Monetary Policy in Unified Currency Areas : The Cases of the Cama and Ecca During 1976-90 /
The paper compares the performance of monetary policy in the Central African Monetary Area (CAMA) and the Eastern Caribbean Currency Area (ECCA) during 1976-90. Their institutional setup and mechanism for monetary control are examined to explain the opposite trends in the net external position of th...
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| Định dạng: | Tạp chí |
| Ngôn ngữ: | English |
| Được phát hành: |
Washington, D.C. :
International Monetary Fund,
1994.
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| Loạt: | IMF Working Papers; Working Paper ;
No. 1994/011 |
| Truy cập trực tuyến: | Full text available on IMF |
| Tóm tắt: | The paper compares the performance of monetary policy in the Central African Monetary Area (CAMA) and the Eastern Caribbean Currency Area (ECCA) during 1976-90. Their institutional setup and mechanism for monetary control are examined to explain the opposite trends in the net external position of their banking system during this period. It concludes that monetary policy in the ECCA succeeded by relying on active interest rate management aimed at stemming capital outflows and adhering to stringent rules aimed at limiting credit expansion. The passive policy stance in the CAMA contributed to a significant redistribution of the area's money stock. |
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| Mô tả sách: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Mô tả vật lý: | 1 online resource (48 pages) |
| Định dạng: | Mode of access: Internet |
| số ISSN: | 1018-5941 |
| Truy cập: | Electronic access restricted to authorized BRAC University faculty, staff and students |