Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Quasi Fiscal Operations Of Central Banks In Transition Economies
Download Quasi Fiscal Operations Of Central Banks In Transition Economies full books in PDF, epub, and Kindle. Read online Quasi Fiscal Operations Of Central Banks In Transition Economies ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Quasi-fiscal Operations of Central Banks in Transition Economies by : Malgorzata Markiewicz
Download or read book Quasi-fiscal Operations of Central Banks in Transition Economies written by Malgorzata Markiewicz and published by . This book was released on 2001 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews issues associated with quasi-fiscal operations (QFO) of central banks in a sample of countries in Central and Eastern Europe and the former Soviet Union. The concern is the problem of transparency in fiscal and monetary accounts when the central bank undertakes quasi-fiscal operations and the government falls short of providing full coverage of fiscal operations. QFO can also jeopardize monetary policy designed to maintain price stability. A simple framework is developed to estimate the extent of QFO. In some cases, the magnitude of QFO is significant in indicating underestimation of fiscal deficit figures. We claim that the lack of transparency in fiscal accounts of transition countries warrants serious concern.
Book Synopsis Central Banking in Developing Countries by : A. Chandavarkar
Download or read book Central Banking in Developing Countries written by A. Chandavarkar and published by Springer. This book was released on 1996-10-31 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a comprehensive state-of-the-art survey which analyzes institutions, policies and issues of central banking in developing countries including interest-free Islamic and transition economies. It discusses objectives and functions; monetary, exchange, supervisory and developmental roles; financial liberalization; informal finance; causes and implications of central bank losses. It critically evaluates currency boards, central bank independence, ceilings on government credit and suggests radical organizational reforms, divestiture of quasi-fiscal activities and partial privatization of central banks.
Book Synopsis Central Banking in Transition Countries by : Mr.Helmut Wagner
Download or read book Central Banking in Transition Countries written by Mr.Helmut Wagner and published by International Monetary Fund. This book was released on 1998-08-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 1990s, the issues of central banking and central bank independence have gained increasing attention, in part owing to the role of the future European central bank, but also owing to the emergence of transition countries and the role of central banks in these countries. The main focus of the paper is on the preconditions of disinflation and successful stability policy in transition countries, paying special attention to the institutional requirements and to the choice of nominal anchors.
Book Synopsis Central Banking, Monetary Policies, and the Implications for Transition Economies by : Mario I. Blejer
Download or read book Central Banking, Monetary Policies, and the Implications for Transition Economies written by Mario I. Blejer and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: the adaptation of the institutional settings of monetary policy to deal with an emerging market economy had to be carried out in the midst of an unprecedented stabilization effort and, therefore, was particularly urgent and complicated. In many of the transition countries, the transformation effort implied not just changes in procedures but the establishment of a central bank from scratch, a process that involved an important effort, precisely at a time when the whole system was in serious turmoil. While the process of reforms is not yet completed in all the transition countries, an immense amount of progress has been achieved, and many of the transition countries face today monetary and central banking conditions that are close to those of Western economies. In this volume, we collect a number of important contributions that discuss the most burning aspects of the current debates on central banking and monetary policy and draw implications for the postsocialist transition economies. The various papers included in the volume deal with a broad set of related issues, which are highly relevant not just for transition economies but for other emerging markets and for advanced economies as well. The subjects covered in the book are divided into seven major categories (Sections II to VIII), some of which overlap.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :9781557756084 Total Pages :212 pages Book Rating :4.7/5 (56 download)
Book Synopsis Central Bank Reform in the Transition Economies by : International Monetary Fund
Download or read book Central Bank Reform in the Transition Economies written by International Monetary Fund and published by International Monetary Fund. This book was released on 1997-05-01 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1992, the central banks of the Baltic states and the Commonwealth of Independent States have undertaken comprehensive reform of their monetary and exchange arrangements in support of their stabilization efforts. Their efforts have been supported by extensive technical assistance provided by the IMF and 23 central banks. This book edited by V. Sundararajan, Arne B. Peterson, and Gabriel Sensenbrenner, contains the background papers prepared for the second joint coordinating meeting of participants. That meeting focused on the progress of structural reforms in central banking and bank restructuring and identified priorities for the deepening of reforms. The book documents the remarkable progress achieved by the Baltic and CIS central banks and the catalytic role they have played in financial market development.
