Financial sector reforms and monetary policy in Zambia:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Abschlussarbeit Buch |
| Sprache: | English |
| Veröffentlicht: |
Göteborg
Dep. of Economics, School of Economics and Commercial Law, Göteborg Univ.
2004
|
| Schriftenreihe: | Economic studies
133 |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | VI, 163 S. graph. Darst. |
| ISBN: | 9188514927 |
Internformat
MARC
| LEADER | 00000nam a2200000 cb4500 | ||
|---|---|---|---|
| 001 | BV017888244 | ||
| 003 | DE-604 | ||
| 005 | 20050419 | ||
| 007 | t | ||
| 008 | 040226s2004 d||| m||| 00||| eng d | ||
| 020 | |a 9188514927 |9 91-88514-92-7 | ||
| 035 | |a (OCoLC)314530501 | ||
| 035 | |a (DE-599)BVBBV017888244 | ||
| 040 | |a DE-604 |b ger |e rakwb | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-19 |a DE-703 |a DE-188 | ||
| 084 | |a QK 900 |0 (DE-625)141685: |2 rvk | ||
| 100 | 1 | |a Simatele, Munacinga |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Financial sector reforms and monetary policy in Zambia |c Munacinga Simatele |
| 264 | 1 | |a Göteborg |b Dep. of Economics, School of Economics and Commercial Law, Göteborg Univ. |c 2004 | |
| 300 | |a VI, 163 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 1 | |a Economic studies |v 133 | |
| 502 | |a Zugl.: Göteborg, Univ., Diss., 2003 | ||
| 650 | 0 | 7 | |a Transmissionsmechanismus |0 (DE-588)4117242-5 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Währungspolitik |0 (DE-588)4064152-1 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Geldpolitik |0 (DE-588)4019902-2 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Finanzreform |0 (DE-588)4017209-0 |2 gnd |9 rswk-swf |
| 651 | 7 | |a Sambia |0 (DE-588)4076986-0 |2 gnd |9 rswk-swf | |
| 655 | 7 | |0 (DE-588)4113937-9 |a Hochschulschrift |2 gnd-content | |
| 689 | 0 | 0 | |a Sambia |0 (DE-588)4076986-0 |D g |
| 689 | 0 | 1 | |a Geldpolitik |0 (DE-588)4019902-2 |D s |
| 689 | 0 | 2 | |a Finanzreform |0 (DE-588)4017209-0 |D s |
| 689 | 0 | |5 DE-604 | |
| 689 | 1 | 0 | |a Sambia |0 (DE-588)4076986-0 |D g |
| 689 | 1 | 1 | |a Geldpolitik |0 (DE-588)4019902-2 |D s |
| 689 | 1 | 2 | |a Transmissionsmechanismus |0 (DE-588)4117242-5 |D s |
| 689 | 1 | |5 DE-188 | |
| 689 | 2 | 0 | |a Sambia |0 (DE-588)4076986-0 |D g |
| 689 | 2 | 1 | |a Währungspolitik |0 (DE-588)4064152-1 |D s |
| 689 | 2 | |5 DE-188 | |
| 830 | 0 | |a Economic studies |v 133 |w (DE-604)BV017643044 |9 133 | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=010728988&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-010728988 | ||
Datensatz im Suchindex
| _version_ | 1804130553805406208 |
|---|---|
| adam_text | CONTENTS
1. Financial Sector Reforms and Monetary Policy In Zambia 1
1.1 Introduction 3
1.2 Theoretical Foundations For Financial Reforms 3
1.2.1 Financial Reforms 3
1.2.2 Monetary Reforms 8
1.3 Summary and Conclusions 22
2. Monetary Policy Reforms and the Transmission Mechanism in Zambia 25
2.1 Introduction 27
2.2 Literature Review 28
2.2.1 Theoretical Review 28
2.2.2 Mechanisms in Developing Countries 31
2.2.3 Empirical Review 32
2.3 Monetary Policy Implementation 36
2.4 Methodology 40
2.5 Data 46
2.5.1 GDP 46
2.5.2 Price Level 46
2.5.3 Monetary Aggregates 48
2.5.4 Liquid Asset Ratios 49
2.5.5 Nominal Exchange Rate 51
2.5.6 Interest Rates 52
2.6 Estimation Results 53
2.6.1 Forecast Error Variance Decompositions 55
2.6.2 Response Functions 58
2.6.3 Effect of the Reforms 61
2.7 Summary and Conclusion 68
2.8 Appendix A:Impulse Response Functions 71
2.9 Appendix B: Sources Of Data Variable 76
3. Can Money Tell Us About Inflation? Evaluating the Information Con¬
tent of Money For Predicting Inflation in Zambia 77
3.1 Introduction 79
3.2 Monetary Developments and Inflation After the Reforms 80
3.3 Conceptual Framework 83
3.3.1 Interest Rates 85
3.3.2 Exchange Rates 86
3.4 Review Of Literature 87
3.4.1 Methodological Issues 87
3.4.2 Empirical Review 88
