The Evolving Role of Central Banks
Back Matter

Back Matter

Patrick Downes, and Reza Vaez-Zadeh
Published Date:
June 1991
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Selected Bibliography

Part I. Role and Functions of Central Banks

    AhmedA.K.N.“Role of Central Bank in Economic Development—Financing of Public and Private Sectors,”Commerce (Bombay) Vol. 154 (January101987) pp. 1423.

    AlbersNorman“Electronic Fund Transfers und die Geldpolitik,”Zeitschrift fur das Gesamte KreditwesenVol. 41 (May11988) pp. 36672.

    AtkinsonP.E.A.Blundeil-Wignall andJ.C.Chouraqui“Budget Financing and Monetary Targets, with Special Reference to the Seven Major OECD Countries,”Économies el Sociétés (Paris) Vol. 17 (July/August1983) pp. 105796.

    AuernheimerLeonardo“The Honest Government’s Guide to the Revenue from the Creation of Money,”Journal of Political Economy (Chicago) Vol. 82 (May/June1974) pp. 598606.

    Australian Payment System CouncilThe Australian Payment System (The Council1987).

    Bank for International SettlementsExchange Market Management and Monetary Policy (Basle1988) pp. ixiii11–29,65–96, 188–200.

    BhattV.V.“Financial Innovation and Credit Market Development,”Policy Planning and Research Working Papers No. 52 (Washington: World Bank1989).

    ChandavarkarAnandG.“Promotional Role of Central Banks in Developing Countries,”IMF Working Paper No. 87/20 (unpublishedWashington: International Monetary Fund1987).

    CollynsCharlesAlternatives to the Central Bank in the Developing WorldOccasional Paper No. 20 (Washington: International Monetary Fund1983).

    CummingChristine M.“Government Deficits and Monetary Control in Three Industrial Countries,”Research Paper No. 8205Federal Reserve Bank of New York (January1982).

    CunninghamThomasJ.“Long-Run Outcome of a Permanent Deficit,”Economic Review Federal Reserve Bank of AtlantaVol. 71 (May1986) pp. 2533.

    DemopoulosGeorgD. andGeorge M.Katsimbris“Central Bank Policy and the Financing of Government Budget Deficits: A Cross-Country Comparison,”Economic PapersNo. 19European Communities, Commission, Directorate General for Economic and Financial Affairs (September1983) pp. 156.

    DemopoulosGeorgD. andGeorge M.Katsimbris andStephen M.Miller“Monetary Policy and Central Bank Financing of Government Budget Deficits: A Cross-Country Comparison,”European Economic Review (Amsterdam) Vol. 31 (July1987) pp. 102350.

    DowdKevinThe State and the Monetary System (Hemel Hempstead, England1989).

    FaulhaberG.R.A.Phillips andA.M.Santomero“Payment Risk, Network Risk and the Role of the Fed,” in U.S. Payment System: Efficiency Risk and the Role of the Federal Reserve Systemed. byDavid B.Humphrey (Boston: Kluwer Academic Publishers1989) pp. 197213.

    FischerStanley“Seignorage and the Case for a National Money,”Journal of Political Economy (Chicago) Vol. 90 (April1982) pp. 295313.

    HodgmanDonald R. andRobert W.Resek“Central Bank Exchange Rate Policy,”BEBR Faculty Working PaperNo. 117University of Illinois at Urbana—Champaign Bureau of Economic and Business Research (March1985).

    LeoneAlfredo“Effectiveness and Implications of Limits on Central Bank Credit to the Government” (unpublishedWashington: International Monetary FundOctober1990).

    McEnteeElliotC.“The Federal Reserve’s Role in Controlling U.S. Payment System Risk in the U.S.,”World of Banking (Rolling Meadows, Illinois) Vol. 7 (May/June1988) pp. 1822.

    MengleDavidL.“Legal and Regulatory Reform in Electronic Payments: An Evaluation of Payment Finality Rules,” in U.S. Payment System: Efficiency Risk and the Role of the Federal Reserve Systemed. byDavid B.Humphrey (Boston: Kluwer Academic Publishers1989) pp. 14580.

    MerrickJohn J.Jr. andAnthonySaunders“Bank Regulation and Monetary Policy,”Journal of Money Credit and Banking (Columbus) Vol. 17 (November1985) Part 2 pp. 691717.

