Cover IMF Working Papers
Financial Sector Reform and Monetary Policy in the Netherlands
Author: Mr. Paul Louis Ceriel Hilbers
Series:
IMF Working Papers
Volume/Issue:
Volume 1998: Issue 019
Language:
English
Publication Date:
01 Feb 1998
DOI:
https://doi.org/10.5089/9781451922585.001
ISBN:
9781451922585
ISSN:
1018-5941
Pages:
29
Keywords:
WP; cash reserves; market orientation; credit ceiling; money market policy; credit restriction; exchange bureau; Financial Sector; Monetary Policy; Netherlands; Money markets; Monetary expansion; Credit; Credit controls; Exchange rates; Global
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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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Financial sector liberalization, both domestic and in cross-border transactions, was a major force behind the gradual move to indirect controls and the shift toward full reliance on exchange rate targeting in the Netherlands. This paper analyzes the different steps in this process, discusses the main arguments behind the gradual approach, and draws lessons for other countries involved in this process. The paper argues that reforms in the financial sector, liberalization of the capital account, adjustments in supervision and regulation, and modernization of monetary management are strongly interrelated and should be part of a comprehensive reform strategy.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund