Transformation of Markets and Policy Instruments for Open Market Operations

Transformation of Markets and Policy Instruments for Open Market Operations
Author :
Publisher : International Monetary Fund
Total Pages : 98
Release :
ISBN-13 : 9781451856590
ISBN-10 : 1451856598
Rating : 4/5 (98 Downloads)

Book Synopsis Transformation of Markets and Policy Instruments for Open Market Operations by : Mr.S. H. Axilrod

Download or read book Transformation of Markets and Policy Instruments for Open Market Operations written by Mr.S. H. Axilrod and published by International Monetary Fund. This book was released on 1995-12-01 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: As developing countries and economies in transition have relied on deregulated, competitive markets to spur growth, their central banks have shifted toward using open market operations as a tool of monetary policy. To be most effective, such operations require supportive changes in other policy instruments (reserve requirements, discount window), a competitive banking system and securities market, and adaptation of particular open market or market-type instruments used to the stage of, and potential for, market development. The paper assesses options available to a central bank for encouraging a competitive market architecture and designing instruments for implementation of open market operations.


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