Monetary Policy Reaction to COVID-19 and Their Economic Impact in Central America and the Dominican Republic

IF 1.2 Q3 BUSINESS, FINANCE
Jesús Antonio López Cabrera, Enrique González Mata, Juan Quiñonez Wu
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引用次数: 0

Abstract

This study aims to recognize and succinctly evaluate the monetary policy implemented during the COVID-19 pandemic, as well as in the immediate recovery period, and their economic impact in Central America and the Dominican Republic (CARD). To this end, the study carries out a qualitative and quantitative analysis of the monetary policy implemented to reduce the negative economic impact on CARD, during the period 2020–2022. VAR and panel econometric techniques were used for the analysis. The results show that even though the central banks of CARD countries did indeed seek to stimulate economic activity, the effects on aggregate economic activity are very small. Other types of policies, such as fiscal, financial, and regulatory policies, may have contributed to reducing to a greater extent the negative impact of the COVID-19 pandemic on economic activity.JEL Codes: E52, G01, C54
货币政策对 COVID-19 的反应及其对中美洲和多米尼加共和国经济的影响
本研究旨在认识和简明扼要地评估在 COVID-19 大流行期间和刚刚恢复期间实施的货币政策及其对中美洲和多米尼加共和国(CARD)的经济影响。为此,本研究对 2020-2022 年期间为减少对中美洲和多米尼加共和国经济的负面影响而实施的货币政策进行了定性和定量分析。分析采用了 VAR 和面板计量经济学技术。结果表明,尽管 CARD 国家的中央银行确实寻求刺激经济活动,但对总体经济活动的影响非常小。其他类型的政策,如财政、金融和监管政策,可能在更大程度上减少了 COVID-19 大流行对经济活动的负面影响:E52, G01, C54
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来源期刊
CiteScore
1.80
自引率
33.30%
发文量
19
期刊介绍: The Journal of Emerging Market Finance is a forum for debate and discussion on the theory and practice of finance in emerging markets. While the emphasis is on articles that are of practical significance, the journal also covers theoretical and conceptual aspects relating to emerging financial markets. Peer-reviewed, the journal is equally useful to practitioners and to banking and investment companies as to scholars.
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