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Monetary Policy Transmission in Emerging Markets and Developing Economies

2020-02-21 Business & Economics
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Release : 2020-02-21
Genre : Business & Economics
Kind : eBook
Book Rating : 730/5 ( reviews)

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Book Synopsis Monetary Policy Transmission in Emerging Markets and Developing Economies by : Mr.Luis Brandao-Marques

Download or read book Monetary Policy Transmission in Emerging Markets and Developing Economies written by Mr.Luis Brandao-Marques. This book was released on 2020-02-21. Available in PDF, EPUB and Kindle. Book excerpt: Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often stalled progress. We conduct a novel empirical analysis using Jordà’s (2005) approach for 40 EMDEs to shed a light on monetary transmission in these countries. We find that interest rate hikes reduce output growth and inflation, once we explicitly account for the behavior of the exchange rate. Having a modern monetary policy framework—adopting IT and independent and transparent central banks—matters more for monetary transmission than financial development.

Monetary Policy Frameworks for Emerging Markets

2009-01-01 Business & Economics
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Release : 2009-01-01
Genre : Business & Economics
Kind : eBook
Book Rating : 194/5 ( reviews)

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Book Synopsis Monetary Policy Frameworks for Emerging Markets by : Gill Hammond

Download or read book Monetary Policy Frameworks for Emerging Markets written by Gill Hammond. This book was released on 2009-01-01. Available in PDF, EPUB and Kindle. Book excerpt: Financial globalisation has made the formulation of monetary policy in emerging market economies increasingly complicated. This timely set of studies looks at the turmoil in global financial markets, which, coupled with volatile inflation, poses serious challenges for central banks in these countries. The book features a number of specially commissioned new papers from both front-line policymakers and researchers in developing and emerging market economies, which tackle the difficult issues currently being debated with increasing urgency by monetary policy theorists and policymakers around the world. They address questions such as: What monetary policy framework is most suitable for emerging market countries to confront the new challenges while they continue to open up to trade and financial flows? , What are the linkages between monetary stability and financial stability? and Is inflation targeting or a fixed exchange rate regime preferable for developing and emerging markets? Providing unique insights on the interaction between the theory and practice of monetary policy in emerging markets, this book will be of great interest to academics and students of economics, economic policy and development economics. Policymakers will also find this to be a useful and thought-provoking read.

Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries

2015-10-23 Business & Economics
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Release : 2015-10-23
Genre : Business & Economics
Kind : eBook
Book Rating : 062/5 ( reviews)

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Book Synopsis Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries by : International Monetary Fund

Download or read book Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries written by International Monetary Fund. This book was released on 2015-10-23. 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.

Monetary Policies and Inflation Targeting in Emerging Economies

2008-04-15
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Release : 2008-04-15
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Kind : eBook
Book Rating : 639/5 ( reviews)

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Book Synopsis Monetary Policies and Inflation Targeting in Emerging Economies by : de Mello Luiz

Download or read book Monetary Policies and Inflation Targeting in Emerging Economies written by de Mello Luiz. This book was released on 2008-04-15. Available in PDF, EPUB and Kindle. Book excerpt: This book, based on the proceedings of a conference organised by the OECD and the Bank of England's Centre for Banking Studies, examines cross-country issues related to the conduct of monetary policy in emerging markets and the role of inflation targeting in improving macroeconomic performance.

Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries — Background Paper — Country Experiences

2015-10-27 Business & Economics
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Release : 2015-10-27
Genre : Business & Economics
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Book Rating : 054/5 ( reviews)

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Book Synopsis Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries — Background Paper — Country Experiences by : International Monetary Fund

Download or read book Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries — Background Paper — Country Experiences written by International Monetary Fund. This book was released on 2015-10-27. Available in PDF, EPUB and Kindle. Book excerpt: This background paper focuses on the experiences of evolving monetary policy frameworks in nine individual countries and three thematic groupings of countries. The country case studies are complemented by analyses of common issues faced by countries in currency unions in the CFA franc zone, selected resource rich countries, and advanced economies and emerging markets during their modernization process of monetary policy regimes. Finally, the background paper also contains a discussion on the benefits of effective communication in conducting monetary policy.

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