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Monetary Policy and Economic Growth in CEMAC: A Panel Data Approach

In: Regional Integration and Policy Challenges in Africa

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  • Simon Yannick Fouda Ekobena

Abstract

Monetary policy was for a long time sidelined because adherents to Keynesian ideas considered it merely complementary to fiscal policy. But monetary policy attracted renewed interest with the failure of Keynesian theory to explain the parallel rise in inflation and unemployment in the late 1960s. Because monetary policy is one of the main instruments of economic policy, it contributes to the achievement of the latter’s objectives. While it is considered to have some effect on the control of inflation, its impact on economic activity remains the subject of lively debate among economists.

Suggested Citation

  • Simon Yannick Fouda Ekobena, 2015. "Monetary Policy and Economic Growth in CEMAC: A Panel Data Approach," Palgrave Macmillan Books, in: Adam B. Elhiraika & Allan C. K. Mukungu & Wanjiku Nyoike (ed.), Regional Integration and Policy Challenges in Africa, chapter 3, pages 69-85, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-46208-4_4
    DOI: 10.1057/9781137462084_4
    as

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