Cross-Country and Cross-Sector Analysis of Transparency of Monetary and Financial Policies

45 Pages Posted: 21 Sep 2011

See all articles by Plamen Yossifov

Plamen Yossifov

International Monetary Fund (IMF)

Udaibir Das

International Monetary Fund (IMF)

V. Sundararajan

International Monetary Fund (IMF)

Multiple version iconThere are 2 versions of this paper

Date Written: May 2003

Abstract

In this paper we construct indices of transparency of monetary and financial policies, based on self-evaluations carried out by 135 IMF member countries in 1999, and use them to identify transparency patterns across different policies and country groups. We find that across all countries, transparency is highest in the formulation and conduct of monetary policy and lowest in insurance supervision and deposit-insurance oversight. Across country groups having similar political/economic characteristics, the average degree of transparency is highest in advanced countries and lowest in developing ones for both monetary policy and those financial policies for which there are differences between country group means.

Keywords: Transparency, Standards and codes

Suggested Citation

Yossifov, Plamen and Das, Udaibir and Sundararajan, V., Cross-Country and Cross-Sector Analysis of Transparency of Monetary and Financial Policies (May 2003). IMF Working Paper No. 03/94, Available at SSRN: https://ssrn.com/abstract=1930790

Plamen Yossifov (Contact Author)

International Monetary Fund (IMF)

700 19th Street NW
Washington, DC 20431
United States

Udaibir Das

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

V. Sundararajan

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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