3.5 Empirical Methodology 91
3.5.1 Auto Regressive Analysis 92
3.5.2 Single Equation Estimation 93
3.5.3 Data 96
3.6 Estimation Results 101
3.6.1 Forecasting 102
3.6.2 Inflation Equation 107
3.7 Does Money Tell Us Anything About Inflation In Zambia? . ... Ill
3.8 Summary and Conclusion 115
4. Foreign Exchange Intervention and the Exchange Rate In Zambia . . . 126
4.1 Introduction 128
4.2 Theory Of Intervention 129
4.2.1 Sterilised Intervention 130
4.3 Foreign Exchange Intervention in Zambia 132
iii
4.4 Methodology 136
4.4.1 Data 138
4.5 Estimation and Results 143
4.5.1 Is Intervention Sterilised? 143
4.5.2 Does Intervention Affect the Exchange Rates? 146
4.6 Summary and Conclusion 152
iv
LIST OF FIGURES
1.1 Inflation and Interest Rates 1970 1983 13
1.2 Inflation And Interest Rates (1984 2001) 18
2.1 Real GDP Pre and Post Reform 47
2.2 Consumer Price Index and Inflation 48
2.3 Monthly Growth in Monetary Aggregates 49
2.4 Actual and Required Asset Ratios 50
2.5 The Nominal Exchange Rate 51
2.6 Interest Rates 52
2.7 Commercial Bank Loans 53
2.8 Pre reform mechanism one 60
2.9 Post reform mechanism one 61
2.10 Pre reform Mechanism One 71
2.11 Pre reform Mechanism Two 72
2.12 Pre reform Mechanism Three 72
2.13 Pre reform Mechanism Four 73
2.14 Post reform Mechanism One 73
2.15 Post reform Mechanism One b 74
2.16 Post reform Mechanism two 74
2.17 Post reform Mechanism Two b 75
2.18 Post reform Mechanism Three 75
2.19 Post reform Mechanism Four 76
3.1 Annual CPI Inflation 83
3.2 Prices and Output 98
3.3 Monetary Aggregates 98
3.4 Interest Rates 99
3.5 Foreign Prices and Exchange Rates 100
3.6 Domestic Debt 101
3.7 12 Month Moving MAPES 105
3.8 Cumulative MAPEs 105
3.9 Deposit Credit Ratio 112
3.10 Price Level Correlation Function 117
3.11 12 Month and Cumulative MAPEs 118
3.12 Recursive Diagnostics Dollar Rate 124
3.13 Recursive Diagnostics Rand Rate 124
4.1 Weekly Intervention and the Exchange Rate 136
4.2 Monthly Series in Logs 141
4.3 Growth in the Monthly Series 142
vi
LIST OF TABLES
1.1 Targets and Realisations for Money and Inflation 22
1.2 Selected Economic Indicators (1970 2001) 24
2.1 Output and Price Variance Decompositions Pre Reform Period . 56
2.2 Output and Price Variance Decompositions Post Reform Period 57
2.3 Sources of Data 76
3.1 % Growth in Broad Money and Its Components 82
3.2 Target and Actual Inflation rate (1994 2001) 82
3.3 Unit Root Tests 97
3.4 Mean Absolute Percentage Errors (1998 2001) 103
3.5 Error Correction Model of Inflation With M2 1994:1 To 2001:12 . 110
3.6 Cointergrating Relationship for M2 119
3.7 Co integrating Relationship for The Rand Exchange Rate .... 120
3.8 Co integrating Relationship for the Dollar Exchange Rate .... 121
3.9 Sources Of Data 125
4.1 Descriptive Statistics Monthly Series 140
4.2 Descriptive Statistics Weekly Series 143
4.3 OLS Regression of Base Money 145
4.4 OLS Regression of the Exchange Rate 147
4.5 GARCH Estimation of the Exchange Rate 149
|
| any_adam_object | 1 |
| author | Simatele, Munacinga |
| author_facet | Simatele, Munacinga |
| author_role | aut |
| author_sort | Simatele, Munacinga |
| author_variant | m s ms |
| building | Verbundindex |
| bvnumber | BV017888244 |
| classification_rvk | QK 900 |
| ctrlnum | (OCoLC)314530501 (DE-599)BVBBV017888244 |
| discipline | Wirtschaftswissenschaften |
| format | Thesis Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>02116nam a2200517 cb4500</leader><controlfield tag="001">BV017888244</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20050419 </controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">040226s2004 d||| m||| 00||| eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">9188514927</subfield><subfield code="9">91-88514-92-7</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)314530501</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV017888244</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rakwb</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-19</subfield><subfield