Financial Sector Reform and Monetary Policy in the Netherlands

Author/Editor:

Paul Louis Ceriel Hilbers

Publication Date:

February 1, 1998

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

Financial sector liberalization, both domestic and in cross-border transactions, was a major force behind the gradual move to indirect controls and the shift toward full reliance on exchange rate targeting in the Netherlands. This paper analyzes the different steps in this process, discusses the main arguments behind the gradual approach, and draws lessons for other countries involved in this process. The paper argues that reforms in the financial sector, liberalization of the capital account, adjustments in supervision and regulation, and modernization of monetary management are strongly interrelated and should be part of a comprehensive reform strategy.

Series:

Working Paper No. 1998/019

Subject:

Banking Credit Credit ceilings Credit controls Exchange rates Financial markets Foreign exchange Monetary expansion Monetary policy Money Money markets

English

Publication Date:

February 1, 1998

ISBN/ISSN:

9781451922585/1018-5941

Stock No:

WPIEA0191998

Pages:

29

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