How effective is monetary transmission in low-income countries? [[electronic resource] ] : a survey of the empirical evidence / / Prachi Mishra and Peter Montiel

• Record Nr.: UNINA9910452601203321
• Autore: Mishra Prachi <1975->
• Pubbl/distr/stampa: Washington, D.C., : International Monetary Fund, c2012
• ISBN: 1-4755-8119-X; 1-4755-4380-8
• Descrizione fisica: 1 online resource (49 p.)
• Collana: IMF working paper ; ; 12/143
• Altri autori (Persone): MontielPeter
• Soggetti: Monetary policy - Developing countries; Finance - Developing countries; Electronic books.
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Cover; Contents; I. Introduction; II. Monetary transmission and the bank lending channel in developing countries; III. Empirical Methedology; IV. Sub-Saharan Africa; V. Transition economies in central and Eastern Europe (CEE); VI. Transition economies in central Asia (CEE); VII. The Middle East and North Africa (MENA); VIII. Asia-Pacific; IX. Latin America and the Caribbean; X. Summary and conclusions; Appendix: Institutional Quality, Bank Competition, and the Effectiveness of the Bank lending Channel; References; Tables; Table 1. Financial Environment Across Countries, Sub-Saharan Africa; Table 2. Monetary Transmission in Sub-Saharan AfricaTable 3. Financial Environment Across Countries, Central and Eastern Europe; Table 4. Monetary Transmission in Central and Eastern Europe; Table 5. Financial Environment Across Countries, Central Asia; Table 6. Monetary Transmission in Central Asia; Table 7. Financial Environment Across Countries, Middle East and North Africa; Table 8. Monetary Transmission in the Middle East and North Africa; Table 9. Financial Environment Across Countries, Asia and Pacific; Table 10. Monetary Transmission in Asia and the Pacific; Table 11. Financial Environment Across Countries, Latin America and the CaribbeanTable 12. Monetary Transmission in Latin America and ; the Caribbean
• Sommario/riassunto: This paper surveys the evidence on the effectiveness of monetary transmission in low-income countries. It is hard to come away from this review with much confidence in the strength of monetary transmission in such countries. We distinguish between the ""facts on the ground"" and ""methodological deficiencies"" interpretations of the absence of evidence for strong monetary transmission. We suspect that ""facts on the ground"" are an important part of the story. If this conjecture is correct, the stabilization challenge in developing countries is acute indeed, and identifying the means of enhan