Book Synopsis Quasi-Fiscal Operations of Public Financial Institutions by : Mr. G. A. Mackenzie
Download or read book Quasi-Fiscal Operations of Public Financial Institutions written by Mr. G. A. Mackenzie and published by International Monetary Fund. This book was released on 1996-10-24 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central banks and other public financial institutions act as agents of fiscal policy in many countries. Their "quasi-fiscal" operations and activities can affect the overall public sector balance without affecting the budget deficit as conventionally measured, may also have important allocative effects, and increase the effective size of the public sector. This paper analyzes the macroeconomic and financial effects of such quasi-fiscal activities, as well as the taxes, subsidies, and other expenditures that such activities introduce outside the budget. Measurement and accounting issues are addressed, and policy recommendations are offered.
Book Synopsis Central Banking in Developing Countries by : Anand G. Chandavarkar
Download or read book Central Banking in Developing Countries written by Anand G. Chandavarkar and published by Palgrave Macmillan. This book was released on 1996 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Aspects of Fiscal Performance in Some Transition Economies Under Fund-Supported Programs by : Mr.Willem H. Buiter
Download or read book Aspects of Fiscal Performance in Some Transition Economies Under Fund-Supported Programs written by Mr.Willem H. Buiter and published by International Monetary Fund. This book was released on 1997-04-01 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Key medium– and longer–term fiscal issues faced by transition economies are reviewed, including government solvency and the sustainability of the fiscal–financial–monetary program. The paper aims to assist the design and implementation of future Fund programs and to contribute to the debate about fiscal policy in transition economies. After presenting a framework for evaluating the sustainability of the fiscal–financial–monetary program of the state, some numerical material is presented on public debt, (quasi–) fiscal deficits and monetary financing. Eight budgetary issues of special relevance to transition economies are considered next. The lessons from this study are summarized in a number of propositions.
Book Synopsis Central Banking Technical Assistance to Countries in Transition by : Ms.Susana Almuina
Download or read book Central Banking Technical Assistance to Countries in Transition written by Ms.Susana Almuina and published by International Monetary Fund. This book was released on 1995-12-15 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, edited by J.B. Zulu, Ian S. McCarthy, Susana Almuiña, and Gabriel Sensenbrenner, presents the proceedings of the special Joint Meetings on Central Banking Technical Assistance held in St. Petersburg, Russia in 1994, and provides detailed information on important issues in central banking, including a comparative sample of 31 countries. The arrangements concerning such issues as the size and composition of the policymaking board, the role of the central bank in monetary and exchange rate policy, resolution of conflict between the central bank and the government, public accountability, relations with the markets, and credit to the government are reviewed.
Book Synopsis Quasi-Fiscal Implications of Central Bank Crisis Interventions by : John Hooley
Download or read book Quasi-Fiscal Implications of Central Bank Crisis Interventions written by John Hooley and published by International Monetary Fund. This book was released on 2023-06-02 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a stylized balance sheet framework to help identify ‘quasi-fiscal’ components of central bank crisis interventions and show how sources of fiscal risk are created from both the new claims and how they are funded. Combining central bank balance sheet data with survey evidence from intervention announcements, we document the risks to the public sector balance sheet from central banks’ interventions in response to the Covid-19 crisis, including non-conventional lending to the financial and non-financial sectors and large-scale purchases of government securities. Case study analysis indicates that management of fiscal risks from central bank crisis interventions varies greatly across countries, although several good practices can be identified.
Book Synopsis Monetary Policy in Central and Eastern Europe by : Mr.David K. H. Begg
Download or read book Monetary Policy in Central and Eastern Europe written by Mr.David K. H. Begg and published by International Monetary Fund. This book was released on 1996-09-01 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper uses data from transition economies in Central and Eastern Europe to assess four questions: (i) Did the standard blueprint for stabilization work, and was it implemented? (ii) To what extent was normal macroeconomics impeded by solvency problems in banks, and how successful have been policies to improve incentives within banks? (iii) Could financial markets and other infrastructure for monetary policy have been developed more quickly? (iv) How should transition economies respond to the monetary inflows that typically accompany success? The paper concludes by evaluating the changing advice offered by external agencies during the 1990s.
