Interest Rate Liberalization: Some Lessons From Africa
This paper undertakes a survey of theoretical considerations and an analysis of the experience of five African countries with interest rate liberalization. Despite substantial progress in monetary policy reforms, liberalization has only partially affected the level and variability of interest rates....
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
1991
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Schriftenreihe: | IMF Working Papers
Working Paper No. 91/121 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
Zusammenfassung: | This paper undertakes a survey of theoretical considerations and an analysis of the experience of five African countries with interest rate liberalization. Despite substantial progress in monetary policy reforms, liberalization has only partially affected the level and variability of interest rates. Several factors-macroeconomic instability, oligopolistic financial markets, the absence of developed capital markets, as well as the sequencing of the liberalization programs and the asymmetric availability of information-explain the increase in the spread between lending and deposit rates as well as the rather inflexible pattern of interest rates during the transition to a market-based financial system |
Beschreibung: | 1 Online-Ressource (46 p) |
ISBN: | 1451939183 9781451939187 |
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spelling | Turtelboom, Bart Verfasser aut Interest Rate Liberalization Some Lessons From Africa Turtelboom, Bart Washington, D.C International Monetary Fund 1991 1 Online-Ressource (46 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 91/121 This paper undertakes a survey of theoretical considerations and an analysis of the experience of five African countries with interest rate liberalization. Despite substantial progress in monetary policy reforms, liberalization has only partially affected the level and variability of interest rates. Several factors-macroeconomic instability, oligopolistic financial markets, the absence of developed capital markets, as well as the sequencing of the liberalization programs and the asymmetric availability of information-explain the increase in the spread between lending and deposit rates as well as the rather inflexible pattern of interest rates during the transition to a market-based financial system Online-Ausg http://elibrary.imf.org/view/IMF001/03638-9781451939187/03638-9781451939187/03638-9781451939187.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Turtelboom, Bart Interest Rate Liberalization Some Lessons From Africa |
title | Interest Rate Liberalization Some Lessons From Africa |
title_auth | Interest Rate Liberalization Some Lessons From Africa |
title_exact_search | Interest Rate Liberalization Some Lessons From Africa |
title_exact_search_txtP | Interest Rate Liberalization Some Lessons From Africa |
title_full | Interest Rate Liberalization Some Lessons From Africa Turtelboom, Bart |
title_fullStr | Interest Rate Liberalization Some Lessons From Africa Turtelboom, Bart |
title_full_unstemmed | Interest Rate Liberalization Some Lessons From Africa Turtelboom, Bart |
title_short | Interest Rate Liberalization |
title_sort | interest rate liberalization some lessons from africa |
title_sub | Some Lessons From Africa |
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