Monetary policy in developing countries

목차 (Table of Contents)

• CONTENTS
• Figures and tables = ⅸ
• Acknowledgements = xii
• Part Ⅰ The nature of monetary policy and the financial sector
• 1 THE NEW DEMAND FOR MONETARY DEVELOPMENT / Sheila Page = 3
• The new interest in monetary Policy = 6
• What monetisation can do for developing countries = 8
• Why developing countries are different = 9
• 2 THE INSTITUTIONAL FRAMEWORK / Tony Addison ; Lionel Demery = 11
• Monetisation = 11
• Informal and formal money institutions and markets = 12
• The banking system = 13
• The market for securities = 14
• Measuring money = 14
• 3 AN ANALYTICAL FRAMEWORK / Tony Addison ; Lionel Demery = 17
• The sources of money creation = 17
• A money-multiplier model = 18
• The demand for money = 21
• Issues concerning causality = 22
• 4 A FRAMEWORK FOR POLlCY ANALYSIS / Tony Addison ; Lionel Demery ; Sheila Page = 25
• Targets for monetary control = 25
• Methods of monetary control = 26
• Policy questions = 35
• Part Ⅱ Country studies
• 5 KENYA, 1967-88 / Tony Killick ; F. M. Mwega = 39
• Introduction = 39
• The economic setting = 39
• Research findings = 47
• Policy conclusions = 72
• 6 GHANA, 1957-88 / Nii Kwaku Sowa = 79
• Introduction = 79
• The state of the economy = 80
• The structure and operations of the financial system = 85
• Model of the money market = 93
• Monetary policy implementation, 1957-88 = 101
• Conclusions = 104
• 7 C$$\hat O$$TE D'IVOIRE, 1973-88 / Christopher E. Lane = 107
• Introduction = 107
• The state of the economy = 107
• The structure and operations of the financial system = 109
• Instruments of monetary policy = 115
• Problems of monetary control = 122
• Real economy effects of monetary policy = 126
• Evaluating membership of the UMOA = 128
• Conclusions = 133
• 8 INDONESIA, 1974-90 / Christopher E. Lane ; David C. Cole ; Betty F. Slade = 137
• Introduction = 137
• The financial system = 138
• Monetary policy implementation 1974-82 = 141
• Monetary policy implementation 1983-90 = 147
• Demand for money = 155
• Conclusions = 160
• 9 BANGLADESH, 1973-85 / Ashok Parikh = 165
• Introduction = 165
• State of the economy = 165
• The process of monetisation = 169
• Monetary policy instruments and control = 170
• Problems of monetary policy implementation = 173
• Impact of agricultural and industrial policy on demand for credit = 178
• Appendix: Econometric models of Bangladesh monetary sector = 180
• 10 CHINA, 1949-88 / Anita Santorum = 185
• Introduction = 185
• Financial institutions = 187
• Money supply and demand = 206
• Aggregate and sectoral effects of the central bank's monetary policy = 211
• Conclusion = 220
• Appendix = 222
• Part Ⅲ Special studies
• 11 THE INFORMAL FINANCIAL SECTOR: HOW DOES IT OPERATE AND WHO ARE THE CUSTOMERS? / J. J. Thomas = 227
• Introduction = 227
• Formal financial institutions and the rural traditional and urban informal sectors = 228
• Informal financial institutions = 234
• The informal financial sector and monetary policy = 245
• Conclusions = 247
• 12 EXCHANGE RATES AND THE EFFECTIVENESS OF MONETARY POLICY / Christopher E. Lane = 251
• Nominal anchors and real targets = 251
• Changes in exchange-rate arrangements = 254
• The 'nominal anchor' in the Franc Zone = 257
• Raising the anchor: currency floats in the 1980s = 262
• Real targets: a feasible policy objective in developing countries? = 270
• The conditions for using, exchange-rate policy = 273
• Part Ⅳ Monetary policy and the financial sector
• 13 THE USE OF MONETARY POLICY / John Healey ; Sheila Page = 279
• Monetary policy? = 280
• How effective has monetary policy been in achieving stabilisation objectives? = 286
• Monetary policy with external shocks = 288
• 14 THE FINANCIAL SECTOR / Sheila Page ; John Healey = 297
• Monetary Instruments and their effectiveness = 297
• Constraints on the effective implementation of monetary policy in developing countries = 304
• Developing the financial sector = 311
• 15 THE RELATIONSHIP BETWEEN FORMAL AND INFORMAL FINANCE / Sheila Page = 319
• 16 MONETARY POLICY AND DEVELOPMENT / Sheila Page = 325
• Notes = 329
• References = 339
• Index = 359