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Financial Sector Reform and Central Banking in Centrally Planned Economies


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  • International Monetary Fund
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    This paper reviews key areas of central banking reform in a sample of centrally planned economies undergoing transition to market-based systems. The discussion draws mainly on the experiences of four countries, Hungary, Poland, Czechoslovakia, and China. Significant efforts have been made, or are under consideration, in all countries to develop a more efficient framework for monetary management, and to provide greater autonomy to central banks in macro stabilization policies. These objectives call for a coordinated approach to strengthening a wide range of central banking functions simultaneously, and require that a core mass of supporting financial sector reforms be implemented to ensure effective transformation and stabilization with minimal transitional costs.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 90/120.

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    Length: 24
    Date of creation: 01 Dec 1990
    Date of revision:
    Handle: RePEc:imf:imfwpa:90/120

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    Keywords: Centrally planned economies; Bank reforms; Bank supervision; Financial sector; banking; central bank; banking system; national bank; monetary policy; banking supervision; foreign exchange; central banking; monetary control; bank credit; state bank; banking reform; banking industry; money market; monetary management; money markets; banking reforms; reserve requirements; settlement system; banking structure; time deposit; savings bank; monetary policy instruments; inflation; monetary fund; foreign exchange exposure; banking services; monetary policy framework; reserve requirement; interbank market; monetary statistics; monetary system; banking legislation; capital adequacy; liquidity management; bankrupt; bank securities; bank reserves; clearing system; banking activities; bank staff; bank guarantees; bank bonds; macroeconomic stability; bank board; bank transactions; bankers; monetary policies; banking operations; bank branches; bank system; bank closures; monetary aggregates; monetary expansion; interest sensitivity; bank accounts; investment bank; banking laws; new money; bank deposits; disintermediation; bankers ? acceptances;

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    Cited by:
    1. Neyapti, Bilin, 2001. "Central bank independence and economic performance in eastern Europe," Economic Systems, Elsevier, vol. 25(4), pages 381-399, December.


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