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Interest Rate Spreads in English-Speaking African Countries
Crowley, Joe - International Monetary Fund (IMF) - 2007
associated with lower inflation, a greater number of banks, and greater public ownership of banks. Higher deposit interest rates …
Persistent link: https://www.econbiz.de/10005264076
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Prudential Liquidity Regulation in Developing Countries; A Case Study of Rwanda
International Monetary Fund (IMF); International … - 2012
This paper analyses the prudential liquidity management framework, in particular the quantitative indicators employed by the central bank of Rwanda in response to the domestic liquidity crisis in 2008/09. It emphasises that the quantitative methods used in the monitoring and assessment of...
Persistent link: https://www.econbiz.de/10009650624
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Treasury Bills and/Or Central Bank Bills for Absorbing Surplus Liquidity; The Main Considerations
Nyawata, Obert - International Monetary Fund (IMF) - 2012
This paper discusses the challenging question of whether central banks should use treasury bills or central bank bills for draining excess liquidity in the banking system. While recognizing that there are practical reasons for using central bank bills, the paper argues that treasury bills are...
Persistent link: https://www.econbiz.de/10009654145
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Excess Liquidity and the Effectiveness of Monetary Policy; Evidence From Sub-Saharan Africa
Saxegaard, Magnus - International Monetary Fund (IMF) - 2006
This paper examines the pattern of excess liquidity in sub-Saharan Africa and its consequences for the effectiveness of monetary policy. The paper argues that understanding the consequences of excess liquidity requires quantifying the extent to which commercial bank holdings of excess liquidity...
Persistent link: https://www.econbiz.de/10005826003
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Challenges to Monetary Policy From Financial Globalization; The Case of India
Prasad, A.; Kramer, Charles Frederick; Poirson, Hélène - International Monetary Fund (IMF) - 2008
The question of how India should adapt monetary policy to ongoing financial globalization has gained prominence with the recent surge in capital inflows. This paper documents the degree to which India has become financially globalized, both in absolute terms and relative to emerging and...
Persistent link: https://www.econbiz.de/10005826246
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Systemic Liquidity Management in the U.A.E.; Issues and Options
Chailloux, Alexandre; Hakura, Dalia - International Monetary Fund (IMF) - 2009
The paper analyzes the U.A.E.'s liquidity management framework in the context of the 2008 global financial crisis and the measures taken by the Central Bank of the U.A.E. to ease liquidity pressures in the second half of 2008. Drawing also on an empirical analysis of data for 15 U.A.E. banks...
Persistent link: https://www.econbiz.de/10008497608
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Understanding Inflation Inertia in angola
Kyei, Alexander; Klein, Nir - International Monetary Fund (IMF) - 2009
In recent years, the decline in inflation in Angola has stalled and further steps may be needed to attain the … digit inflation rate. A Vector Error Correction (VEC) model, which analyzes the factors that affect the inflationary process … in Angola, suggests that the inflation path has been largely affected by exchange rate movements. This implies that …
Persistent link: https://www.econbiz.de/10004999957
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Monetary Transmission in Low Income Countries
Montiel, Peter; Spilimbergo, Antonio; Mishra, Prachi - International Monetary Fund (IMF) - 2010
This paper reviews monetary transmission mechanisms in low-income countries (LICs) to identify aspects of the channels that may operate differently in LICs relative to advanced and emerging economies. Given the weak institutional frameworks, reduced role of securities markets, imperfect...
Persistent link: https://www.econbiz.de/10008671304
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A Macro Model of the Credit Channel in a Currency Union Member; The Case of Benin
Samaké, Issouf - International Monetary Fund (IMF) - 2010
This paper applies and extends a theoretical model built by Agénor and Montiel (2007) by exploring the effectiveness of government bonds and monetary policy in a small, open, credit-based economy with a fixed exchange rate. The model is applied to Benin, a member of a currency union, using a...
Persistent link: https://www.econbiz.de/10008671313
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Assessing the Determinants of Interest Rate Transmission Through Conditional Impulse Response Functions
Saborowski, Christian; Weber, Sebastian - International Monetary Fund (IMF) - 2013
between 2003 and 2008, mainly due to positive risk sentiment, rising inflation and increasingly diversified banking sectors … proliferated and inflation moderated. …
Persistent link: https://www.econbiz.de/10011123851