Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries write by International Monetary Fund. This book was released on 2015-10-23. Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries available in PDF, EPUB and Kindle. Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries — Background Paper — Country Experiences
Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries — Background Paper — Country Experiences - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries — Background Paper — Country Experiences write by International Monetary Fund. This book was released on 2015-10-27. Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries — Background Paper — Country Experiences available in PDF, EPUB and Kindle. This background paper focuses on the experiences of evolving monetary policy frameworks in nine individual countries and three thematic groupings of countries. The country case studies are complemented by analyses of common issues faced by countries in currency unions in the CFA franc zone, selected resource rich countries, and advanced economies and emerging markets during their modernization process of monetary policy regimes. Finally, the background paper also contains a discussion on the benefits of effective communication in conducting monetary policy.
Monetary Policy Frameworks: An Index and New Evidence
Monetary Policy Frameworks: An Index and New Evidence - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Monetary Policy Frameworks: An Index and New Evidence write by D. Filiz Unsal. This book was released on 2022-01-28. Monetary Policy Frameworks: An Index and New Evidence available in PDF, EPUB and Kindle. We provide a multidimensional characterization of monetary policy frameworks across three pillars: Independence and Accountability, Policy and Operational Strategy, and Communications (IAPOC). We construct the IAPOC index by analyzing central banks’ laws and websites for 50 advanced economies, emerging markets, and low-income developing countries, from 2007 to 2018. Due to its scope and granularity, our index provides a holistic view of monetary policy frameworks which goes beyond existing measures of transparency or independence, as well as monetary policy or exchange rate regime classifications. Comparing the IAPOC index across countries and over time, we find that monetary policymaking is varied, fast-changing, and eclectic across the Policy and Operational Strategy and Communications pillars, especially in emerging markets and low-income developing countries.
Conditionality in Evolving Monetary Policy Regimes
Conditionality in Evolving Monetary Policy Regimes - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Conditionality in Evolving Monetary Policy Regimes write by International Monetary Fund. This book was released on 2014-05-03. Conditionality in Evolving Monetary Policy Regimes available in PDF, EPUB and Kindle. With single-digit inflation and substantial financial deepening, developing countries are adopting more flexible and forward-looking monetary policy frameworks and ascribing a greater role to policy interest rates and inflation objectives. While some countries have adopted formal inflation targeting regimes, others have developed frameworks with greater target flexibility to accommodate changing money demand, use of policy rates to signal the monetary policy stance, and implicit inflation targets.
Can a Rule-Based Monetary Policy Framework Work in a Developing Country? The Case of Yemen
Can a Rule-Based Monetary Policy Framework Work in a Developing Country? The Case of Yemen - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Can a Rule-Based Monetary Policy Framework Work in a Developing Country? The Case of Yemen write by Selim Elekdag. This book was released on 2007-01-01. Can a Rule-Based Monetary Policy Framework Work in a Developing Country? The Case of Yemen available in PDF, EPUB and Kindle. Monetary policy in Yemen is largely rudimentary and ad hoc in nature. The Central Bank of Yemen's (CBY) approach has been based on discretionary targeting of broad money without any clear target to anchor inflation expectations. This paper argues in favor of a new formal monetary policy framework for Yemen emphasizing a proactive and rule-based approach with a greater direct focus on price stability in the context of a flexible management of the exchange rate. Although, as in many developing countries, institutional capacity is a concern, adopting a more formal framework could impel the kind of changes that are required to strengthen the ability of the CBY in achieving low and stable rates of inflation over the medium term.
