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Monetary Control Procedures and Financial Reform: Approaches, Issues, and Recent Experiences in Developing Countries

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  • International Monetary Fund

Abstract

Many countries have initiated reforms in their monetary control procedures by relaxing direct controls and increasing the role of market processes. The changed approach is often inevitable when countries reform their financial systems in support of growth and adjustment. This is because reform of those procedures increases the scope of monetary policy for stabilization purposes and allows for more flexible arrangements for setting interest rates and allocating credit that are necessary elements in improving resource mobilization and the efficiency of investment. This paper discusses the approaches to reforming monetary instruments, the issues in implementation, and experiences in developing countries.

Suggested Citation

  • International Monetary Fund, 1989. "Monetary Control Procedures and Financial Reform: Approaches, Issues, and Recent Experiences in Developing Countries," IMF Working Papers 1989/048, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1989/048
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    Citations

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    Cited by:

    1. Juan Andrés Fontaine, 1991. "La Administración de la Política Monetaria en Chile, 1985-89," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 28(83), pages 109-130.
    2. International Monetary Fund, 1991. "Financial Sector Reforms and Monetary Policy," IMF Working Papers 1991/127, International Monetary Fund.

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