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dc.titleWholesale Payments Systems and Financial Discipline, Efficiency, and Liquidity
dc.contributor.authorFolkerts-Landau, David
dc.contributor.orgunitDepartment of Research and Chief Economist
dc.date.available2011-02-07T00:00:00
dc.date.issue1997-07-01T00:00:00
dc.description.abstractThe experience of a large number of countries since the mid-1970s has demonstrated the limited potential for activist monetary and fiscal policies to influence real macroeconomic performance on a sustained basis. Given the central role of the financial sector in pricing and allocating capital and risk, attention has focused on the architecture of this sector. Heading the reform agenda now are issues pertaining to the relation between the central bank, commercial banks and the wholesale payments system, the financial supervisory and regulatory environment, the development of capital markets, pension reforms, and risk management. This paper considers the lessons that are emerging from payments system reform currently underway in some major industrial countries.
dc.format.extent27
dc.identifier.doihttp://dx.doi.org/10.18235/0011571
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Wholesale-Payments-Systems-and-Financial-Discipline-Efficiency-and-Liquidity.pdf
dc.language.isoen
dc.mediumAdobe PDF
dc.publisherInter-American Development Bank
dc.subjectFinancial Crisis and Structural Adjustement
dc.subjectFinancial Sector
dc.subject.keywordsefficiency;liquidity;RTGS;industrial countries;WP-370;wholesale payments systems
idb.identifier.pubnumberWorking Papers
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