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

66 Pages Posted: 15 Feb 2006

See all articles by R. Barry Johnston

R. Barry Johnston

International Monetary Fund (IMF)

Odd Per Brekk

affiliation not provided to SSRN

Date Written: June 2, 1989

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.

JEL Classification: 1210, 3100

Suggested Citation

Johnston, R. Barry and Brekk, Odd Per, Monetary Control Procedures and Financial Reform: Approaches, Issues, and Recent Experiences in Developing Countries (June 2, 1989). IMF Working Paper, Vol. , pp. 1-66, 1989. Available at SSRN: https://ssrn.com/abstract=884806

R. Barry Johnston (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

Odd Per Brekk

affiliation not provided to SSRN

No Address Available

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