    MeucheKurt“Blueprint for New Domestic and Cross-Border Settlement Systems,”World of Banking (Rolling Meadows Illinois)Vol. 9 (January/February1990) pp. 1619.

    MeyerHans“Implications of the Swiss Interbank Clearing System for Central Bank Policy,”World of Banking (Rolling Meadows Illinois) Vol. 6 (January/February1987) pp. 2628.

    MullerHJ.“Mr. Muller Discusses Banking Supervision in a Market-Oriented Financial System,”BIS ReviewBank for International Settlements (Basle) (January1990).

    Organization for Economic Cooperation and DevelopmentBudget Financing and Monetary Control (Paris1982).

    Organization for Economic Cooperation and DevelopmentExchange Rate Management and the Conduct of Monetary PolicyOECD Monetary Studies Series (Paris1984).

    Padoa-SchioppaTommaso“Role of Central Banks: The Issue of Risk in Payment Systems,”World of Banking (Rolling Meadows Illinois)Vol. 7 (May/June1988) pp. 1317.

    ParkinMichael“Domestic Monetary Institutions and Fiscal Deficits,”Working Paper No. 8605cUniversity of Western Ontario, Center for the Study of International Economic Relations (February1986).

    PecchioliR.M.Prudential Supervision in Banking (Paris: Organization for Economic Cooperation and Development (1987).

    PolizattoVincentP.“Prudential Regulation and Banking Supervision: Building an Institutional Framework for Banks,”Policy Planning and Research Working PapersNo. 340 (Washington: World Bank1990).

    RadcliffeNicola“Towards Uniformity in the Rules Governing Electronic Funds Transfers,”Butterworths Journal of International Banking and Financial Law (United Kingdom) Vol. 3 (June1988) pp. 36466.

    RangarajanC.“Central Banking and Economic Development: Indian Experience,”Bulletin Reserve Bank of IndiaVol. 42 (August1988) pp. 64548.

    RevellJ.R.S.Banking and Electronic Fund Transfers (Paris: Organization for Economic Cooperation and Development1983).

    RimalBimallNathThe Role of Central Banks in Development Finance: Experience of South-East Asian Central Banks (Petaling Jaya, Malaysia: SEACAN Research and Training Centre1984).

    RobinsonDavidJ. andPeterStella“Amalgamating Central Bank and Fiscal Deficits,” in Measurement of Fiscal Impact: Methodological Issuesed. byMario I.Blejer andKe-YoungChuOccasional Paper, No. 59 (Washington: International Monetary FundJune1988) pp. 2031.

    TabelliniGuido“Central Bank Reputation and the Monetization of Deficits: The 1981 Italian Monetary Reform,”Economic Inquiry (Long Beach, California) Vol. 25 (April1987) pp. 185200.

    TeijeiroMarioO.“Central Bank Losses: Origins, Conceptual Issues, and Measurement Problems,”Policy Planning and Research Working PapersNo. 293 (Washington: World Bank1989).

    TurnovskyStephenJ. andMark E.Wohar“Alternative Models of Deficit Financing and Endogenous Monetary and Fiscal Policy 1923–1982,”NBER Working Paper No. 2123 (Cambridge, Massachusetts: National Bureau of Economic Research1987).

    VillanuevaDelano andAbbasMirakhor“Strategies for Financial Reforms: Interest Rate Policies, Stabilization, and Bank Supervision in Developing Countries”Staff PapersInternational Monetary Fund (Washington) Vol. 37No. 3 (September1990) pp. 50936.

    VinayB.“Les Banques Centrales de la Zone Franc et le Developpement Monetaire”Revue Juridique et Politique Independence et Coopération (Paris) Vol. 32 (July/September1978) pp. 93548.

    WallerChristopherJ.“Deficit Financing and the Role of the Central Bank—A Game Theoretic Approach,”Atlantic Economic Journal (Worden, Illinois) Vol. 15 (July1987) pp. 2532.

    “World Development Report: Financial Sector Reform Proves Beneficial when Macroeconomic Environment Is Stable,”IMF Survey (Washington) (July101989) pp. 209215–17.

    Zenkoku Ginko Kyokai RengokaiPayment Systems in Japan (Tokyo: Federation of Bankers Associations of Japan1988).

