(OCC24) Core Inflation: Concepts Uses and Measurement by Scott Roger
This paper has five sections. Section I covers the introduction while Section II reviews the concept of core inflation. Section III discusses the uses of core inflation in policy formulation policy accountability and forecasting and uses these considerations in setting out desirable properties of a practical measure. Section IV considers the pros and cons of…
(OCC23) Inflation Targeting in Practice by Guy Debelle
This paper offers a practical guide for the adoption of inflation targeting as a monetary policy strategy. It discusses the practical issues that have risen in the operation of an inflation targeting framework and highlights the five major features of a framework: assignment of the target interaction with other policy goals definition of the target…
(OCC22) High Real Interest Rates Under Financial Liberalisation: Is There A Problem by Vicente Galbis
This study which used a sample of 28 countries that underwent financial liberalisation since the 1970s examines the evidence on the emergence of high real interest rates and discusses the possible causes and likely effects. It considers some remedies – preferably preventive – including macroeconomic stabilisation fiscal consolidation improvements in prudential regulation and supervision of…
(OCC21) Timing and Sequencing of Financial Sector Reforms: Evidence and Rationale by Deena Khatkhate
This paper has five sections. Section I covers the introduction while Section II presents a brief account of a changing perspective on financial reform as it has evolved since the 1970s both from the point of view of the implementation of financial reform policies and the theoretical developments in academic literature. Section III outlines the…
(OCC20) Rapid growth in Asian Economies: A Review of Some Issues and Evidence by Anoop Singh
This paper reviews the growth experience of the fast growing countries of Asia with focus on SEACEN countries. It surveys empirical evidence on growth and examines its links in economic policies.
(OCC19) Payment Systems in Developing Countries: Lessons for a Small Economy by Andrew Sheng
This paper was presented at the SEACEN Course on Banking Laws and Regulations mounted at The SEACEN Centre on 7 – 25 November 1994. This paper surveys the major issues in planning and regulating payment systems in developing countries. The focus is on the issues affecting payment systems in small economies. Sections I gives a…
(OCC18) The Reserve Bank of Australias Foreign Exchange Market Operations by Stephen Grenville
This paper was presented at the SEACEN Seminar on Foreign Exchange Liberalization Expe- riences in the SEACEN Countries held in Seoul and hosted by The Bank of Korea from May 30 – June 1 1994. Australias floating exchange rate system is the topic of this paper. It begins by describing the background to the float…
(OCC28) Use and Liberalisation of Capital Controls: Country Experiences and Issues by R. Barry Johnston and Jorge Ivan Canales-Kriljenko
This paper reviews the issues involved in the use and liberalisation of capital controls as experienced by some of the IMF member countries. Apart from reviewing the nature and scope of capital controls it delves into the theoretical considerations in the use of capital controls speed and sequencing of capital account liberalisation in the crisis-hit…
(OCC29) Canada Deposit Insurance: Moral Hazard and the Safety Net and a Differential Premium System by David Walker
This paper consists of two parts. Part I discusses the Canadian experience with moral hazard and deposit insurance. It takes a look at the benefits and costs of deposit insurance and the future policy issues in Canada with regard to the safety net and deposit insurance. Part II analyses the Canada Deposit Insurance Corporations Differential…
(OCC36) Protecting Banks from Liquidity Shocks: The Role of Deposit Insurance and Lending of Last Resort by Joo A.C. Santos
This paper reviews the literature on the two arrangements that most countries adopted to protect banks from liquidity shocks a lender of last resort and deposit insurance and compares the design of these arrangements across countries. The paper ends with a brief summary of both the key lessons learned about the design of these arrangements…