Government Securities Versus Central Bank Securities in Developing Open Market Operations : Evaluation and Need for Coordinating Arrangements »
Series: IMF Working Papers
Author(s): Marc Quintyn
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 May 1994
Keywords: central bank, monetary policy, government securities, debt management, monetary management
In an indirect monetary policy framework, open market operations become the central bank’s main instrument. In the initial stages, when financial markets are still undeveloped, selection of a financial instr...