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Monetization in low- and middle-income countries

McLoughlin, Cameron; Kinoshita, Noriaki - 2012

The degree of an economy's monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal GDP--...

Persistent link: https://www.econbiz.de/10009618525

Suppressed Inflation and Money Demand in Zimbabwe.

Muñoz, Sònia - 2006

Persistent link: https://www.econbiz.de/10012691083

Broad Money Demand and Asset Substitution in China

Wu, Ge - 2009

Recent changes to China's financial system, in particular ongoing interest rate liberalization, gradual movement toward a more flexible exchange rate regime, and rapid development of capital markets, have changed substantially the environment in which monetary policy operates. In light of these...

Persistent link: https://www.econbiz.de/10012677797

Excess Liquidity and the Effectiveness of Monetary Policy; Evidence From Sub-Saharan Africa

Saxegaard, Magnus - International Monetary Fund (IMF) - 2006

This paper examines the pattern of excess liquidity in sub-Saharan Africa and its consequences for the effectiveness of monetary policy. The paper argues that understanding the consequences of excess liquidity requires quantifying the extent to which commercial bank holdings of excess liquidity...

Persistent link: https://www.econbiz.de/10005826003

The Payments Systems Reforms and Monetary Policy in Emerging Market Economies in Central and Eastern Europe

International Monetary Fund (IMF); International … - 1994

The paper discusses the interrelationships between payments system reform and monetary policy implementation in selected countries in Central and Eastern Europe. The reforms in the payments system are viewed as closely interrelated with the development of money and foreign exchange markets and...

Persistent link: https://www.econbiz.de/10005826638

Inflation in Tajikistan; Forecasting Analysis and Monetary Policy Challenges

Vtyurina, Svetlana; Alturki, Fahad - International Monetary Fund (IMF) - 2010

This paper attempts to explain short- and long-term dynamics of-and forecast-inflation in Tajikistan using the Vector Error Correction Model (VECM) and Autoregressive Moving Average Model (ARMA). By analyzing different transmission channels through the VECM, we were able to evaluate their...

Persistent link: https://www.econbiz.de/10008519491

The Payments System and its Effectson Monetary Operations; Recent Experience in the Russian Federation

International Monetary Fund (IMF); International … - 1994

Recent developments and reforms in the Russian payments system are discussed from the perspective of their impact on monetary policy. The large and highly variable payment float in the balance sheet of the Central Bank of Russia has complicated the conduct of monetary policy. However, reforms in...

Persistent link: https://www.econbiz.de/10008671310

Procyclicality and the Search for Early Warning Indicators

Shin, Hyun Song - International Monetary Fund (IMF) - 2013

market prices, those based on normalized measures of total credit and those based on liabilities of financial intermediaries … credit and liabilities convey similar information and perform better as early warning indicators, but liabilities are more …

Persistent link: https://www.econbiz.de/10011142177

An Anatomy of Credit Booms

Terrones, Marco - 2008

We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic … relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits …. Micro data show a strong association between credit booms and leverage ratios, firm values, and banking fragility. We also …

Persistent link: https://www.econbiz.de/10012677365

Are Weak Banks Leading Credit Booms? Evidence from Emerging Europe

Igan, Deniz - 2008

-level data for central and eastern Europe and controlling for the feedback effect of credit growth on bank soundness. No evidence … credit booms supervisors need to carefully monitor the soundness of rapidly expanding banks and stand ready to take ac …

Persistent link: https://www.econbiz.de/10012677467

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