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Expanding Decent Employment in Kenya: The Role of Monetary Policy, Inflation Control, and the Exchange Rate

  • Robert Pollin

    ()

    (Univ. of Massachusetts)

  • James Heintz

    ()

    (Univ. of Massachusetts)

Registered author(s):

    This IPC Country Study by Robert Pollin and James Heintz examines three policy areas related to monetary policies in Kenya: inflation dynamics and the relationship between inflation and long-run growth; monetary policy targets and instruments; and exchange rate dynamics and the country?s external balance. It concludes with five main policy recommendations

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    File URL: http://www.ipc-undp.org/pub/IPCCountryStudy6.pdf
    File Function: First version, 2007
    Download Restriction: no

    Paper provided by International Policy Centre for Inclusive Growth in its series Country Study with number 6.

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    Length: 53
    Date of creation: Mar 2007
    Date of revision:
    Publication status: Published by UNDP - International Poverty Centre, March 2007, pages 1-53
    Handle: RePEc:ipc:cstudy:6
    Contact details of provider: Web page: http://www.ipc-undp.org
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    1. Roberto Frenkel & Lance Taylor, 2006. "Real Exchange Rate, Monetary Policy and Employment," Working Papers 19, United Nations, Department of Economics and Social Affairs.
    2. Carmen M. Reinhart & Ioannis Tokatlidis, 2003. "Financial Liberalisation: The African Experience," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 12(Supplemen), pages 53-88, September.
    3. Martín Rama, 2001. "The Consequences of Doubling the Minimum Wage: The Case of Indonesia," ILR Review, Cornell University, ILR School, vol. 54(4), pages 864-881, July.
    4. By Mohsin S. Khan & Abdelhak S. Senhadji, 2001. "Threshold Effects in the Relationship Between Inflation and Growth," IMF Staff Papers, Palgrave Macmillan, vol. 48(1), pages 1.
    5. Paulo Gala & Claudio R. Lucinda, 2006. "Exchange Rate Misalignment And Growth: Old And New Econometric Evidence," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 93, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
    6. Richard C.K. Burdekin & Arthur T. Denzau & Manfred W. Keil & Thitithep Sitthiyot & Thomas D. Willett, . "When Does Inflation Hurt Economic Growth? Different Nonlinearities for Different Economies," Claremont Colleges Working Papers 2000-22, Claremont Colleges.
    7. Damiano Kulundu Manda & Kunal Sen, 2004. "The labour market effects of globalization in Kenya," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(1), pages 29-43.
    8. Rudiger Dornbusch & Stanley Fischer, 1991. "Moderate Inflation," NBER Working Papers 3896, National Bureau of Economic Research, Inc.
    9. Michael Bruno & William Easterly, 1995. "Inflation Crises and Long-Run Growth," NBER Working Papers 5209, National Bureau of Economic Research, Inc.
    10. Edwards, Sebastian, 1989. "Exchange Rate Misalignment in Developing Countries," World Bank Research Observer, World Bank Group, vol. 4(1), pages 3-21, January.
    11. Easterly, William, 2001. "The Lost Decades: Developing Countries' Stagnation in Spite of Policy Reform 1980-1998," Journal of Economic Growth, Springer, vol. 6(2), pages 135-57, June.
    12. Sebastian Edwards, 2001. "Exchange Rate Regimes, Capital Flows and Crisis Prevention," NBER Working Papers 8529, National Bureau of Economic Research, Inc.
    13. Menzie D. Chinn, 2005. "A Primer on Real Effective Exchange Rates: Determinants, Overvaluation, Trade Flows and Competitive Devaluation," NBER Working Papers 11521, National Bureau of Economic Research, Inc.
    14. Njuguna Ndung’u, 2000. "The Exchange Rate and Monetary Policy in Kenya," African Development Review, African Development Bank, vol. 12(1), pages 24-51.
    15. Ghura, Dhaneshwar & Grennes, Thomas J., 1993. "The real exchange rate and macroeconomic performance in Sub-Saharan Africa," Journal of Development Economics, Elsevier, vol. 42(1), pages 155-174, October.
    16. Rose Ngugi, 2000. "Financial Reform Process in Kenya: 1989–96," African Development Review, African Development Bank, vol. 12(1), pages 52-77.
    17. Cottani, Joaquin A & Cavallo, Domingo F & Khan, M Shahbaz, 1990. "Real Exchange Rate Behavior and Economic Performance in LDCs," Economic Development and Cultural Change, University of Chicago Press, vol. 39(1), pages 61-76, October.
    18. Robert Pollin & Andong Zhu, 2006. "Inflation and economic growth: a cross-country nonlinear analysis," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 28(4), pages 593-614, July.
    19. Njuguna S. Ndung'U & Rose W. Ngugi, 1999. "Adjustment and liberalization in Kenya: the financial and foreign exchange markets," Journal of International Development, John Wiley & Sons, Ltd., vol. 11(3), pages 465-491.
    20. Atish Ghosh & Steven Phillips, 1998. "Warning: Inflation May Be Harmful to Your Growth," IMF Staff Papers, Palgrave Macmillan, vol. 45(4), pages 672-710, December.
    21. Robert Pollin & Mark Schaberg, 1998. "Asset Exchanges, Financial Market Trading, and the M1 Income Velocity Puzzle," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 21(1), pages 135-162, October.
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