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The Transmission Mechanisms for Monetary Policy: The Case of Emerging Countries

Author

Listed:
  • Saoussen Ouhibi

    (University of Sfax, Tunisia.)

  • Sami Hammami

    (University of Sfax, Tunisia.)

Abstract

Purpose: This paper analyses the monetary policy transmission in the experience of four emerging countries (Chili, Russia, Mexico and Turkey).Methodology: The paper uses the vector autoregressive model (VAR). Findings: The result of the empirical study is that exchange rate channel is effective for the monetary policy transmission mechanism in Turkey. In Russia, Chile and Mexico this channel is low. Recommendations: The interest rate channel is particularly limited in all countries.

Suggested Citation

  • Saoussen Ouhibi & Sami Hammami, 2015. "The Transmission Mechanisms for Monetary Policy: The Case of Emerging Countries," International Journal of Economics and Empirical Research (IJEER), The Economics and Social Development Organization (TESDO), vol. 3(12), pages 568-576, December.
    • Handle: RePEc:ijr:journl:v:3:y:2015:i:12:p:568-576
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    References listed on IDEAS

    as
    1. Efrem Castelnuovo & Paolo Surico, 2005. "The Price Puzzle: Fact or Artefact?," Macroeconomics 0505015, University Library of Munich, Germany, revised 19 Jul 2005.
    2. Peter Montiel & Christopher Adam & Wilfred Mbowe & Stephen O’Connell, 2012. "Financial Architecture and the Monetary Transmission Mechanism in Tanzania," CSAE Working Paper Series 2012-03, Centre for the Study of African Economies, University of Oxford.
    3. Ms. Era Dabla-Norris & Mr. Holger Floerkemeier, 2006. "Transmission Mechanisms of Monetary Policy in Armenia: Evidence from VAR Analysis," IMF Working Papers 2006/248, International Monetary Fund.
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