Financial Sector Reform and Central Banking in Centrally Planned Economies

December 1, 1990

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Financial Sector Reform and Central Banking in Centrally Planned Economies, (USA: International Monetary Fund, 1990) accessed November 22, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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.

Subject: Bank supervision, Banking, Commercial banks, Credit, Financial institutions, Financial regulation and supervision, Financial sector reform, Loans, Money

Keywords: Bank supervision, Banking industry, Banking reform, Bill of exchange, Commercial banks, Credit, Derived demand, Enterprise restructuring, Exchange rate, Financial sector reform, Housing loan portfolio, Key interest rate, Loans, Monetary management, Monetary policy reform, Mono bank system, National bank, Savings bank, State bank, State enterprise, WP

Publication Details

Pages:

24
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1990/120
Stock No:

WPIEA1201990
ISBN:

9781451939569
ISSN:

1018-5941

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