Payment Systems and Economic Development in Transitional Economies

M.J. Fry

Working Papers from University of Birmingham - International Financial Group

Abstract: In most countries, central banks are responsible for the country's national or wholesale payment systems as well as monetary policy and financial stability. In the transitional economies, central bankers have faced uncompetitive and uncooperative commercial banking systems. Despite or because o f this, central banks in the transitional economies are more heavily involved in their countries' payment systems than are central banks in the industrial countries. This paper has two basic objectives. The first is to examine the reasons why central banks are interested in payment systems. The second is an overview of the role of central banks in the payment system reform in transitional economies; Poland is used as the main example.

Keywords: MONETARY POLICY; ECONOMIC DEVELOPMENT; CENTRAL BANKS (search for similar items in EconPapers)
JEL-codes: E52 O23 P34 (search for similar items in EconPapers)
Pages: 15 pages
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:fth:birmif:98-04

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