Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries
October 23, 2015
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Format: Chicago
Summary
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.
Subject: Central bank role, Developing countries, Fund role, Intervention, Low-income developing countries, Monetary policy, Price stabilization, Transparency
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Policy Papers
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