Monetary Transmission Mechanism In The East African Community PDF Download
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Author | : Mr.Hamid Reza Davoodi |
Publisher | : International Monetary Fund |
Total Pages | : 59 |
Release | : 2013-02-06 |
Genre | : Business & Economics |
ISBN | : 1475530579 |
Download Monetary Transmission Mechanism in the East African Community Book in PDF, ePub and Kindle
Do changes in monetary policy affect inflation and output in the East African Community (EAC)? We find that (i) Monetary Transmission Mechanism (MTM) tends to be generally weak when using standard statistical inferences, but somewhat strong when using non-standard inference methods; (ii) when MTM is present, the precise transmission channels and their importance differ across countries; and (iii) reserve money and the policy rate, two frequently used instruments of monetary policy, sometimes move in directions that exert offsetting expansionary and contractionary effects on inflation—posing challenges to harmonization of monetary policies across the EAC and transition to a future East African Monetary Union. The paper offers some suggestions for strengthening the MTM in the EAC.
Author | : Mr.Andrew Berg |
Publisher | : International Monetary Fund |
Total Pages | : 54 |
Release | : 2013-09-20 |
Genre | : Business & Economics |
ISBN | : 1484351126 |
Download The Monetary Transmission Mechanism in the Tropics Book in PDF, ePub and Kindle
Many central banks in low-income countries in Sub-Saharan Africa are modernising their monetary policy frameworks. Standard statistical procedures have had limited success in identifying the channels of monetary transmission in such countries. Here we take a narrative approach, following Romer and Romer (1989), and center on a significant tightening of monetary policy that took place in 2011 in four members of the East African Community: Kenya, Uganda, Tanzania and Rwanda. We find clear evidence of the transmission mechanism in most of the countries, and argue that deviations can be explained by differences in the policy regime in place.
Author | : Mr.Paulo Drummond |
Publisher | : International Monetary Fund |
Total Pages | : 58 |
Release | : 2015-07-20 |
Genre | : Business & Economics |
ISBN | : 1513562177 |
Download Toward a Monetary Union in the East African Community Book in PDF, ePub and Kindle
This paper examines how susceptible East African Community (EAC) economies are to asymmetric shocks, assesses the value of the exchange rate as a shock absorber for these countries, and reviews adjustment mechanisms that would help ensure a successful experience under a common currency. The report draws on analysis of recent experiences and examines likely future changes in the EAC economies.
Author | : Mr.Paulo Drummond |
Publisher | : International Monetary Fund |
Total Pages | : 308 |
Release | : 2015-01-12 |
Genre | : Business & Economics |
ISBN | : 1498322956 |
Download The Quest for Regional Integration in the East African Community Book in PDF, ePub and Kindle
The countries in the East African Community (EAC) are among the fastest growing economies in sub-Saharan Africa. The EAC countries are making significant progress toward financial integration, including harmonization of supervisory arrangements and practices and the modernization of monetary policy frameworks. This book focuses on regional integration in the EAC and argues that the establishment of a time table for the eliminating the sensitive-products list and establishing a supranational legal framework for resolving trade disputes are important reforms that should foster regional integration.
Author | : Mr.Hamid Reza Davoodi |
Publisher | : International Monetary Fund |
Total Pages | : 59 |
Release | : 2013-02-06 |
Genre | : Business & Economics |
ISBN | : 1475553498 |
Download Monetary Transmission Mechanism in the East African Community Book in PDF, ePub and Kindle
Do changes in monetary policy affect inflation and output in the East African Community (EAC)? We find that (i) Monetary Transmission Mechanism (MTM) tends to be generally weak when using standard statistical inferences, but somewhat strong when using non-standard inference methods; (ii) when MTM is present, the precise transmission channels and their importance differ across countries; and (iii) reserve money and the policy rate, two frequently used instruments of monetary policy, sometimes move in directions that exert offsetting expansionary and contractionary effects on inflation—posing challenges to harmonization of monetary policies across the EAC and transition to a future East African Monetary Union. The paper offers some suggestions for strengthening the MTM in the EAC.