Part II. Central Bank Independence

    AdamNigel“Over the Horizon: A European Central Bank,”International ManagementVol. 43 (April1988) pp. 3940.

    AgliettaMichel“Union Monetaire et Banque Centrale,”Revue d’Economie Financiere No. 819 (March/June1989) pp. 15065.

    ArancibiaSergio“La Auditoria y los Sistemas: El Caso del Banco Central de Chile,”Monetaria (Mexico) Vol. 21 (October–December1988) pp. 46276.

    AuerbachRobert D.“Politics and the Federal Reserve,”Contemporary Policy Issues (Long Beach) Vol. 3 (Fall1985) pp. 4358.

    AxilrodStephenH.“Central Bank Credibility: An Alternative to Private Money,”Cato JournalVol. 9 (Fall1989) pp. 36366.

    BanaianKing andLeroy O.Laney“Central Bank Independence: An Analysis,”Auszuge Aus PresseartikelnNo. 101Deutsche Bundesbank (October1983) pp. 911.

    BanaianKing andLeroy O.Laney andThomas D.Willett“Central Bank Independence: An International Comparison,”Economic ReviewFederal Reserve Bank of Dallas (March1983) pp. 113.

    Banque des Etats de l’Afrique CentraleLa B.E.A.C. à Dix Ans (Yaoundé, Cameroon1983).

    Banque des Etats de l’Afrique Centrale“Réglementation des Changes et Sorties des Capitaux dans les Etats Membres de la BEAC,”Etudes et Statistiques No. 138 (December1986) pp. 23866.

    BejotJean-Pierre“CFA, Comment vastu?”Jeune Afrique Economie No. 115–16 (January/February1989) pp. 7883.

    BlackburnKeith andMichaelChristensen“Monetary Policy and Policy Credibility: Theories and Evidence,”Journal of Economic Literature (Nashville) Vol. 29 (March1989) pp. 145.

    BodartVincent“Central Bank Independence and the Effectiveness of Monetary Policy: A Comparative Analysis” (unpublishedWashington: Central Banking Department, International Monetary FundAugust1990).

    “Book Explores Issues Relating to a Centralized European Monetary Authority,”IMF Survey (Washington) Vol. 27 (November271989) p. 357.

    BurdekinRichardC.K.“Swiss Monetary Policy: Central Bank Independence and Stabilization Goals,”Kredit und Kapital (Berlin) Vol. 20No. 4 (1987) pp. 45466.

    BurdekinRichardC.K. andLeroy O.Laney“Fiscal Policymaking and the Central Bank Institutional Constraint,”Kyklos (Basle) Vol. 41No. 4 (1988) pp. 64762.

    BurnsArthurF.“The Importance of an Independent Central Bank,”Federal Reserve BulletinBoard of Governors of the Federal Reserve System (Washington) Vol. 63 (September1977) pp. 77781.

    Byung-JongLee“Independence within Government”Business Korea (Seoul) Vol. 5 (September1987) pp. 2829.

    Castello-BrancoMarta“Central Bank Independence: The Chilean Case” (unpublishedWashington: International Monetary FundSeptember1990).

    ChristensenMichael“Monetary Policy and Policy Credibility: Some Recent Developments,”Memo No. 1986/12Aarhus Universitet, Okonomisk Institut1986.

    Cua Dernos de Economia, No. 77 (April1989) contains several articles on central bank independence in Chile.

    CukiermanAlex“Central Bank Behavior and Credibility: Some Recent Theoretical Developments,”Review Federal Reserve Bank of St. LouisVol. 68 (May1986) pp. 517.

    DaweStephen“The Reserve Bank of New Zealand Act 1989,”BulletinReserve Bank of New Zealand (March1990) pp. 2936.

    De CeccoMarcello andAlbertoGiovanninieds.A European Central Bank? Perspectives on Monetary Unification after Ten Years of the EMS (Cambridge, New York: Cambridge University Press1989).

    DowdKevin“The Case Against a European Central Bank,”World Economy (Oxford) Vol. 12 (September1989) pp. 36172.

    DuisenbergWim“European Central Bank—Five Questions Need an Answer,”European Affairs (Amsterdam) Vol. 2(Autumn1988) pp. 12834.

    EizengaWietze“Independence of the Federal Reserve System and of the Netherlands Bank: A Comparative Analysis,”SUERF Series No. 41ASociété Universitaire Européene de Recherches Financières (Netherlands) (1983) pp. 117.

