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Stabilisation Targets and Instruments in Developing Countries

Stabilisation Targets and Instruments in Developing Countries The assignment of targets to instruments in developing countries cannot satisfactorily follow any simple universal rule. Which approach is appropriate is influenced by whether the economy is dominated by primary exports, by the importance of the domestic bond market and bank credit, by the extent of existing restriction in foreign exchange and financial markets, by the presence or absence of persistent high inflation, and by the existence or nonexistence of an active international market in the country's currency. Eighteen observations and maxims on stabilisation policy are tentatively drawn pp. 648 from the material reviewed, and the maxims are partly summarised pp. 6971 in a schematic assignment, with variations, of targets to instruments. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Economic Studies Emerald Publishing

Stabilisation Targets and Instruments in Developing Countries

Journal of Economic Studies , Volume 15 (2): 71 – Feb 1, 1988

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0144-3585
DOI
10.1108/eb002667
Publisher site
See Article on Publisher Site

Abstract

The assignment of targets to instruments in developing countries cannot satisfactorily follow any simple universal rule. Which approach is appropriate is influenced by whether the economy is dominated by primary exports, by the importance of the domestic bond market and bank credit, by the extent of existing restriction in foreign exchange and financial markets, by the presence or absence of persistent high inflation, and by the existence or nonexistence of an active international market in the country's currency. Eighteen observations and maxims on stabilisation policy are tentatively drawn pp. 648 from the material reviewed, and the maxims are partly summarised pp. 6971 in a schematic assignment, with variations, of targets to instruments.

Journal

Journal of Economic StudiesEmerald Publishing

Published: Feb 1, 1988

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