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Market-Base Systems of Monetary Control in Developing Countries: Operating Procedures and Related Issues


  • Chorng-Huey Wong


This paper reviews issues in the development of a market-based system of monetary control in the context of financial reform in developing countries. It discusses the appropriate sequencing of financial reform measures that would facilitate the transition toward a market-based system. The paper also assesses the effects of financial reform on the demand for money function and stresses the importance of developing up-to-date economic indicators for policy formulation and implementation in the situation of unstable money demand.

Suggested Citation

  • Chorng-Huey Wong, 1991. "Market-Base Systems of Monetary Control in Developing Countries: Operating Procedures and Related Issues," Occasional Papers, South East Asian Central Banks (SEACEN) Research and Training Centre, number occ12, April.
  • Handle: RePEc:sea:opaper:occ12

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