Capital Inflows in the Baltic Countries, Russia, and Other Countries of the Former Soviet Union: Monetary and Prudential Issues

Alain Ize

No 1996/022, IMF Working Papers from International Monetary Fund

Abstract: Significant capital inflows were observed during the first half of 1995 in a number of FSU countries. This paper reviews the recent experience of those countries with significant inflows, examines policy responses in view of the current macroeconomic and institutional environment, discusses the use of monetary and prudential instruments to sterilize or discourage inflows, and reviews operational considerations for conducting sterilization operations.

Keywords: WP; FSU; market; bank; monetary policy; cost; FSU country; nominal exchange rate; market liquidity; sterilization instrument; financial situation; Sterilization; Capital inflows; Inflation; Reserve requirements; Monetary base; Baltics (search for similar items in EconPapers)
Pages: 42
Date: 1996-02-01
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