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Monetary policy transmission: Does the credit channel perform in Cameroon?

Author

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  • Jean Louis EKOMANE

    (Advanced School of Economics and Commerce (ESSEC), University of Douala, Po. Box 1931, Cameroon.)

Abstract

This article evaluates the monetary policy transmission through the credit channel in a macroeconomic GDP targeting approach with evidence in Cameroon. We use a macroeconomic approach based on the time series method. On data from the 1960-2012 period, statistical tests reveal the existence of successive causality between macroeconomic variables of the credit channel, confirming the existence of this channel in Cameroon. The Autoregresive vectors modeling (VAR) analysis then reveals a delay of two years in the GDP reaction from the monetary impulses, and that the credit channel is narrow with a low rate in Cameroon, a central African Developing country.

Suggested Citation

  • Jean Louis EKOMANE, 2017. "Monetary policy transmission: Does the credit channel perform in Cameroon?," Turkish Economic Review, EconSciences Journals, vol. 4(4), pages 369-377, December.
    • Handle: RePEc:cvv:journ2:v:4:y:2017:i:4:p:369-377
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    Keywords

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    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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