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New monetary policy tools in emerging market economies
[Nouveaux instruments de politique monétaire dans les économies de marché émergentes]

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  • Valentin Burban

Abstract

Emerging market economies have progressively adopted unconventional monetary policies such as interest rate guidance and asset purchases in order to gain additional policy space. This post reviews the recent literature on these new tools, which complement the policy toolkit of emerging market central banks amid global financial spillovers. Les économies de marché émergentes ont progressivement adopté des mesures non conventionnelles de politique monétaire, telles que les indications sur les taux d’intérêt (interest rate guidance) et les achats d’actifs, afin de disposer d’une plus grande marge de manœuvre. Ce billet examine la littérature récente sur ces nouveaux outils, qui complètent la panoplie d’instruments de politique monétaire des banques centrales des marchés émergents dans un contexte d’effets de contagion financière au niveau mondial.

Suggested Citation

  • Valentin Burban, . "New monetary policy tools in emerging market economies [Nouveaux instruments de politique monétaire dans les économies de marché émergentes]," Eco Notepad (in progress), Banque de France.
  • Handle: RePEc:bfr:econot:358
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