{"title":"东非货币政策传导机制:坦桑尼亚、肯尼亚和乌干达的比较研究","authors":"Hamza A. Mkai, Jehovaness Aikaeli","doi":"10.56279/ter.v10i1.54","DOIUrl":null,"url":null,"abstract":"This study makes a comparative analysis of the channels and effectiveness of the transmission mechanisms of monetary policy in three East African countries. The study applies time series data that is analysed using a Recursive Vector Autoregressive technique. The results suggest that exchange rate is the dominant monetary policy transmission channel in Tanzania and Uganda; and the bank credit channel is found to be the most dominant mechanism in Kenya. Further, the results suggest the existence of good potential for targeting inflation or interest rate rather than monetary aggregates, especially for Tanzania and Kenya, since Uganda has already embarked on inflation targeting lite, and is currently faring well. \nJEL Classification: E31, E37","PeriodicalId":91807,"journal":{"name":"Tanzanian economic review","volume":"38 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2020-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Monetary Policy Transmission Mechanism in East Africa: A Comparative Study of Tanzania, Kenya And Uganda\",\"authors\":\"Hamza A. Mkai, Jehovaness Aikaeli\",\"doi\":\"10.56279/ter.v10i1.54\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This study makes a comparative analysis of the channels and effectiveness of the transmission mechanisms of monetary policy in three East African countries. The study applies time series data that is analysed using a Recursive Vector Autoregressive technique. The results suggest that exchange rate is the dominant monetary policy transmission channel in Tanzania and Uganda; and the bank credit channel is found to be the most dominant mechanism in Kenya. Further, the results suggest the existence of good potential for targeting inflation or interest rate rather than monetary aggregates, especially for Tanzania and Kenya, since Uganda has already embarked on inflation targeting lite, and is currently faring well. \\nJEL Classification: E31, E37\",\"PeriodicalId\":91807,\"journal\":{\"name\":\"Tanzanian economic review\",\"volume\":\"38 1\",\"pages\":\"\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2020-06-30\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Tanzanian economic review\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.56279/ter.v10i1.54\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Tanzanian economic review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.56279/ter.v10i1.54","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Monetary Policy Transmission Mechanism in East Africa: A Comparative Study of Tanzania, Kenya And Uganda
This study makes a comparative analysis of the channels and effectiveness of the transmission mechanisms of monetary policy in three East African countries. The study applies time series data that is analysed using a Recursive Vector Autoregressive technique. The results suggest that exchange rate is the dominant monetary policy transmission channel in Tanzania and Uganda; and the bank credit channel is found to be the most dominant mechanism in Kenya. Further, the results suggest the existence of good potential for targeting inflation or interest rate rather than monetary aggregates, especially for Tanzania and Kenya, since Uganda has already embarked on inflation targeting lite, and is currently faring well.
JEL Classification: E31, E37
求助内容：
应助结果提醒方式：
京公网安备 11010802042870号
