Series: Policy Papers
Author(s): International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 16 April 2012
Keywords: Background papers, Banks, Emerging markets, Financial sector, Financial stability, Financial systems, Low-income developing countries, Surveillance, Real sector, Financial crises
This note provides an overview of the literature on the challenges posed by shallow financial systems for macroeconomic policy implementation. Countries with shallow markets are more likely to choose fixed exchange...