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Capital Inflows in the Baltic Countries, Russia, and Other Countries of the Former Soviet Union: Monetary and Prudential Issues
Author:
Mr. Alain Ize
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Series:
IMF Working Papers
Volume/Issue:
Volume 1996: Issue 022
Language:
English
Publication Date:
01 Feb 1996
DOI:
https://doi.org/10.5089/9781451921243.001
ISBN:
9781451921243
ISSN:
1018-5941
Pages:
42
Keywords:
WP; FSU; market; bank; monetary policy; cost; FSU country; nominal exchange rate; market liquidity; sterilization instrument; financial situation; Sterilization; Capital inflows; Inflation; Reserve requirements; Monetary base; Baltics
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Significant capital inflows were observed during the first half of 1995 in a number of FSU countries. This paper reviews the recent experience of those countries with significant inflows, examines policy responses in view of the current macroeconomic and institutional environment, discusses the use of monetary and prudential instruments to sterilize or discourage inflows, and reviews operational considerations for conducting sterilization operations.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund