01746cas a2200241 a 4500 AALejournalIMF003033 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451939187 1018-5941 BD-DhAAL BD-DhAAL Turtelboom, Bart. Interest Rate Liberalization : Some Lessons From Africa / Bart Turtelboom. Washington, D.C. : International Monetary Fund, 1991. 1 online resource (46 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 This paper undertakes a survey of theoretical considerations and an analysis of the experience of five African countries with interest rate liberalization. Despite substantial progress in monetary policy reforms, liberalization has only partially affected the level and variability of interest rates. Several factors-macroeconomic instability, oligopolistic financial markets, the absence of developed capital markets, as well as the sequencing of the liberalization programs and the asymmetric availability of information-explain the increase in the spread between lending and deposit rates as well as the rather inflexible pattern of interest rates during the transition to a market-based financial system. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1991/121 Full text available on IMF http://elibrary.imf.org/view/journals/001/1991/121/001.1991.issue-121-en.xml IMF e-Library