Book Synopsis Cost and Effectiveness of Banking Sector Restructuring in Transition Economies by : Edda Zoli
Download or read book Cost and Effectiveness of Banking Sector Restructuring in Transition Economies written by Edda Zoli and published by International Monetary Fund. This book was released on 2001-10 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper analyses the cost and effectiveness of bank restructuring policies in 11 transition countries during 1991-98. It argues that country-specific banking sector features, the size of bad loans inherited from the centrally planned system, and weaknesses in the restructuring policies implemented were the main factors affecting the overall fiscal costs, with the latter two being more significant. The paper finds no significant relationship between the size of restructuring costs and overall improvement in banking sector performance for the sample countries as a whole.
Book Synopsis Central Bank Financial Strength, Transparency, and Policy Credibility by : Peter Stella
Download or read book Central Bank Financial Strength, Transparency, and Policy Credibility written by Peter Stella and published by International Monetary Fund. This book was released on 2002-08 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: A central bank is financially strong if it possesses resources sufficient to attain its fundamental policy objective(s). Once endowed with those resources, relations between government and central bank should be designed so that significant changes in central bank financial strength do not occur unless necessitated by changes in policy objectives. The level of strength required depends on the array of policy objectives (for example, the exchange rate regime) as well as the constraints and risks presented by the operational environment. Attaining credibility is facilitated if the public can easily determine the financial strength of the bank, yet for a variety of reasons this is often difficult. Transparency requires institutional arrangements that ensure the central bank generates profit in most states of the world, is subject to strict ex post independent audit, and transfers regularly all profits, after provisions, to the treasury.
Book Synopsis Financial Sector Reform and Central Banking in Centrally Planned Economies by : International Monetary Fund
Download or read book Financial Sector Reform and Central Banking in Centrally Planned Economies written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-12-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews key areas of central banking reform in a sample of centrally planned economies undergoing transition to market-based systems. The discussion draws mainly on the experiences of four countries, Hungary, Poland, Czechoslovakia, and China. Significant efforts have been made, or are under consideration, in all countries to develop a more efficient framework for monetary management, and to provide greater autonomy to central banks in macro stabilization policies. These objectives call for a coordinated approach to strengthening a wide range of central banking functions simultaneously, and require that a core mass of supporting financial sector reforms be implemented to ensure effective transformation and stabilization with minimal transitional costs.
Book Synopsis Coordination of Monetary and Fiscal Policies by : International Monetary Fund
Download or read book Coordination of Monetary and Fiscal Policies written by International Monetary Fund and published by International Monetary Fund. This book was released on 1998-03-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
Book Synopsis Central Bank Autonomy, and Inflation and Output Performance in the Baltic States, Russia, and Other Countries of the Former Soviet Union, 1995-1997 by : Mr. Tonny Lybek
Download or read book Central Bank Autonomy, and Inflation and Output Performance in the Baltic States, Russia, and Other Countries of the Former Soviet Union, 1995-1997 written by Mr. Tonny Lybek and published by International Monetary Fund. This book was released on 1999-01-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: A higher degree of de jure autonomy and accountability of the central banks of the Baltic states, Russia, and other countries of the former Soviet Union appears to be positively correlated with lower average inflation. There also seems to be some positive correlation between greater central bank autonomy and higher average real growth, after the initial period of reforms. Central banks with a higher degree of autonomy and accountability have apparently also reformed their operations more aggressively.
Book Synopsis Central Bank Credit to the Government by : Mr.Luis Ignacio Jácome
Download or read book Central Bank Credit to the Government written by Mr.Luis Ignacio Jácome and published by International Monetary Fund. This book was released on 2012-01-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a central bank legislation database, this paper documents and analyzes worldwide institutional arrangements for central bank lending to the government and identifies international practices. Key findings are: (i) in most advanced countries, central banks do not finance government expenditure; (ii) in a large number of emerging and developing countries, short-term financing is allowed in order to smooth out tax revenue fluctuations; (iii) in most countries, the terms and conditions of these loans are typically established by law, such that the amount is capped at a small proportion of annual government revenues, loans are priced at market interest rates, and their maturity falls within the same fiscal year; and (iv) in the vast majority of countries, financing other areas of the state, such as provincial governments and public enterprises, is not allowed. The paper does not address central banks' financial support during financial crises.