Author | : Thierry Urgue Kame Babilla |
Publisher | : |
Total Pages | : 57 |
Release | : 2016 |
Genre | : |
ISBN | : |
Download Exchange Rate Policies and Monetary Union Effectiveness in the East Africa Community Book in PDF, ePub and Kindle
This paper assesses the effectiveness of East Africa Monetary Union under alternative exchange rate policies. We model four types of exchange rate policies in a two-open economy Dynamic Stochastic General Equilibrium model with financial micro-foundations. Findings reveal that floating exchange rate policy is preeminent for East Africa monetary union effectiveness. Partner states case study demonstrates that, first, wealth effect expansionary features are not driven under pegged exchange rate policy. Second, monetary policy transmission mechanism is ambiguous under target zone exchange rate policy. Third, Fisher effect dampening impact arises under managed floating exchange rate policy and lasts over time.
Author | : Ms.Catherine McAuliffe |
Publisher | : International Monetary Fund |
Total Pages | : 55 |
Release | : 2012-11-14 |
Genre | : Business & Economics |
ISBN | : 1475586310 |
Download The East African Community Book in PDF, ePub and Kindle
The East African Community (EAC) has been among the fastest growing regions in sub-Saharan Africa in the past decade or so. Nonetheless, the recent growth path will not be enough to achieve middle-income status and substantial poverty reduction by the end of the decade—the ambition of most countries in the region. This paper builds on methodologies established in the growth literature to identify a group of countries that achieved growth accelerations and sustained growth to use as benchmarks to evaluate the prospects, and potential constraints, for EAC countries to translate their recent growth upturn into sustained high growth. We find that EAC countries compare favorably to the group of sustained growth countries—macroeconomic and government stability, favorable business climate, and strong institutions—but important differences remain. EAC countries have a smaller share of exports, lower degree of financial deepening, lower levels of domestic savings, higher reliance on donor aid, and limited physical infrastructure and human capital. Policy choices to address some of these shortcomings could make a difference in whether the EAC follows the path of sustained growth or follows other countries where growth upturns later fizzled out.
Author | : Mr.Paulo Drummond |
Publisher | : International Monetary Fund |
Total Pages | : 308 |
Release | : 2015-01-12 |
Genre | : Business & Economics |
ISBN | : 1484364414 |
Download The Quest for Regional Integration in the East African Community Book in PDF, ePub and Kindle
The countries in the East African Community (EAC) are among the fastest growing economies in sub-Saharan Africa. The EAC countries are making significant progress toward financial integration, including harmonization of supervisory arrangements and practices and the modernization of monetary policy frameworks. This book focuses on regional integration in the EAC and argues that the establishment of a time table for the eliminating the sensitive-products list and establishing a supranational legal framework for resolving trade disputes are important reforms that should foster regional integration.
Author | : John M. M. Ssozi |
Publisher | : |
Total Pages | : 196 |
Release | : 2011 |
Genre | : Econometric models |
ISBN | : |
Download Essays on Monetary Policy and Currency Unions Book in PDF, ePub and Kindle
Author | : Emmanuel Ugirashebuja |
Publisher | : BRILL |
Total Pages | : 553 |
Release | : 2017-03-06 |
Genre | : Law |
ISBN | : 9004322078 |
Download East African Community Law Book in PDF, ePub and Kindle
East African Community Law provides a comprehensive and open-access text book on EAC law. Written by leading experts, including the president of the EACJ, national judges, academics and practitioners, it provides the most complete overview to date of this increasingly important field. Uniquely, the book also provides a systematic comparison with EU law. EU companion chapters provide concise overviews of EU law and its development, offering valuable inspiration for the application and further development of EAC law. The book has been written for all practitioners, judges, civil servants, academics and students faced with questions of EAC law. It discusses institutional, substantive and jurisdictional issues, including the nature of EAC law, free movement and competition law as well as the reception of EAC law in Partner States.