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Monetary Transmission in Low Income Countries
By:Mr. Peter Montiel,Mr. Antonio Spilimbergo,Prachi Mishra
Published on 2010-10-01 by International Monetary Fund

This paper reviews monetary transmission mechanisms in low-income countries (LICs) to identify aspects of the channels that may operate differently in LICs relative to advanced and emerging economies. Given the weak institutional frameworks, reduced role of securities markets, imperfect competition in the banking sector and the resulting high cost of bank lending to private firms, the traditional channels (interest rate, bank lending, and asset price) are impaired in LICs. The exchange rate channel is also undermined by central bank intervention in the foreign exchange market. These conclusions are supported by review of the institutional frameworks, statistical analysis, and previous literature.
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Book which was published by International Monetary Fund since 2010-10-01 have ISBNs, ISBN 13 Code is 9781455275892 and ISBN 10 Code is 1455275891
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