TY  - BOOK
AU  - Axilrod,S.H.
TI  - Transformation of Markets and Policy Instruments for Open Market Operations
T2  - IMF Working Papers; Working Paper
SN  - 1451856598 :
SN  - 1018-5941
PY  - 1995///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Central Bank
KW  - imf
KW  - Government Securities
KW  - Monetary Policy
KW  - Money Market
KW  - Open Market Operations
KW  - Brazil
KW  - Indonesia
KW  - Mexico
KW  - Philippines
KW  - Poland
N2  - As developing countries and economies in transition have relied on deregulated, competitive markets to spur growth, their central banks have shifted toward using open market operations as a tool of monetary policy. To be most effective, such operations require supportive changes in other policy instruments (reserve requirements, discount window), a competitive banking system and securities market, and adaptation of particular open market or market-type instruments used to the stage of, and potential for, market development. The paper assesses options available to a central bank for encouraging a competitive market architecture and designing instruments for implementation of open market operations
UR  - http://elibrary.imf.org/view/IMF001/07486-9781451856590/07486-9781451856590/07486-9781451856590.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451856590
ER  -