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In recent years a number of countries have undertaken far-reaching reforms of their financial sectors. Generally speaking, financial sector reforms aim at achieving greater flexibility of interest rates, an enhanced role for market forces in credit allocation, increased independence for the...
Persistent link: https://www.econbiz.de/10014398013
This paper analyzes the evolution and effectiveness of Indonesia’s monetary control system following the financial reforms implemented since 1983. These reforms entailed the abolition of interest rate and credit ceilings, a change in the central bank’s funding role, the introduction of new...
Persistent link: https://www.econbiz.de/10014396201
Financial sector reform in the Baltic countries is reviewed in light of the banking crises that emerged during the … reform period. It is argued that the crises had their roots in the structural deficiencies specific to planned economies and … systemic effects and a minor negative impact on output and incomes. The crises slowed down the financial reform process, but …
Persistent link: https://www.econbiz.de/10014398351
tax-free deposits to households. The paper also challenges the argument that the reform caused a loss of monetary autonomy …
Persistent link: https://www.econbiz.de/10014396052
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...
Persistent link: https://www.econbiz.de/10014396077