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I Introduction

I Introduction »

Source: The Adoption of Indirect Instruments of Monetary Policy

Series: Occasional Papers

Author(s): Tomás Baliño , Charles Enoch , and William Alexander

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 1995

ISBN: 9781557754899

Keywords: central bank, monetary policy, banking, monetary control, banking system

In the late 1970s, industrial countries began phasing out the direct instruments some of them used to operate monetary policy—including credit controls, interest rate ceilings, and sometimes directed credits...

I Introduction

I Introduction »

Source: The Adoption of Indirect Instruments of Monetary Policy

Series: Occasional Papers

Author(s): Tomás Baliño , Charles Enoch , and William Alexander

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 1995

ISBN: 9781557754899

Keywords: central bank, monetary policy, banking, monetary control, banking system

Part II provides additional details on selected countries’ experiences with the introduction of indirect instruments. It consists of seven case studies (Chile, Egypt, Ghana, Indonesia, Mexico, New Zealand, a...

II Chile

II Chile »

Source: The Adoption of Indirect Instruments of Monetary Policy

Series: Occasional Papers

Author(s): Tomás Baliño , Charles Enoch , and William Alexander

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 1995

ISBN: 9781557754899

Keywords: central bank, monetary policy, banking, monetary control, banking system

The transition to indirect instruments of monetary policy in Chile started as early as 1974, as part of a broad package of economic liberalization measures. The most important reforms in the monetary policy...

II Direct and Indirect Monetary Instruments

II Direct and Indirect Monetary Instruments »

Source: The Adoption of Indirect Instruments of Monetary Policy

Series: Occasional Papers

Author(s): Tomás Baliño , Charles Enoch , and William Alexander

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 1995

ISBN: 9781557754899

Keywords: central bank, monetary policy, banking, monetary control, banking system

Modes of Operation In implementing monetary policy, a central bank can act in two ways: directly through its regulatory powers, or indirectly through its influence on money market co...

III Egypt

III Egypt »

Source: The Adoption of Indirect Instruments of Monetary Policy

Series: Occasional Papers

Author(s): Tomás Baliño , Charles Enoch , and William Alexander

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 1995

ISBN: 9781557754899

Keywords: central bank, monetary policy, banking, monetary control, banking system

Egypt’s transition to indirect instruments of monetary policy has two salient elements: pervasive distortions in the economy at the outset of the transition and a drastic improvement in expectations about th...

III Issues in the Reform of Monetary Instruments

III Issues in the Reform of Monetary Instruments »

Source: The Adoption of Indirect Instruments of Monetary Policy

Series: Occasional Papers

Author(s): Tomás Baliño , Charles Enoch , and William Alexander

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 1995

ISBN: 9781557754899

Keywords: central bank, monetary policy, banking, monetary control, banking system

Monetary policy is a major component of economic policy in market economies and an important part of IMF-supported adjustment programs. The central bank in most countries is assigned the primary responsibili...

A New Database of Financial Reforms

A New Database of Financial Reforms »

Volume/Issue: 2008/266

Series: IMF Working Papers

Author(s): Enrica Detragiache , Abdul Abiad , and Thierry Tressel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2008

DOI: http://dx.doi.org/10.5089/9781451871241.001

ISBN: 9781451871241

Keywords: Financial liberalization, financial reforms, banking, financial reform, banking supervisory agency,

This paper introduces a new database of financial reforms, covering 91 economies over 1973–2005. It describes the content of the database, the information sources utilized, and the coding rules used to creat...

An Investigation of Output Variance Before and During Inflation Targeting

An Investigation of Output Variance Before and During Inflation Targeting »

Volume/Issue: 2001/215

Series: IMF Working Papers

Author(s): Francisco Nadal De Simone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

DOI: http://dx.doi.org/10.5089/9781451875041.001

ISBN: 9781451875041

Keywords: output variance, Markov-switching, inflation, reduction in inflation, inflation-targeting, Econometric Methods: - Multiple/simultaneous Equation Models, Central Banking, And The Supply Of Money And Credit, macroeconomic Aspects Of International Trade And Finance,

Since Taylor estimated a trade-off between inflation and output variance, it has been widely accepted that efforts to keep the inflation rate “too low and stable” will likely result in relatively larg...

Financial Fragility and Economic Performance in Developing Economies
			: Do Capital Controls, Prudential Regulation and Supervision Matter?

Financial Fragility and Economic Performance in Developing Economies : Do Capital Controls, Prudential Regulation and Supervision Matter? »

Volume/Issue: 1999/66

Series: IMF Working Papers

Author(s): Marco Rossi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1999

DOI: http://dx.doi.org/10.5089/9781451848779.001

ISBN: 9781451848779

Keywords: Financial Crises, Capital Account Convertibility, Prudential Regulation, Supervision, Deposit Insurance, Economic Performance, banking, capital controls, capital account liberalization, capital inflows

Little empirical investigation exists of the links among capital account liberalization, prudential regulation and supervision, financial crises, and economic development, mainly because of the lack of comparable m...

Global Moral Hazard, Capital Account Liberalization and the 'Overlending Syndrome'

Global Moral Hazard, Capital Account Liberalization and the 'Overlending Syndrome' »

Volume/Issue: 1999/100

Series: IMF Working Papers

Author(s): Eduardo Levy Yeyati

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1999

DOI: http://dx.doi.org/10.5089/9781451852387.001

ISBN: 9781451852387

Keywords: Banking Crises, Capital Account Liberalization, Deposit Insurance, Moral Hazard, international capital, deposit rates, international capital markets

The removal of government guarantees in borrowing countries does not eliminate the moral hazard problem posed by the existence of deposit guarantees in lender countries. The paper shows that, after restrictions on...