Financial Sector Reform and Central Banking in Centrally Planned Economies

Author/Editor:

International Monetary Fund

Publication Date:

December 1, 1990

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper reviews key areas of central banking reform in a sample of centrally planned economies undergoing transition to market-based systems. The discussion draws mainly on the experiences of four countries, Hungary, Poland, Czechoslovakia, and China. Significant efforts have been made, or are under consideration, in all countries to develop a more efficient framework for monetary management, and to provide greater autonomy to central banks in macro stabilization policies. These objectives call for a coordinated approach to strengthening a wide range of central banking functions simultaneously, and require that a core mass of supporting financial sector reforms be implemented to ensure effective transformation and stabilization with minimal transitional costs.

Series:

Working Paper No. 90/120

Subject:

English

Publication Date:

December 1, 1990

ISBN/ISSN:

9781451939569/1018-5941

Stock No:

WPIEA1201990

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

24

Please address any questions about this title to publications@imf.org