Managing monetary policy reforms. Lessons from the French experience
DOI:
https://doi.org/10.13133/2037-3643/10625Keywords:
French monetary policyAbstract
Several countries are currently engaged in a transition from direct to indirect instruments of monetary policy within the context of financial liberalisation programmes. However, this transition may result in a loss of monetary control, thereby stimulating the authorities to revert to direct controls. An exploration is undertaken of the factors that may have contributed to the failure and success of French efforts to adopt a market-orientated policy approach.
JEL: E52
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