| Description |
1 online resource (iii, 30 pages) : illustrations |
| Series |
IMF working paper ; WP/91/121 |
|
IMF working paper ; WP/91/121.
|
| Summary |
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 factorsmacroeconomic instability, oligopolistic financial markets, the absence of developed capital markets, as well as the sequencing of the liberalization programs and the asymmetric availability of informationexplain 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 |
| Bibliography |
Includes bibliographical references (pages 29-30) |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
|
English |
|
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
|
Print version record |
| Subject |
Interest rates -- Africa
|
|
Economic policy
|
|
Interest rates
|
| SUBJECT |
Africa -- Economic policy
|
| Subject |
Africa
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| Form |
Electronic book
|
| Author |
International Monetary Fund. African Department, issuing body
|
| ISBN |
1455251437 |
|
9781455251438 |
|
1462322670 |
|
9781462322671 |
|
