Inflation and Economic Growth in Kenya
Author | : Talknice Saungweme |
Publisher | : |
Total Pages | : |
Release | : 2021 |
Genre | : |
ISBN | : |
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Author | : Talknice Saungweme |
Publisher | : |
Total Pages | : |
Release | : 2021 |
Genre | : |
ISBN | : |
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 125 |
Release | : 1995-12-15 |
Genre | : Business & Economics |
ISBN | : 1451821034 |
This paper reviews economic developments in Kenya during 1990–95. Real GDP growth decelerated from 4.3 percent in 1990 to close to zero in 1992/93. Inflation accelerated from 12 percent in the 12-month period ended December 1989 to 34 percent in March 1993. The central government’s budget deficit increased from 6.7 percent in 1989/90 to 11.4 percent of GDP in 1992/93. Broad money growth (M2) accelerated from 21 percent in the 12-month period ended December 1991 to 36 percent in March 1993.
Author | : Malcolm F. MacPherson |
Publisher | : |
Total Pages | : 30 |
Release | : 1998 |
Genre | : |
ISBN | : |
Author | : Michal Andrle |
Publisher | : International Monetary Fund |
Total Pages | : 106 |
Release | : 2013-03-07 |
Genre | : Business & Economics |
ISBN | : 1475516525 |
We develop a semi-structural new-Keynesian open-economy model, with separate food and non-food inflation dynamics, for forecasting and monetary policy analysis in low-income countries and apply it to Kenya. We use the model to run several policy-relevant exercises. First, we filter international and Kenyan data (on output, inflation and its components, exchange rates and interest rates) to recover a model-based decomposition of most variables into trends (or potential values) and temporary movements (or gaps)—including for the international and domestic relative price of food. Second, we use the filtration exercise to recover the sequence of domestic and foreign macroeconomic shocks that account for business cycle dynamics in Kenya over the last few years, with a special emphasis on the various factors (international food prices, monetary policy) driving inflation. Third, we perform an out-of-sample forecast to identify where the economy—and therefore policy—was likely headed given the inflationary pressures at the end of our sample (2011Q2). We find that while imported food price shocks have been an important source of inflation, both in 2008 and more recently, accommodating monetary policy has also played a role, most notably through its effect on the nominal exchange rate. The model correctly predicted that a policy tightening was required, although the actual interest rate increase was larger. We discuss implications for the use of model-based policy analysis in low income countries.
Author | : David Mwiti Mukiri |
Publisher | : IPR Journals and Book Publishers |
Total Pages | : 126 |
Release | : 2022-12-30 |
Genre | : Business & Economics |
ISBN | : 9914728723 |
TOPICS IN THE BOOK Effects of Institutional Reforms on Financial Sector Development in Selected East Africa Community Member States Determinants of Equilibrium Real Exchange Rate and It’s Misalignment in Kenya 2000-2016: An Autoregressive Distributed Lag Approach Effect of Macroeconomic Factors on Economic Growth in Kenya Wage Determination in the Domestic Services Sector in Kahawa and Githurai Estates in Kiambu County, Kenya
Author | : F. M. Mwega |
Publisher | : |
Total Pages | : 46 |
Release | : 1994 |
Genre | : Kenya |
ISBN | : |
Author | : Robert Pollin |
Publisher | : Edward Elgar Publishing |
Total Pages | : 294 |
Release | : 2008 |
Genre | : Business & Economics |
ISBN | : |
The Kenyan economy has experienced improved economic growth in recent years, and the government has maintained a commitment to generating 500,000 new jobs per year. But the country still faces severe problems of poverty-level employment - people working full-time yet living with their families in poverty. This study develops detailed proposals for greatly expanding decent employment opportunities in Kenya, and to accomplish this in a manner that also creates a wide range of employment and business opportunities, including those for small and medium-sized enterprises, agricultural small holders, commercial banks, and microfinance institutions.
Author | : Michael Kithinji |
Publisher | : GRIN Verlag |
Total Pages | : 39 |
Release | : 2022-06-07 |
Genre | : Political Science |
ISBN | : 3346656209 |
Bachelor Thesis from the year 2021 in the subject Politics - Region: Africa, , language: English, abstract: This paper discusses the effect of public debt and budget deficit on Kenya's economic growth. Kenya's public debt has proliferated, precipitating debate on its impact on economic performance and causing public anxiety. The purpose of this quantitative ex post facto study was to investigate the long run and causal relationship between Kenya's public debt and economic growth. Keynesian's theory, Ricardian equivalence theory, and neoclassical theory provided the framework for the study. Research questions one and two address the causal relationship between public debt and select covariates as independent variables and actual gross domestic product (GDP) growth rate as the dependent variable. Research question three addresses the relationship between primary budget balance and public debt. Archival data were analyzed using the vector error correction model and autoregressive distributed lag methods. Findings show a positive long-run causality between public debt and real GDP growth. The relationship between primary budget balance and public debt is positive and statistically significant, demonstrating that Kenya's debt is sustainable. Findings may be used to promote the adoption of fiscal policies that increase economic growth, savings, investments, job creation, and living standards of Kenyans. For a good economy to thrive in any given country, there should be plenty of productive resources for its needs at that particular time. In most countries, especially Kenya, needs are growing while the resources to meet them are insufficient or even depleted completely. The growing budget has become a problem for the Kenyan government since our economies are expanding. However, the rate is not able to meet the rising demand for the ever-increasing population. At this level, the country is forced to procure internal and external debts to finance its budget deficit. However, in the long run, this does not solve the problem because the investment programs do not give good returns, hence losing.
Author | : Margaret Ngaruiya, Mongare. G. Kemunto, Mahad Mohamed |
Publisher | : AJPO Journals USA LLC |
Total Pages | : 124 |
Release | : 2023-10-11 |
Genre | : Business & Economics |
ISBN | : 9914745792 |
TOPICS IN THE BOOK Effects of Economic Growth on Bond Prices Effect of Exchange Rates on Bonds Prices: A Survey of Bonds Listed at the Nairobi Securities Exchange Effect of Macroeconomic Factors on Bond Prices: A Survey of Bonds Listed at the Nairobi Securities Exchange Influence of Inflation on Bond Prices: A Survey of Bonds Listed at the Nairobi Securities Residential Housing Demand in Nairobi; A Hedonic Pricing Approach Determinants of Labour Demand, A Case of Mogadishu City, Somalia
Author | : Jongrim Ha |
Publisher | : World Bank Publications |
Total Pages | : 513 |
Release | : 2019-02-24 |
Genre | : Business & Economics |
ISBN | : 1464813760 |
This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.