    EizengaWietze“Independence of the Deutsche Bundesbank and the Nederlandsche Bank with Regard to Monetary Policy: A Comparative Study,”SUERF Papers on Monetary Policy and Financial Systems No. 2Société Universitaire Européene de Recherches Financières (Netherlands) (1987) pp. 121.

    EpsteinGeraldA. andJuliet B.Schor“Divorce of the Banca d’Italia and the Italian Treasury: A Case Study of Central Bank Independence,”Discussion Paper Series No. 1269Harvard Institute of Economic Research (September1986).

    “European Central Bank: A Status Report on Current Institutional Debate,”ECU Newsletter (Turin) No. 24 (April1988) pp. 1721.

    European Community Committee for the Study of Economic and Monetary Union:Report on Economic and Monetary Union in the European Community (Brussels: European Communities1989) pp. 2438.

    FrenkelA.Jacob andMorrisGoldstein“Monetary Policy in an Emerging European Economic and Monetary Union: Key Issues”IMF Working Paper No. 90/73 (unpublishedWashington: International Monetary FundAugust1990).

    HardouvelisGikasA. andScott W.Barnhart“Evolution of Federal Reserve Credibility: 1978–1984,”Research Paper No. 8809Federal Reserve Bank of New York (March1988).

    JobertMichel“Pouvoir Politique et Banque Centrale Européene,”EurepargneNo. 25 (October1988) pp. 2025.

    KlotenNorbert“A European Central Bank System as a Monetary Policy Alternative,”Auszeuge aus PresseartikelnDeutsche Bundesbank (June231988).

    LhoneuxEtienne de andJean-VictorLouis“Towards a European System of Central Banks,”Journal of International Banking Law (Oxford) Vol. 5No. 1 (1990) pp. 816.

    LlewellynDavid“Monetary Union in Europe,”Banking World (London) (November1988) pp. 3032.

    LlewellynDavid“Monetary Union in Europe: The Problems,”Banking World (London) Vol. 6 (December1988) pp. 4245.

    LoehnisAnthony“European Currency and European Central Bank: A British View,”Quarterly BulletinBank of England (London) Vol. 28 (August1988) pp. 35055.

    MacArthurAlan“Monetary Operations, Financial Market Development and Central Bank Independence” (unpublished manuscriptWashington: International Monetary FundSeptember1990).

    McCallumBennetT.“Credibility and Monetary Policy,”NBER Working Paper No. 1490 (Cambridge, Massachusetts: National Bureau of Economic ResearchNovember1984).

    N’GuessanTchetche“Un Système de Contrôle du comportement bureaucratique de la banque Centrale,”Revue d’Economie Politique (Paris) Vol. 99 (September/October1989) pp. 73443.

    NascimentoJean-Claude“Monetary Policy in Unified Currency Areas: The Cases of the CAMA and ECCA” (unpublishedWashington: International Monetary FundSeptember271990).

    O’BrienLeslieKenneth andBaron O’Brien of Lothbury“The Independence of Central Banks,”Comptes Rendus No. 404 (Brussels: Société Royale d’Economie Politique de Belgique1977).

    OlaOlaniyi“Balancing the Forces,”West AfricaNo. 3741 (May1–71989) p. 678.

    PoehlKarlOtto“Rules for Europe’s Central Bank,”Journal of Commerce (New York) February121990 p. 8A.

    Reserve Bank of New ZealandAnnual Report of the Directors and Statement of Accounts for the Year Ended … (Wellington: Reserve Bank of New Zealand1988/89).

    Reserve Bank of New Zealand“Reserve Bank of New Zealand Policy Targets Agreement,”BulletinReserve Bank of New Zealand (March1990) pp. 2628.

    Reserve Bank of New ZealandMonetary Targets Statement (Wellington: Reserve Bank of New ZealandApril1990).

    ScharrerHans-Eckart“European Central Bank?”Intereconomics Review of International Trade and Development (Hamburg) Vol. 23 (March/April1988) pp. 5354.

    SwinburneMark andMartaCastello-Branco“Central Bank Independence and Central Bank Functions” (unpublishedWashington: International Monetary FundDecember1989).

