Turtelboom, Bart.
Interest Rate Liberalization Some Lessons From Africa / Bart Turtelboom. [electronic resource] : Bart Turtelboom. - Washington, D.C. : International Monetary Fund, 1991. - 1 online resource (46 p.) - IMF Working Papers; Working Paper ; No. 91/121 . - IMF Working Papers; Working Paper ; No. 91/121 .
This paper undertakes a survey of theoretical considerations and an analysis of the experience of five African countries with interest rate liberalization. Despite substantial progress in monetary policy reforms, liberalization has only partially affected the level and variability of interest rates. Several factors-macroeconomic instability, oligopolistic financial markets, the absence of developed capital markets, as well as the sequencing of the liberalization programs and the asymmetric availability of information-explain the increase in the spread between lending and deposit rates as well as the rather inflexible pattern of interest rates during the transition to a market-based financial system.
1451939183 : 15.00 USD
1018-5941
10.5089/9781451939187.001 doi
Banking
Deposit Rates
Financial Institutions
Financial Liberalization
Financial Sector
Gambia, The
Ghana
Malawi
Interest Rate Liberalization Some Lessons From Africa / Bart Turtelboom. [electronic resource] : Bart Turtelboom. - Washington, D.C. : International Monetary Fund, 1991. - 1 online resource (46 p.) - IMF Working Papers; Working Paper ; No. 91/121 . - IMF Working Papers; Working Paper ; No. 91/121 .
This paper undertakes a survey of theoretical considerations and an analysis of the experience of five African countries with interest rate liberalization. Despite substantial progress in monetary policy reforms, liberalization has only partially affected the level and variability of interest rates. Several factors-macroeconomic instability, oligopolistic financial markets, the absence of developed capital markets, as well as the sequencing of the liberalization programs and the asymmetric availability of information-explain the increase in the spread between lending and deposit rates as well as the rather inflexible pattern of interest rates during the transition to a market-based financial system.
1451939183 : 15.00 USD
1018-5941
10.5089/9781451939187.001 doi
Banking
Deposit Rates
Financial Institutions
Financial Liberalization
Financial Sector
Gambia, The
Ghana
Malawi