This paper seeks to inform about a feature of monetary policy that is largely overlooked, yet occupies a central role in modern monetary and financial systems, namely central bank collateral frameworks. Their importance can be understood by the observation that the money at the core of these...

Whereas most of the literature related to the so-called 'resource curse' tends to emphasize on institutional factors and public policies, in this research we focus on the role of the financial sector, which has been surprisingly overlooked. We find that countries that have financial systems with...

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...