 The evolution of monetary policy in transition economiesJosef Brada and Ali Kutan Review, 2000, vol. 82, issue Mar, 40 pages Abstract: The last decade of the 20th century brought about many economic and financial changes in the economies of the former communist countries. This paper provides an overview of the developments that took place in the areas of financial markets and institutions and monetary policy in three of the most advanced transition economies, namely, the Czech Republic, Hungary and Poland. After examining the evolution of monetary policy in each country, the problems that monetary authorities have faced in these countries are highlighted, and the current approach to managing inflation is described. Although monetary policy has made a significant contribution to stabilization, the relative newness and fragility of these countries' markets and institutions remains a concern because of the heavy burden placed on monetary authorities in the battle to reduce inflation. It will be important to continue to strengthen the capital market in these countries and to provide more active fiscal policy support for monetary policy. Keywords: Poland; Czech Republic; Hungary; Monetary policy (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:fip:fedlrv:y:2000:i:mar:p:31-40:n:v.82no.2 Access Statistics for this article Review is currently edited by Juan M. Sanchez More articles in Review from Federal Reserve Bank of St. Louis Contact information at EDIRC. |
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