Market-Based Systems of Monetary Control in Developing Countries: Operating Procedures and Related Issues

Author/Editor:

Chorng-Huey Wong

Publication Date:

April 1, 1991

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 issues in the development of a market-based system of monetary control in developing countries. It focuses on the appropriate sequencing of financial reform that would facilitate the transition toward a market-based system and measures required to strengthen the effectiveness of market-based operations. The paper also assesses the effects of financial reform on the demand for money function and discusses the implications for policy formulation and implementation.

Series:

Working Paper No. 1991/040

Subject:

Banking Central banks Demand for money Financial institutions Government securities Monetary base Money Open market operations Treasury bills and bonds

English

Publication Date:

April 1, 1991

ISBN/ISSN:

9781451845877/1018-5941

Stock No:

WPIEA0401991

Pages:

30

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