    ThygessenNiels“Propositions pour une Banque Centrale Européene,”Revue Francaise d’EconomieVol. 4 (Winter1989) pp. 338.

    WallerChristopherJ.“Monetary Policy Games and Central Bank Politics,”Journal of Money Credit and Banking (Columbus) Vol. 21 (November1989) pp. 42231.

    WieczorekNorbet“Monetary Plan for Europe,”International EconomyVol. 11 (November/December1988) pp. 5557.

Part III Role of the Central Bank in Financial Crises

    AbramsBurtonA. andCliff J.Huang“Predicting Bank Failures: The Role of Structure in Affecting Recent Failure Experiences in the USA,”Applied Economics (London) Vol. 19 (October1987) pp. 12911302.

    BagehotWalterLombard Street: A Description of the Money Market (London: John Murray1924).

    BaliñoTomásJ.T.“The Argentine Banking Crisis of 1980,”IMF Working Paper No. 87/77 (unpublishedWashington: International Monetary Fund1987).

    BenstonGeorgeJ. and othersPerspectives on Safe and Sound Banking: Past, Present, and Future (Cambridge, MassachusettsMIT Press1986).

    BordoMichaelD.“Lender of Last Resort: Some Historical Insights,”NBER Working Paper Series No. 3011 (Cambridge, Massachusetts: National Bureau of Economic ResearchJune1989) pp. 131.

    CorriganE.Gerald“A Perspective on Recent Financial Disruptions,”Quarterly Review Federal Reserve Bank of New YorkVol. 14 (Winter1989/90) pp. 815.

    CrockettJohnH.“Good Bank/Bad Bank Restructuring of Financial Institutions,”Bankers MagazineVol. 171 (November/December1988) pp. 3236.

    HindsManuel“Economic Effects of Financial Crises”Policy Planning Research Working Paper No. 104 (Washington: World Bank1988).

    HumphreyThomasM.“The Classical Concept of the Lender of Last Resort,”Economic ReviewFederal Reserve Bank of Richmond (January/February1975) pp. 29.

    JonesDouglasH.“Powers and Considerations of the Federal Deposit Insurance Corporation for Handling Failing FDIC-Insured Banks” (mimeographedAugust1987).

    LangWilliamW. andLeonard I.Nakamura“Optimal Bank Closure for Deposit Insurers,”Working Papers No. 90–12Federal Reserve Bank of Philadelphia (January1990) pp. 118.

    LarrainMauricio“How the 1981–83 Chilean Banking Crisis was Handled,”Policy Planning and Research Working Papers No. 300 (WashingtonWorld Bank1989).

    McMahonC.W.“Central Banks as Regulators and Lenders of Last Resort: A View from the United Kingdom,” in Key Issues in International Banking Conference Series No. 18 (Federal Reserve Bank of Boston1978) pp. 10210.

    NascimentoJean-Claude“The Crisis in the Financial Sector and the Authorities’ Reaction: The Case of the Philippines,”IMF Working Paper No. 90/26 (unpublishedWashington: International Monetary Fund1990).

    NegriJuanJavier“Argentina’s Recent Banking Crisis,”International Financia Law Review (London) Vol. 4 (August1985) pp. 68.

    Office of the Comptroller of the CurrencyAn Evaluation of the Factors Contributing to the Failure of National Banks (WashingtonJune1988).

    ShengAndrew“Bank Restructuring in Malaysia, 1985–88,”Policy Planning and Research Working Papers WPS 54 World Development Report (Washington: World BankNovember1989).

    VelascoAndres“Liberalization, Crisis, Intervention: The Chilean Financial System, 1975–85,”IMF Working Paper No. 88/66 (unpublishedWashingtonInternational Monetary Fund1988).

    WallichHenryC.“Central Banks as Regulators and Lenders of Last Resort: A View from the United States,” in Key Issues in International Banking Conference Series No. 18 (Federal Reserve Bank of Boston1978) pp. 9198.

    WilliamsonStephenD.“Liquidity, Banking, and Bank Failures,”Internationa Economic Review (Philadelphia) Vol. 29 (February1988) pp. 2543.

    World BankWorld Development Report, 1989 (London: Oxford University Press1989) see Chapter 5 in particular.

Part IV. Role of Central Bank in Economic Transition and Reform

    AhmedSadiq andBasantKapur“How Indonesia’s Monetary Policy Affects Key Variables,”Policy Planning and Research Working Papers No. 349 (Washington: World Bank1990).

