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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Monetary policy in Rwanda: a cointegration analysis
Authors:Sayinzoga, AüssiISNI
Simson, Richard
Year:2006
Periodical:South African Journal of Economics
Volume:74
Issue:1
Pages:65-78
Language:English
Geographic term:Rwanda
Subject:monetary policy
External link:https://onlinelibrary.wiley.com/doi/10.1111/j.1813-6982.2006.00049.x/pdf
Abstract:Countries in Africa are increasingly becoming similar in outlook, especially as regards monetary policy. With a view to conducting a long-term study of monetary policy in Africa, the authors apply an empirical test for the coherence of inflation targeting, first conducted by Kevin S. Nell (2003) for South Africa, to data from Rwanda. They find that like South Africa, Rwanda has a stable money demand function and the adoption of an inflation target is a wise policy option. Also, the Rwandan money market needs just over five quarters to eliminate half of any monetary disequilibrium. These results are of some interest to economists and policymakers for all the countries in the increasingly interconnected continent of Africa. Bibliogr., sum. [Journal abstract]
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