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Author : Haizhou Huang
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (666 download)
Download or read book Monetary policies for developing countries : the role of institutional quality written by Haizhou Huang and published by . This book was released on 2005 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Silvio Borner
Publisher : OECD Publishing
ISBN 13 :
Total Pages : 120 pages
Book Rating : 4.F/5 ( download)
Download or read book Institutional Efficiency and Its Determinants written by Silvio Borner and published by OECD Publishing. This book was released on 2004 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication discusses the impact of institutions on economic development and the determinants that shape institutional quality, using a new institutional economics (NIE) model based on a multidisciplinary approach to understanding issues including growth, efficiency and income distribution. Using the experience of Argentina under the Menem government as a case study, a methodology is developed and applied to test theoretical hypotheses regarding the concept of institutional quality and how delineation between economic and political institutions work in practice. It also considers systems of democracy and autocracy, and the impact of traditional, legal and cultural frameworks on institutional efficiency.
Author : Rashed Al Mahmud Titumir
Publisher : Routledge
ISBN 13 : 1000511235
Total Pages : 302 pages
Book Rating : 4.0/5 (5 download)
Download or read book Fiscal and Monetary Policies in Developing Countries written by Rashed Al Mahmud Titumir and published by Routledge. This book was released on 2021-12-24 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 crisis has fractured the pre-existing structural rigidities and institutional fragilities in the economies of developing countries more than ever, necessitating a rethinking of fiscal and monetary policies, the main vehicles for relief, recovery and reconstruction. This book examines the barriers to transformation in developing countries in the wake of the pandemic and analyses the paths to recovery based on an economic policymaking agenda. It juxtaposes fiscal and monetary policies and state-building from pre- and post-colonial periods to the present-day context. It employs an interdisciplinary approach and ventures beyond the well-rehearsed tendency to explain the state of developing countries by considering the experiences of advanced economies. The book utilises data on three levels: the aggregate level using world data, the single-country context with case studies and a cross-country assessment for comparative analysis. Further, the book critically assesses the relevance of different schools of thought and provides nuanced, thought-provoking theoretical apparatuses applicable to developing countries, as well as allowing the reader to undertake a country-specific analysis through the detailed historical country case studies undertaken in each chapter. Each chapter has a detailed and separate theoretical and empirical section for the ease of understanding of the key propositions in the book. The book will find an audience among scholars and researchers alike, who wish to gain a deeper understanding of the formulation of fiscal and monetary policies, specifically in developing countries. For policymakers and policy advocates, the book will serve as the groundwork for monetary and fiscal policies in the context of developing countries, providing more relevant instruments for transformational pathways.
Author : Subrata Ghatak
Publisher : Red Globe Press
ISBN 13 :
Total Pages : 326 pages
Book Rating : 4.:/5 (318 download)
Download or read book Monetary Economics in Developing Countries written by Subrata Ghatak and published by Red Globe Press. This book was released on 2007-08 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an introduction to monetary economics with a particular reference to issues relevant for developing economies.
Author : Haizhou Huang
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (318 download)
Download or read book Monetary Policies for Developing Countries written by Haizhou Huang and published by . This book was released on 2003 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper examines the role of corruption in the design of monetary policies for developing countries and obtains several interesting results. First, pegged exchange rates, currency boards, or dollarization, while often prescribed as a solution to the problem of a lack-of-credibility for developing countries, is typically not optimal in countries with serious corruption. Second, the optimal degree of conservatism for a Rogoff (1985)-type central banker is an inverse function of the corruption level. Third, either an optimally-designed inflation target or an optimal conservative central banker is preferableto an exchange rate peg, currency board, or dollarization"--NBER website
Author : Warren L. Coats
Publisher : Elsevier
ISBN 13 : 148315730X
Total Pages : 842 pages
Book Rating : 4.4/5 (831 download)
Download or read book Money and Monetary Policy in Less Developed Countries written by Warren L. Coats and published by Elsevier. This book was released on 2014-05-19 with total page 842 pages. Available in PDF, EPUB and Kindle. Book excerpt: Money and Monetary Policy in Less Developed Countries: A Survey of Issues and Evidence focuses on monetary policy, the financial intermediation process, and the role of money in economic development in less developed countries (LDCs). Topics covered include financial development and economic growth in underdeveloped countries; instruments and techniques used in the implementation of monetary policy: and econometric policy models. This book is comprised of 46 chapters and begins with a discussion on the main lines of thought in the field of money and monetary policy in LDCs, with emphasis on the significant empirical results. The reader is then introduced to the role of money in the development process; production and monetization in the subsistence sector; some aspects of financial policies and central banking in developing countries; and the efficacy of monetary rules for LDCs. The subsequent chapters explore monetary policy instruments such as interest rates, credit controls, and exchange rates; credit policy and the balance of payments in developing countries; and price and output behavior in the Indian economy from 1951 to 1973. A semiannual macroeconometric model of the Philippines for the period 1967-1976 is also described. This monograph will be a valuable resource for economists, economic policymakers, and central bankers as well as students.