    AtkinsonPaulE. andWilliam E.AlexanderFinancial Sector Reform: Its Role in Growth and Development (Washington: Institute of International Finance1990).

    BlejerMarioI. andSilvia B.Sagari“Sequencing the liberalization of Financial Markets,”Finance and Development (Washington) Vol. 25 (March1988) pp. 1820.

    BlejerMarioI.DavidBurtonStevenDunaway andGeorgSzapry“China: Economic Reform and Macroeconomic Management,”Occasional Paper No. 76 (WashingtonInternational Monetary Fund1991).

    CarringtonTim“A Polish Banking System Takes Root, As ‘Mattress Money’ Economy Wanes,”Wall Street JournalFebruary161990 p. A713.

    ChengHang-Sheng“Money and Credit in China,”Economic ReviewFederal Reserve Bank of San Francisco (Fall1981) pp. 1936.

    ColeDavidC andBetty F.Slade“Adapting Monetary Policy Instruments: The Indonesian Experience,”Discussion Paper No. 310Harvard Institute for International Development (June1989).

    ColeDavidC andBetty F.Slade“Indonesia Financial Development: A Different Sequencing?”paper presented at seminar on Financial LiberalizationCambridge, MassachusettsJune10–151990.

    CottarelliCarlo andManuelSebastiao“Transition to Indirect Monetary Control: Some Notes on the Case of Portugal,”prepared for theInternational Seminar on Economic and Monetary UnionPortugalJune8–91990.

    De WulfLuc andDavidGoldsbrough“The Evolving Role of Monetary Policy in China,”Staff PapersInternational Monetary Fund (Washington) Vol. 33 (June1986) pp. 20942.

    DembinskiPawelH.“Quantity Versus Allocation of Money: Monetary Problems of the Centrally Planned Economies Reconsidered,”Kyklos (Basle) Vol. 41No. 2 (1988) pp. 281300.

    FreedmanC.“Structural Changes, Financial Policy, and Bank Regulation,”notes for address to IMF Central Banking SeminarDecember71988Washington.

    FriedmanBenjaminM.“Targets and Instruments of Monetary Policy,”NBER Working Paper No. 2668 (Cambridge, Massachusetts: National Bureau of Economic ResearchJuly1988).

    GelbAlanH. andPatrickHonohan“Financial Sector Reforms in Adjustment Programs,”Policy Planning and Research Working Papers No. 169 (Washington: World Bank1989).

    GoldsbroughDavid andIqbal MehdiZaidi“Monetary Policy in the Philippines during Periods of Financial Crisis and Changes in Exchange Rate Regime: Targets, Instruments, and the Stability of Money Demand,”IMF Working Paper No. 89/98 (unpublishedWashington: International Monetary Fund1989).

    HartwigKarl-HansMonetare Steuerungsprobleme in Sozialistischen Planwirtschaften[Monetary Control Problems in Socialist Planned Economies] (Stuttgart1987).

    HusztiE.“Main Trends in the Development of Socialist Banking Systems and Organization: Relations Between the Functions of Issuing (Central) and Credit Banks,”Acta Oeconomica (Budapest) Vol. 26Nos. 1/2 (1981) pp. 7191.

    ImaiHiroyuki“China’s New Banking System: Changes in Monetary ManagementPacific Affairs (Vancouver) Vol. 58 (Fall1985) pp. 45172.

    JohnstonR.B.“Issues in the Design and Implementation of Monetary Control and the Transition to Indirect Monetary Instruments” (unpublished (Washington: International Monetary FundJuly1990).

    JohnstonR.B. andAnton A.F. Opde Beke“The Development of Market-Based Instruments of Monetary Control: Issues and Recent Experiences in Developing Countries” (unpublishedWashington: International Monetary Fund, Central Banking DepartmentNovember1988).

    JohnstonR.B. andAnton A.F. Opde Beke“Monetary Control Procedures and Financial Reform: Approaches, Issues, and Recent Experiences in Developing Countries,”IMF Working Paper No. 89/48 (unpublishedWashington: International Monetary Fund1989).

    JunyinRen“The Basis of China’s Banking Reform,” in Financial Reform in Socialist Economiesed. byChristineKessidesTimothyKingMarioNuti andCatherineSokilEDI Seminar Series (Washington: The World Bank1989) pp. 20513.

