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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Monetary Policy in Kenya, 1967-1988
Authors:Mwega, F.M.ISNI
Killick, TonyISNI
Year:1990
Periodical:Eastern Africa Economic Review
Volume:6
Issue:2
Pages:117-142
Language:English
Notes:biblio. refs., ills.
Geographic terms:Kenya
East Africa
Subjects:monetary policy
Politics and Government
Economics and Trade
History and Exploration
Economics, Commerce
economic history
Macroeconomics
Abstract:This paper explores the potential and effectiveness of monetary policy in Kenya. The main part presents the results of research into various aspects of monetary policy in Kenya in the 1970s and 1980s. Among the chief results are the fact (1) that monetary variables have an important influence on the economy; (2) that it is difficult for the authorities to manipulate either the high-powered money base or domestic credit; (3) that the budget deficit dominates monetary changes; (4) that credit to the public sector crowds out the private sector; and (5) that the credit of nonbank institutions is a substitute for bank credit. The paper concludes by considering how monetary policy might be strengthened in the future. Bibliogr., notes, ref.
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