Author : Mr.Jahangir Aziz
Publisher : International Monetary Fund
ISBN 13 : 1451940955
Total Pages : 21 pages
Book Rating : 4.4/5 (519 download)
Download or read book Policy Complementarities and the Washington Consensus written by Mr.Jahangir Aziz and published by International Monetary Fund. This book was released on 1997-09-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: While economists continue to debate whether particular economic policies, such as those referred to in Willliamson’s (1993) “Washington Consensus,” can spur growth in developing countries, this paper demonstrates that it is combinations of policies that are more critical for growth. Policy complementarity refers to the mutually reinforcing benefits of policies that create an environment that is conducive to investment and growth. Quantitative measures of policy complementarity are developed, and the study shows empirically, through both an outcomes-based probability framework and a standard regression analysis, that these complementarities are significant and robust in explaining growth outcomes over the period 1985–95.
Author : Laura Recuero Virto
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (13 download)
Download or read book Institutional Quality and Economic Performance written by Laura Recuero Virto and published by . This book was released on 2014 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, a number of studies have shown that institutions are crucial to economic development. This literature has highlighted a relationship between the quality of the macro-institutional environment and the performance of reform policies conducted in some key sectors of the economy. This paper explores this relationship in the context of developing countries for the case of telecommunications, the sector among the infrastructure industries that has experienced worldwide probably the deepest structural changes. We specify an econometric model for a data base of observations on a panel of 32 developing countries covering fifteen years (1985-1999). The sample is decomposed into two panels according to GNP per inhabitant, thus allowing us to test for the existence of a level of revenue below which, once the effect of reforms variables, liberalization and privatization of the incumbent, has been controlled for, the quality of institutions plays only a minor role. We find that the impact of the institutional quality on the performance of the industry is more perceptible in the sample of countries with the lower GNP per inhabitant. Thus, within the developing countries, the marginal effect of an investment in improving the institutional quality is higher in the countries with lower revenues. This result might explain the recent trend of international donors to reallocate resources to long term policies for improving institutional mechanisms as a substitute to shorter-term aid policies focusing on sector-specific governance issues, in particular, in less developed countries.
Author : Selim Elekdag
Publisher : International Monetary Fund
ISBN 13 : 1451865708
Total Pages : 30 pages
Book Rating : 4.4/5 (518 download)
Download or read book Can a Rule-Based Monetary Policy Framework Work in a Developing Country? The Case of Yemen written by Selim Elekdag and published by International Monetary Fund. This book was released on 2007-01-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary policy in Yemen is largely rudimentary and ad hoc in nature. The Central Bank of Yemen's (CBY) approach has been based on discretionary targeting of broad money without any clear target to anchor inflation expectations. This paper argues in favor of a new formal monetary policy framework for Yemen emphasizing a proactive and rule-based approach with a greater direct focus on price stability in the context of a flexible management of the exchange rate. Although, as in many developing countries, institutional capacity is a concern, adopting a more formal framework could impel the kind of changes that are required to strengthen the ability of the CBY in achieving low and stable rates of inflation over the medium term.
Author : Mr.Montfort Mlachila
Publisher : International Monetary Fund
ISBN 13 : 1498379273
Total Pages : 33 pages
Book Rating : 4.4/5 (983 download)
Download or read book A Quality of Growth Index for Developing Countries written by Mr.Montfort Mlachila and published by International Monetary Fund. This book was released on 2014-09-16 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes a new quality of growth index (QGI) for developing countries. The index encompasses both the intrinsic nature and social dimensions of growth, and is computed for over 90 countries for the period 1990-2011. The approach is premised on the fact that not all growth is created equal in terms of social outcomes, and that it does matter how one reaches from one level of income to another for various theoretical and empirical reasons. The paper finds that the quality of growth has been improving in the vast majority of developing countries over the past two decades, although the rate of convergence is relatively slow. At the same time, there are considerable cross-country variations across income levels and regions. Finally, emprirical investigations point to the fact that main factors of the quality of growth are political stability, public pro-poor spending, macroeconomic stability, financial development, institutional quality and external factors such as FDI.
