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Macroeconomic Implications of Financial Dollarization
Mr.R. Gelos
Mr.Alejandro Lopez Mejia
Mr.Marco A. Piñón-Farah
其他書名
The Case of Uruguay
出版
International Monetary Fund
, 2008-07-25
主題
Business & Economics / Banks & Banking
Business & Economics / Money & Monetary Policy
Business & Economics / Inflation
ISBN
1589067274
9781589067271
URL
http://books.google.com.hk/books?id=vLYaEAAAQBAJ&hl=&source=gbs_api
EBook
SAMPLE
註釋
Uruguay has experienced a remarkable recovery since the 2002 crisis, supported by sound policies and favorable external conditions. With the framework put in place in 2002, Uruguay abandoned an exchange rate peg in favor of a free float, adoped a monetary regime initially based on money targets, improved financial prudential norms and supervision, and accumulated significant central bank reserves. Against this background, Uruguay now faces issues beyond those addressed to stabilize the economy. As the country pursues key postcrisis monetary and financial reforms, the analysis provided in this paper has a direct bearing on the ongoing efforts to move toward a fully fledged inflation-targeting regime and develop interest rates as monetary instruments, as well as on the preparedness of the financial system to deal with shocks, and the adequacy of current central bank reserves.