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Lines of monetary transmission optimization under conditions of transition economy

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  • Lepushynskyy, Volodymyr

Abstract

An essential condition of the effectiveness of price-stability-based monetary regime is availability of an efficient mechanism for transmission of monetary policy impulses to the real sector of economy. Characteristic of the economy of Ukraine, the same as many other transition economies is the existence of institutional and structural factors that reduce the effectiveness of monetary transmission mechanism. This paper discusses the above mentioned factors and measures aimed to strengthen the efficiency of transmission mechanism of monetary policy.

Suggested Citation

  • Lepushynskyy, Volodymyr, 2008. "Lines of monetary transmission optimization under conditions of transition economy," MPRA Paper 10102, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:10102
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    References listed on IDEAS

    as
    1. Andrew Berg & Eduardo Borensztein, 2000. "The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies," Journal of Applied Economics, Taylor & Francis Journals, vol. 3(2), pages 285-324, November.
    2. Katerina Smidkova, 2004. "The transmission mechanism of monetary policy at the beginning of the third millennium," Macroeconomics 0403012, University Library of Munich, Germany.
    3. Georgy Ganev & Krisztina Molnar & Krzysztof Rybinski & Przemyslaw Wozniak, 2002. "Transmission Mechanism of Monetary Policy in Centraland Eastern Europe," CASE Network Reports 0052, CASE-Center for Social and Economic Research.
    4. Balázs Égert & Ronald MacDonald, 2006. "Monetary Transmission Mechanism in Transition Economies: Surveying the Surveyable," MNB Working Papers 2006/5, Magyar Nemzeti Bank (Central Bank of Hungary).
    5. Piontkovsky Ruslan, 2003. "Dollarization, Inflation Volatility and Underdeveloped Financial Markets in Transition Economies," EERC Working Paper Series 03-02e, EERC Research Network, Russia and CIS.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    monetary policy; monetary transmission mechanism; transition economy;
    All these keywords.

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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