Monetary Instruments and their Use During the Transition From a Centrally Planned to a Market Economy »
Series: IMF Working Papers
Author(s): Paul Hilbers
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 November 1993
Keywords: central bank, banking, monetary policy, banking sector, reserve requirements
This paper discusses different instruments of monetary policy, and in particular the choice between direct and indirect instruments. It identifies the main characteristics of a country’s financial system tha...