Author : Sheila Page
Publisher : Routledge
ISBN 13 : 1136139168
Total Pages : 381 pages
Book Rating : 4.1/5 (361 download)
Download or read book Monetary Policy in Developing Countries written by Sheila Page and published by Routledge. This book was released on 2013-10-11 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing countries now use monetary policy as part of their adjustment programmes but its targets, the tools, and the theory were developed for advanced countries. Low income countries do not have the sophisticated financial sectors that rich ones can assume, and the shocks and size of adjustment which they face may be much greater. Using six country studies, with special analysis of the roles of the external sector and the informal financial sector, this book analyses the interaction among monetary policy, the financial sector, and development.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498344062
Total Pages : 74 pages
Book Rating : 4.4/5 (983 download)
Download or read book Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-10-23 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Author : Laura Recuero Virto
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book Institutional Quality and Economic Performance Through Telecommunications in Developing Countries written by Laura Recuero Virto and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, a number of studies have shown that institutions are crucial to economic development. This literature has highlighted a relationship between the quality of the macro-institutional environment and the performance of reform policies conducted in some key sectors of the economy. This paper explores this relationship in the context of developing countries for the case of telecommunications, the sector among the infrastructure industries that has experienced worldwide probably the deepest structural changes. We specify an econometric model for a data base of observations on a panel of 32 developing countries covering fifteen years (1985-1999). The sample is decomposed into two panels according to GNP per inhabitant, thus allowing us to test for the existence of a level of revenue below which, once the effect of reforms variables, liberalization and privatization of the incumbent, has been controlled for, the quality of institutions plays only a minor role. We find that the impact of the institutional quality on the performance of the industry is more perceptible in the sample of countries with the lower GNP per inhabitant. Thus, within the developing countries, the marginal effect of an investment in improving the institutional quality is higher in the countries with lower revenues. This result might explain the recent trend of international donors to reallocate resources to long term policies for improving institutional mechanisms as a substitute to shorter-term aid policies focusing on sector-specific governance issues, in particular, in less developed countries.
Author : David A. Grigorian
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4./5 ( download)
Download or read book Industrial Growth and Quality of Institutions written by David A. Grigorian and published by World Bank Publications. This book was released on 2000 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing the legal and regulatory framework, improving contract enforcement, and reducing administrative barriers in the business environment increases the amount of investment and improves the efficiency of resource allocation.
Author : Juan-Antonio Morales
Publisher : Oxford University Press
ISBN 13 : 0198854714
Total Pages : 384 pages
Book Rating : 4.1/5 (988 download)
Download or read book Monetary Policy in Low Financial Development Countries written by Juan-Antonio Morales and published by Oxford University Press. This book was released on 2021 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book gives a broad coverage of the monetary policy issues in Low Financial Development Countries (LFDCs). These low and lower middle income countries are characterized by a predominance of bank finance, shallow financial markets, low financial inclusion, weak integration with world capital markets and a high degree of informality in economic activity. Monetary policy acquires special twists, making it different in many aspects from the policies followed in advanced and emerging market economies. The book covers the main facets of monetary policy making, using an approach that combines the discussion of theoretical arguments, of results from empirical studies and of policy experiences relevant for LFDCs. The book presents the monetary policy instruments they use and assesses the specificities of their monetary transmission mechanism. It evaluates the advantages, drawbacks and challenges of the different nominal anchors they may choose from: exchange rate targeting, monetary targeting and inflation targeting. This discussion is set against the background of the three main goals pursued by central banks: price, output and financial stability. Particular attention is devoted to the issue of the credibility of central banks and to the trade-offs they face when external shocks, to which these countries are very vulnerable, lead to conflicts among the three goals they pursue. The book also covers more specific topics, such as the challenges raised by fiscal dominance and by dollarization, the implications of informal labor markets and of microfinance institutions for monetary policy-making and the role of models for forecasting and policy evaluation.
Author : Fatima Muhammad Abdulkarim
Publisher : Walter de Gruyter GmbH & Co KG
ISBN 13 : 3110600935
Total Pages : 127 pages
Book Rating : 4.1/5 (16 download)
Download or read book Financialization of the economy and income inequality in selected OIC and OECD countries written by Fatima Muhammad Abdulkarim and published by Walter de Gruyter GmbH & Co KG. This book was released on 2019-11-18 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: Income inequality is a serious problem confronting not only the developed world but also developing countries. Recently, financialization has been one of the culprits identified in literature as one of the cause of income inequality. This book offers the only detailed presentation of the how financialization aided the spread of income inequality in Organization of Islamic Cooperation, OIC countries. Finance has taking a center stage in the affairs of most developing economies, surpassing the real sector of the economy. The result is the creation of an indebted society in which people are comfortable with financing their financial needs through credit. This creates a debt laden society that is trapped in the cycle of debt. This book represents a comprehensive and indispensable source for students, practitioners and the general public at large. It presents data which shows the buildup of debt and the rising income inequality in Muslim countries. It includes discussion of the rise in rentier income, financialization of everyday life, decline in physical capital accumulation and deregulation of the financial sector. The book therefore, proffers solutions on how Muslim countries can come out of the present economic problem facing them. The promotion and adoption of Islamic principles, which promotes risk sharing based contracts as against debt based transaction is the way to go. When financial contracts are based on the principles of risk sharing, any gains from economic activities get to be shared equitably. Hence, not only capital owners get to enjoy the benefit from the income derived from investments, but rather, all parties that partake in the contract. Distinguished by its clarity and readability as it is written in a very easy to understand language, it is an important reference work for any concerned individual interested on the recent causes of income inequality in Muslim World.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 9781557751041
Total Pages : 46 pages
Book Rating : 4.7/5 (51 download)
Download or read book Interest Rate Policies in Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 1983-10-31 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the appropriate level and structure of interest tates have come to be seen as major issues in connection with stabilization programs undertaken by members. These issues arise from consideration both on the demand side, as interest rates affect the magnitude of aggregate demand, and on the supply side, as they influence the volume and quality of investment and, thus, the growth of output.