    KaneEdwardJ.“Interaction of Financial and Regulation InnovationAmerican Economic Review Papers and Proceedings (May1988) pp. 32834.

    KnightPeterT.“Economic Reform in Socialist Countries: The Experiences of China, Hungary, Romania, and Yugoslavia,”Staff Working Papers No. 579 (Washington: World Bank1983).

    LalDeepak“The Political Economy of Economic Liberalization,”World Bank Economic Review (Washington) Vol. 1 (January1987) pp. 27399.

    LeiteSergioP. andV.Sundararajan“Issues in Interest Rate Management and Liberalization,”IMF Working Paper No. 90/12 (unpublishedWashington: International Monetary Fund1990).

    NutiD.M.“Hidden and Repressed Inflation in Soviet-Type Economies: Definitions, Measurements and Stabilization,” in Contributions to Political Economy (Cambridge) Vol. 5 (1986) pp. 3782.

    NutiD.M.“Fenghle Financial Innovation under Socialism,” in Financial Reform in Socialist Economiesed. byChristineKessidesTimothyKingMarioNuti andCatherineSokilEDI Seminar Series (Washington: The World Bank1989) pp. 85105.

    Op de BekeAntonA.F.“IMF Central Banking Department Organizes Aid to National Bank of Poland,”IMF Survey (Washington) Vol. 18 (August131990) p. 241pp. 247–51.

    “People’s Bank of China to Function Exclusively As Nation’s Central Bank,”IMF Survey (Washington) Vol. 12 (October241983) p. 337.

    QuintynMarc“From Direct to Indirect Instruments of Monetary Policy: Lessons from the French Postwar Experience” (unpublishedWashington: International Monetary FundOctober101990).

    RadeckiLawrence andVincentReinhart“Globalizztion of Financial Markets and the Effectiveness of Monetary Policy InstrumentsQuarterly ReviewFederal Reserve Bank of New YorkVol. 13 (Autumn1988) pp. 827.

    RobinsonRogerJ. andLeldeSchmitz“Jamaica: Navigating Through a Troubled Decade,”Finance and Development (Washington) Vol. 26 (December1989) pp. 3033.

    SundararajanV. andLazarosMolho“Financial Reform and Monetary Control in Indonesia,”IMF Working Paper No. 88/4 (unpublishedWashington: International Monetary Fund1988)

    SundararajanV. andLazarosMolho“Financial Reform in Indonesia”Finance and Development (Washington) Vol. 25 (December1988) pp. 4345.

    ViglianoFranco“China Taps the Capital Markets,”International Financial Law Review (London) Vol. 6 (February1987) pp. 3136.

List of Participants

Guest Speakers

  • G. Arthur Brown*

  • Governor

  • Bank of Jamaica

  • Charles Freedman*

  • Deputy Governor

  • Bank of Canada

  • Robert Heller

  • President

  • Visa International

  • Tim O’Grady Walshe*

  • Former General Manager/Director General

  • Central Bank of Ireland

  • Brian Quinn

  • Executive Director

  • Bank of England

  • Bruce Summers

  • Deputy Director

  • Federal Reserve Board

  • Antonio Fazio*

  • Deputy Director General

  • Bank of Italy

  • Alan Greenspan

  • Chairman

  • Board of Governors of the Federal Reserve System

  • Lindsay Knight

  • Deputy Governor

  • Reserve Bank of New Zealand

  • Andrzej Olechowski*

  • First Vice President

  • National Bank of Poland

  • Maria Schaumayer*

  • Governor

  • National Bank of Austria

  • Hans Tietmeyer*

  • Member of the Executive Board

  • Deutsche Bundesbank


World Bank

  • Cesare Caranzat*

  • Executive Director

  • Deena Khatkhatet

  • Consultant

  • Andrew Shengt

  • Senior Financial Specialist

International Monetary Fund

  • Michel Camdessus*

  • Managing Director

African Department

  • Emilio Sacerdoti

  • Advisor

Asian Department

  • Tomás Baliño

  • Deputy Division Chief

Central Banking Department

  • Justin B. Zulu*

  • Director

  • Douglas A. Scott

  • Deputy Director

  • V. Sundararajan*

  • Assistant Director

  • Patrick T. Downes*

  • Advisor

  • Jacque Gautier

  • Advisor

  • Carl-Johan Lindgren

  • Advisor

  • Erik Niepoort*

  • Advisor

  • David Folkerts-Landau

  • Deputy Division Chief

  • Barry R. Johnston

  • Senior Economist

  • Reza Vaez-Zadeh

  • Senior Economist

  • Henry N. Schiffman

  • Consultant

IMF Institute

  • Gerard M.Teyssier*

  • Director

  • Anthony Lanyi*

  • Deputy Director

  • Jeffrey M. Davis

  • Advisor

  • Roger Pownall

  • Division Chief


  • Saif Hadif Al-Shamsi

  • Executive Director

  • Banking Supervision Department

  • United Arab Emirates Central Bank

  • Raja Attar

  • Director

  • Internal Control Directorate

  • Central Bank of Syria

  • Richard Battellino

  • Chief Manager

  • Domestic Markets Department

  • Reserve Bank of Australia

  • Omar Rodriguez Bello

  • Second Vice President

  • Central Bank of Venezuela

  • Abdelhaq Benchekroun

  • Director

  • Foreign Department

  • Bank Al-Maghrib, Morocco

  • Javier Cardenas

  • Manager

  • Department of Credit, Legal Deposits, and Financial Markets

  • Bank of Mexico

  • Ilmane Mohamed Cherif

  • Vice Governor

  • Central Bank of Algeria

  • Pedro da Neto Cunha

  • Governor

  • National Bank of Angola

  • Sándor Czirjak

  • Deputy President

  • National Bank of Hungary

  • Dariyn Danzan

  • First Deputy Chairman

  • Board of Directors

  • State Bank of the Mongolian People’s Republic

  • Jorge Quiñones del Busto

  • Deputy Advisor to General Management

  • Central Reserve Bank of Peru

  • Naullage Ananda Dharmabandu

  • Chief Accountant

  • Banking Department

  • Central Bank of Sri Lanka

  • Daniel E. Duenas

  • Manager

  • Directorate of Monetary Programming

  • Central Bank of the Republic of Argentina

  • A. J. Geerling

  • Chief

  • Supervision Department—General Affairs

  • Netherlands Bank

  • Clyde Goodlet

  • Research Advisor

  • Department of Monetary and Financial Analysis

  • Bank of Canada

  • Dan Huan Ha

  • Assistant Director

  • External Economic Relations Department

  • State Bank of Viet Nam

  • Takis E. Kanaris

  • Manager

  • Economic Research Department

  • Central Bank of Cyprus

  • Miroslav Kerous

  • Vice Chairman

  • State Bank of Czechoslovakia

  • Bap Kesang

  • Managing Director

  • Royal Monetary Authority of Bhutan

  • Firouzeh Khalatbari

  • Advisor to the Executive Board

  • Central Bank of the Islamic Republic of Iran

  • Pierre Madrieres

  • Deputy Director

  • Foreign Relations Department

  • Bank of France

  • Mohmoud Qaid M. Naji

  • Manager

  • Foreign Department

  • Central Bank of Yemen

  • Gata Ngoulou

  • Central Director

  • Bank Supervision Department

  • Bank of Central African States

  • Harihar Dev Pant

  • Chief Manager

  • Banking Development and Credit Department

  • Nepal Rastra Bank

  • Franklin Proano P.

  • Manager

  • Technical Division

  • Central Bank of Ecuador

  • Stefan Schoenberg

  • Senior Division Chief

  • Deutsche Bundesbank

  • Enrique Seguel

  • Member of the Board

  • Central Bank of Chile

  • Yutaka Shiotsu

  • Manager, Balance of Payments Division

  • International Department Bank of Japan

  • Oumarou Sidikou

  • Vice Governor

  • Central Bank of West African States

  • Ezra Suruma

  • Deputy Governor

  • Bank of Uganda

  • Mengesha Tesfaye

  • Controller

  • National Bank of Ethiopia

  • Andrzej Topinski

  • Vice President

  • National Bank of Poland

  • Iris Teresa Vaz

  • Executive Director

  • Reserve Bank of India

  • Guantao Yu

  • Research Fellow

  • Research Institute of Finance and Banking

  • People’s Bank of China

Also served as panelist.


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