Financial Architecture and the Monetary Transmission Mechanism in Tanzania
This paper is the outcome of research collaboration between staff of the Department of Economic Research and Policy at the Bank of Tanzania and the International Growth Centre. Its objective is to develop a systematic approach to the investigation of the effectiveness of monetary transmission in low-income countries that can be applied specifically to the five EAC countries. In the vast majority of low-income countries, financing and political constraints have traditionally impaired the usefulness of fiscal policy as a short-run stabilization device. While fiscal dominance has also impaired the effectiveness of monetary policy, this situation has been changing, as many low-income countries have increased the independence of their central banks. The ability of central banks to carry out this stabilization function, however, depends on the strength and reliability of the links between the policy instruments that they control and aggregate demand – i.e., on the effectiveness of monetary transmission. Unfortunately, this effectiveness cannot be taken for granted. Using Tanzania as a case study, Peter Montiel et al. undertake a systematic exploration of this issue.
|Date of creation:||2012|
|Contact details of provider:|| Postal: Manor Road, Oxford, OX1 3UQ|
Phone: +44-(0)1865 271084
Fax: +44-(0)1865 281447
Web page: http://www.csae.ox.ac.uk/
More information through EDIRC
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.:
- Sm ali Abbas & Yuri v. Sobolev, 2009.
"High And Volatile Treasury Yields In Tanzania: The Role Of Strategic Bidding And Auction Microstructure,"
South African Journal of Economics,
Economic Society of South Africa, vol. 77(2), pages 257-281, 06.
- Yuri V Sobolev & S. M. Ali Abbas, 2008. "High and Volatile Treasury Yields in Tanzania; The Role of Strategic Bidding and Auction Microstructure," IMF Working Papers 08/81, International Monetary Fund.
- Roe, Alan R & Sowa, Nii K, 1997. "From Direct to Indirect Monetary Control in Sub-Saharan Africa," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 6(1), pages 212-264, March.
- Paola Giuliano & Prachi Mishra & Antonio Spilimbergo, 2013. "Democracy and Reforms: Evidence from a New Dataset," American Economic Journal: Macroeconomics, American Economic Association, vol. 5(4), pages 179-204, October.
- Antonio Spilimbergo & Paola Giuliano & Prachi Mishra, 2010. "Democracy and Reforms; Evidence from a New Dataset," IMF Working Papers 10/173, International Monetary Fund.
- Paola Giuliano & Prachi Mishra & Antonio Spilimbergo, 2012. "Democracy and Reforms: Evidence from a New Dataset," NBER Working Papers 18117, National Bureau of Economic Research, Inc.
- Paola Giuliano & Prachi Mishra & Antonio Spilimbergo, 2011. "Democracy and Reforms: Evidence from a New Dataset," CARF F-Series CARF-F-247, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
- Bagliano, Fabio C. & Favero, Carlo A., 1998. "Measuring monetary policy with VAR models: An evaluation," European Economic Review, Elsevier, vol. 42(6), pages 1069-1112, June.
- Fabio C. Bagliano & Carlo A. Favero, "undated". "Measuring Monetary Policy with VAR Models: an Evaluation," Working Papers 132, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Bagliano, Fabio-Cesare & Favero, Carlo A., 1997. "Measuring Monetary Policy with VAR Models: An Evaluation," CEPR Discussion Papers 1743, C.E.P.R. Discussion Papers.