9 Safety-First Monetary and Financial Policies for Emerging Economies
Author: Andrew Powell1
  • 1 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund
Language:
English
Keywords:
SEM; market; bank; rating; market participant; market discipline; IMF surveillance; risk profile; government regulator; Financial sector stability; Credit; Credit risk; Financial Sector Assessment Program; Global; Europe; Southeast Asia; East Asia; Asia and Pacific; opportunity cost; liquidity Policy; liquidity policy; liquidity position; country banking sectors; Commercial banks; Exchange rate arrangements; Liquidity; Exchange rates; Floating exchange rates

Abstract

Recent crises have highlighted the need for countries to adopt safety-first strategies rather than adopting strategies that might maximize short-term growth. In this paper, I consider three central policy areas: exchange rate regimes, liquidity policies, and banking sector policies, in an attempt to give a better picture of safety-first strategies. These are, in themselves, three very broad areas and, consequently, the treatment is highly selective. Moreover, in each area there is already a substantial literature. Hence, once again, selectivity wins over comprehensiveness in an attempt to add value.

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Author: Mr. Omotunde E. G. Johnson
ISBN:
9781589060128
Publication Date:
29 Apr 2002
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589060128.072
Pages:
570