Previous page | New search |
The free AfricaBib App for Android is available here
Periodical article | Leiden University catalogue | WorldCat |
Title: | Monetary Policy in Kenya, 1967-1988 |
Authors: | Mwega, F.M. Killick, Tony |
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. |