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The link between financial development and monetary policy has received considerable attention in many African countries but empirical evidence on the link has been mixed. By the use of the Autoregressive Distributed Lag (ARDL) approach, this study investigated whether financial development...
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This theoretical model analyzes the impact of interbank credit market dynamics on the resilience of the financial system. Based on a stochastic model of interbank market credit flows, lending in the interbank market is restricted by the availability of liquidity. Following a shock...
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