01734cas a2200241 a 4500 AALejournalIMF002055 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451851762 1018-5941 BD-DhAAL BD-DhAAL Hook, Andrew. Managing Payment System Risk During the Transition From a Centrally Planned to a Market Economy / Andrew Hook. Washington, D.C. : International Monetary Fund, 1992. 1 online resource (49 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The objectives and functions of payments systems in centrally planned economies are described and analyzed. These are compared to those of payments systems in market economies and to the characteristics of an ideal payments system. The dominant role of the state in the centrally planned economies meant that the state underwrote virtually all payments risk. With the withdrawal of the state, however, participants became exposed to credit, liquidity, and operational risks. In the transition, the central bank has a key role to play in payments systems. Areas where rapid improvements are possible are: accounting, clearing, settlement, netting and standardization. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1992/095 Full text available on IMF http://elibrary.imf.org/view/journals/001/1992/095/001.1992.issue-095-en.xml IMF e-Library