Ebook Download Measuring and Mending Monetary Policy Effectiveness Under Capital Account Restrictions

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Measuring and Mending Monetary Policy Effectiveness Under Capital Account Restrictions High quality books

Measuring and Mending Monetary Policy Effectiveness Under Capital Account Restrictions
By:Mr. Robert Blotevogel
Published on 2013-03-27 by International Monetary Fund

I propose a new approach to identifying exogenous monetary policy shocks in low-income countries with capital account restrictions. In the case of Mauritania, a domestic repatriation requirement is the key institutional characteristic that allows me to establish exogeneity. Unlike in advanced countries, I find no evidence for a statistically significant impact of exogenous monetary policy shocks on bank lending. Using a unique bank-level dataset on monthly balance sheets of six Mauritanian banks over the period 2006–11, I estimate structural vector autoregressions and two-stage least square panel models to demonstrate the ineffectiveness of monetary policy. Finally, I discuss how a reduction in banks’ loan concentration ratios and improvements in the liquidity management framework could make monetary stimuli more effective.

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Book ID of Measuring and Mending Monetary Policy Effectiveness Under Capital Account Restrictions's Books is DI-groE6vUwC, Book which was written byMr. Robert Blotevogelhave ETAG "E2KcwDxj58Q"

Book which was published by International Monetary Fund since 2013-03-27 have ISBNs, ISBN 13 Code is 9781484332856 and ISBN 10 Code is 1484332857

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