01750cas a2200241 a 4500 AALejournalIMF007596 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451972801 1018-5941 BD-DhAAL BD-DhAAL Montiel, Peter. The Transmission Mechanism for Monetary Policy in Developing Countries / Peter Montiel. Washington, D.C. : International Monetary Fund, 1990. 1 online resource (30 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 In many developing countries the financial system is characterized by the absence of organized markets for securities and equities, by capital controls, and by legal ceilings on bank borrowing and lending rates, a situation which gives rise to parallel markets for foreign exchange and informal loan markets. This paper analyzes how changes in monetary policy instruments (bank credit, administered interest rates, required reserve ratios, and intervention in the parallel exchange market) are transmitted to domestic aggregate demand in a financially-repressed economy. Such an analysis is necessary to understand how the move to a more market-oriented system would affect the economy in the short run. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1990/047 Full text available on IMF http://elibrary.imf.org/view/journals/001/1990/047/001.1990.issue-047-en.xml IMF e-Library