This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Excès de liquidité systémique et effectivité de la politique monétaire : cas des pays de la CEMAC
[Excess liquidity and monetary policy effectiveness: The case of CEMAC countries]

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
KAMGNA, Severin Yves
Ndambendia, Houdou

Additional information is available for the following registered author(s):

Abstract

The excess of banks liquidity in the CEMAC zone, following the banking restructuring, brought the monetary authorities to undertake a certain number of reforms. The object of this article is, besides the determination of the explanatory factors of the excess of banks liquidity, to appreciate the efficiency of the transmission mechanisms of the monetary policy. It is evident from results of the evaluation that this phenomenon depends strongly on the economic and financial structures of every CEMAC’s country. To the level of the zone, only the credit to the private sector could reduce the liquidity in excess. In the same way, this situation reduces the efficiency of the monetary channel. This inefficiency of the monetary channel explains itself by the weak adjustment of the rate of the inter-bank market following an expansive monetary policy. These results confirms the necessity for the monetary authorities to implement actions aiming to increase the offer of credit to the private sector.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help file. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://mpra.ub.uni-muenchen.de/9599/
File Format:
File Function:
Download Restriction: no

Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 9599.

Download reference. The following formats are available: HTML, plain text, BibTeX, RIS (EndNote), ReDIF
Length:
Date of creation: 30 Jun 2008
Date of revision:
Handle: RePEc:pra:mprapa:9599

Contact details of provider:
Postal: Schackstr. 4, D-80539 Munich, Germany
Phone: +49-(0)89-2180-2219
Fax: +49-(0)89-2180-3900
Web page: http://mpra.ub.uni-muenchen.de
More information through EDIRC

For technical questions regarding this item, or to correct its listing, contact: (Ekkehart Schlicht).

Related research
Keywords: surliquidité politique monétaire réserves bancaires liquidité bancaire stérilisation.

Other versions of this item:

Find related papers by JEL classification:
E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Baltensperger, Ernst, 1974. "The Precautionary Demand for Reserves," American Economic Review, American Economic Association, vol. 64(1), pages 205-10, March.
  2. Ayse Ertugrul & Jerome Hericourt & Julien Reynaud, 2005. "Fonction de reaction et politique monetaire en changes fixes : une nouvelle formulation appliquee a la Turquie," Economie Internationale, CEPII research center, issue 3Q, pages 97-119. [Downloadable!]
  3. Agenor, Pierre-Richard & Aizenman, Joshua & Hoffmaister, Alexander W., 2004. "The credit crunch in East Asia: what can bank excess liquid assets tell us?," Journal of International Money and Finance, Elsevier, vol. 23(1), pages 27-49, February. [Downloadable!] (restricted)
    Other versions:
  4. Abdelaziz Rouabah, 2007. "Mesure de la vulnérabilité du secteur bancaire luxembourgeois," BCL working papers cahier_etude_24, Central Bank of Luxembourg. [Downloadable!]
  5. Poole, William, 1976. "A Proposal for Reforming Bank Reserve Requirements in the United States," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 8(2), pages 137-47, May. [Downloadable!] (restricted)
  6. Paulo Flavio Nacif Drummond, 2007. "Implications of Oil Inflows for Savings and Reserve Management in the CEMAC," IMF Working Papers 07/243, International Monetary Fund. [Downloadable!]
  7. Edward F. Buffie & Christopher Adam & Catherine A. Pattillo & Stephen A. O'Connell, 2007. "Monetary Policy Rules for Managing Aid Surges in Africa," IMF Working Papers 07/180, International Monetary Fund. [Downloadable!]
    Other versions:
  8. Francis Y. Kumah, 2007. "A Markov-Switching Approach to Measuring Exchange Market Pressure," IMF Working Papers 07/242, International Monetary Fund. [Downloadable!]
  9. Miguel A. Kiguel & Alain Ize & Eduardo Levy Yeyati, 2005. "Managing Systemic Liquidity Risk in Financially Dollarized Economies," IMF Working Papers 05/188, International Monetary Fund. [Downloadable!]
  10. Magnus Saxegaard, 2006. "Excess Liquidity and the Effectiveness of Monetary Policy: Evidence from Sub-Saharan Africa," IMF Working Papers 06/115, International Monetary Fund. [Downloadable!]
  11. Gauti B. Eggertsson & Jonathan David Ostry, 2005. "Does Excess Liquidity Pose a Threat in Japan?," IMF Policy Discussion Papers 05/5, International Monetary Fund.
  12. Samer Y. Saab & Jerome Vacher, 2007. "Banking Sector Integration and Competition in CEMAC," IMF Working Papers 07/3, International Monetary Fund. [Downloadable!]
    Other versions:
  13. Fernando Barran & Virginie Coudert & Benoit Mojon, 1994. "Transmission de la politique monetaire et credit bancaire, une application a 5 pays de l'OCDE," Working Papers 1994-03, CEPII research center. [Downloadable!]
Full references

Statistics
Access and download statistics

Did you know? About five million pdf files are downloaded through RePEc every year.

This page was last updated on 2008-11-18.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.