Can Monetary Policy Be Effective During Transition? Lessons from Mongolia.

From: Finance & Development | Date: September 1, 2000| Author: Slok, Torsten | Copyright information

Mongolia has undergone dramatic changes during its transition to a market economy, with fundamental restructuring in both the real economy and the financial sector. How effective is monetary policy in such a changing environment?

A KEY ELEMENT of each former centrally planned economy's transition to a market economy has been the establishment of financial markets and institutions that can support such an economy. But introducing and, in particular, creating confidence in...

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