit Growth In Sub Saharan Africa Sources Risks And Policy Responses
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Author : Plamen Iossifov
language : en
Publisher: International Monetary Fund
Release Date : 2009-08
Credit Growth In Sub Saharan Africa Sources Risks And Policy Responses written by Plamen Iossifov 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 with Business & Economics categories.
In this paper, we analyze credit growth in Sub-Saharan Africa over the past decade focusing on the post-2002 rapid credit growth in select countries. We develop regression models of the fundamental determinants of bank credit and use them to examine whether they can fully explain developments in rapid credit growth countries. We then argue that rapid credit expansion, whether a manifestation of a credit boom or driven by fundamentals, can give rise to prudential and macroeconomic risks. We detail these risks and discuss the choice of policies to mitigate them. We conclude by evaluating the likely impact of the ongoing global recession and financial crisis on credit growth in Sub-Saharan Africa.
International Convergence Of Capital Measurement And Capital Standards
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Author :
language : en
Publisher: Lulu.com
Release Date : 2004
International Convergence Of Capital Measurement And Capital Standards written by and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Bank capital categories.
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.