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Monetary Policy in Low Financial Development Countries - Oxford Scholarship Online
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Monetary Policy in Low Financial Development Countries

Juan Antonio Morales and Paul Reding

Abstract

The book gives broad coverage of monetary policy issues in Low Financial Development Countries (LFDCs). These low- and lower-middle-income countries are characterized by a predominance of bank finance, shallow financial markets, low financial inclusion, weak integration with world capital markets, and a high degree of informality in economic activity. Monetary policy acquires special twists, making it different in many aspects from the policies followed in advanced and emerging market economies. The book covers the main facets of monetary policy-making, using an approach that combines discussi ... More

Keywords: monetary policy, central banks, monetary policy instruments, monetary targets, monetary transmission channels, external shocks, fiscal dominance

Bibliographic Information

Print publication date: 2021 Print ISBN-13: 9780198854715
Published to Oxford Scholarship Online: August 2021 DOI:10.1093/oso/9780198854715.001.0001

Authors

Affiliations are at time of print publication.

Juan Antonio Morales, author
Emeritus Professor of Economics, Universidad Católica Boliviana, La Paz, Bolivia

Paul Reding, author
Emeritus Professor of Economics, University of Namur, Belgium