Financial Sector Reform and Monetary Policy in the Netherlands
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Summary:
Financial sector liberalization, both domestic and in cross-border transactions, was a major force behind the gradual move to indirect controls and the shift toward full reliance on exchange rate targeting in the Netherlands. This paper analyzes the different steps in this process, discusses the main arguments behind the gradual approach, and draws lessons for other countries involved in this process. The paper argues that reforms in the financial sector, liberalization of the capital account, adjustments in supervision and regulation, and modernization of monetary management are strongly interrelated and should be part of a comprehensive reform strategy.
Series:
Working Paper No. 1998/019
Subject:
Banking Credit Credit ceilings Credit controls Exchange rates Financial markets Foreign exchange Monetary expansion Monetary policy Money Money markets
English
Publication Date:
February 1, 1998
ISBN/ISSN:
9781451922585/1018-5941
Stock No:
WPIEA0191998
Pages:
29
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