01792cas a2200241 a 4500 AALejournalIMF003222 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451921076 1018-5941 BD-DhAAL BD-DhAAL Bredenkamp, Hugh. Conducting Monetary and Credit Policy in Countries of the Former Soviet Union : Some Issues and Options / Hugh Bredenkamp. Washington, D.C. : International Monetary Fund, 1993. 1 online resource (26 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 surveys some of the principal monetary policy issues facing countries of the former U.S.S.R. The emphasis is on the immediate problem of imposing financial discipline in these economies, to bring down inflation quickly and decisively. Possible options for the essential nominal anchor are considered, together with the problems of selecting appropriate targets and instruments for monetary policy needed to make that anchor effective. It is argued that, if the stabilization effort is to be sustained, discipline must be imposed at the micro- as well as the macro-level, and the paper suggests a second-best approach to the allocation of credit in the absence of well-functioning credit markets. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1993/023 Full text available on IMF http://elibrary.imf.org/view/journals/001/1993/023/001.1993.issue-023-en.xml IMF e-Library