High Real Interest Rates Under Financial Liberalisation: Is There A Problem?

Vicente Galbis

in Occasional Papers from South East Asian Central Banks (SEACEN) Research and Training Centre

Abstract: This study which used a sample of 28 countries that underwent financial liberalisation since the 1970s, examines the evidence on the emergence of high real interest rates and discusses the possible causes and likely effects. It considers some remedies - preferably preventive - including macroeconomic stabilisation, fiscal consolidation, improvements in prudential regulation and supervision of the financial sector, and introduction of an efficient management of indirect monetary policy instruments.

Date: 1998
ISBN: 983-9478-03-6
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