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180603s2013 xx |||||o 00| ||eng c |
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|a 10.1016/j.jpolmod.2013.06.001
|2 doi
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|a (ELSEVIER)S0161-8938(13)00071-9
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|a Mengesha, Lula G.
|e verfasserin
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|a Monetary policy and its transmission mechanisms in Eritrea
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|c 2013transfer abstract
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|a The main purpose of this study is to identify the best practices of monetary policy implementation in the Eritrean economy. As such, the paper examines what kind of monetary policy and transmission mechanisms are relevant to the Eritrean economy. It also addresses which channels are effective and which are not and why. Vector Autoregressive modelling is employed over the study period 1996Q1–2008Q4. This paper addresses the argument that the bank lending is the sole functioning channel in low income economies. We find that interest rate and official exchange rate channels are inoperative. However, effective exchange rate and credit channels exist through the black foreign exchange market and credit issued to the government sector. The main policy implication of this study is that the Bank of Eritrea might be able to control inflation through manipulating the reserve requirement ratio.
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|a The main purpose of this study is to identify the best practices of monetary policy implementation in the Eritrean economy. As such, the paper examines what kind of monetary policy and transmission mechanisms are relevant to the Eritrean economy. It also addresses which channels are effective and which are not and why. Vector Autoregressive modelling is employed over the study period 1996Q1–2008Q4. This paper addresses the argument that the bank lending is the sole functioning channel in low income economies. We find that interest rate and official exchange rate channels are inoperative. However, effective exchange rate and credit channels exist through the black foreign exchange market and credit issued to the government sector. The main policy implication of this study is that the Bank of Eritrea might be able to control inflation through manipulating the reserve requirement ratio.
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|a E5
|2 Elsevier
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|a Holmes, Mark J.
|4 oth
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| 773 |
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|i Enthalten in
|n Elsevier
|a Lupberger, J. ELSEVIER
|t 369 EGFR SIGNALING IMPAIRS THE ANTIVIRAL ACTIVITY OF INTERFERON-ALPHA
|d 2013
|d JPMOD : a social science forum of world issues
|g Amsterdam [u.a.]
|w (DE-627)ELV016667247
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| 773 |
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|g volume:35
|g year:2013
|g number:5
|g pages:766-780
|g extent:15
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|u https://doi.org/10.1016/j.jpolmod.2013.06.001
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