IMF Working Papers

The Payments Systems Reforms and Monetary Policy in Emerging Market Economies in Central and Eastern Europe

January 1, 1994

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Format: Chicago

The Payments Systems Reforms and Monetary Policy in Emerging Market Economies in Central and Eastern Europe, (USA: International Monetary Fund, 1994) accessed November 21, 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

The paper discusses the interrelationships between payments system reform and monetary policy implementation in selected countries in Central and Eastern Europe. The reforms in the payments system are viewed as closely interrelated with the development of money and foreign exchange markets and the instruments of monetary policy used by the central banks. Large and variable float balances created special challenges. The paper shows that while departing from very similar origins, there were significant variations in experiences of the countries studied in transforming their payments systems after the start of the reforms towards a market economy, from which certain lessons can be drawn.

Subject: Banking, Commercial banks, Credit, Currency markets, Financial institutions, Financial markets, Fiscal accounting and reporting, Money, Money markets, Payment systems

Keywords: Bank reserves, Central and Eastern Europe, Commercial banks, Credit, Currency markets, Demand order, Monetary management, Monetary policy, Money markets, Noncash payment, Payment clearing, Payment order, Payment systems, Payment transaction, Payments agreement, Payments float, Payments instruction, Payments system arrangement, Processing payment, WP

Publication Details

  • Pages:

    40

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 1994/013

  • Stock No:

    WPIEA0131994

  • ISBN:

    9781451842944

  • ISSN:

    1018-5941

Notes

Also published in Staff Papers, Vol. 41, No. 3, September 1994.

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