code="a">DE-703</subfield><subfield code="a">DE-188</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QK 900</subfield><subfield code="0">(DE-625)141685:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Simatele, Munacinga</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Financial sector reforms and monetary policy in Zambia</subfield><subfield code="c">Munacinga Simatele</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Göteborg</subfield><subfield code="b">Dep. of Economics, School of Economics and Commercial Law, Göteborg Univ.</subfield><subfield code="c">2004</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">VI, 163 S.</subfield><subfield code="b">graph. Darst.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="1" ind2=" "><subfield code="a">Economic studies</subfield><subfield code="v">133</subfield></datafield><datafield tag="502" ind1=" " ind2=" "><subfield code="a">Zugl.: Göteborg, Univ., Diss., 2003</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Transmissionsmechanismus</subfield><subfield code="0">(DE-588)4117242-5</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Währungspolitik</subfield><subfield code="0">(DE-588)4064152-1</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Geldpolitik</subfield><subfield code="0">(DE-588)4019902-2</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Finanzreform</subfield><subfield code="0">(DE-588)4017209-0</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="651" ind1=" " ind2="7"><subfield code="a">Sambia</subfield><subfield code="0">(DE-588)4076986-0</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="655" ind1=" " ind2="7"><subfield code="0">(DE-588)4113937-9</subfield><subfield code="a">Hochschulschrift</subfield><subfield code="2">gnd-content</subfield></datafield><datafield tag="689" ind1="0" ind2="0"><subfield code="a">Sambia</subfield><subfield code="0">(DE-588)4076986-0</subfield><subfield code="D">g</subfield></datafield><datafield tag="689" ind1="0" ind2="1"><subfield code="a">Geldpolitik</subfield><subfield code="0">(DE-588)4019902-2</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2="2"><subfield code="a">Finanzreform</subfield><subfield code="0">(DE-588)4017209-0</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2=" "><subfield code="5">DE-604</subfield></datafield><datafield tag="689" ind1="1" ind2="0"><subfield code="a">Sambia</subfield><subfield code="0">(DE-588)4076986-0</subfield><subfield code="D">g</subfield></datafield><datafield tag="689" ind1="1" ind2="1"><subfield code="a">Geldpolitik</subfield><subfield code="0">(DE-588)4019902-2</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="1" ind2="2"><subfield code="a">Transmissionsmechanismus</subfield><subfield code="0">(DE-588)4117242-5</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="1" ind2=" "><subfield code="5">DE-188</subfield></datafield><datafield tag="689" ind1="2" ind2="0"><subfield code="a">Sambia</subfield><subfield code="0">(DE-588)4076986-0</subfield><subfield code="D">g</subfield></datafield><datafield tag="689" ind1="2" ind2="1"><subfield code="a">Währungspolitik</subfield><subfield code="0">(DE-588)4064152-1</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="2" ind2=" "><subfield code="5">DE-188</subfield></datafield><datafield tag="830" ind1=" " ind2="0"><subfield code="a">Economic studies</subfield><subfield code="v">133</subfield><subfield code="w">(DE-604)BV017643044</subfield><subfield code="9">133</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">HBZ Datenaustausch</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=010728988&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-010728988</subfield></datafield></record></collection> |
| genre | (DE-588)4113937-9 Hochschulschrift gnd-content |
| genre_facet | Hochschulschrift |
| geographic | Sambia (DE-588)4076986-0 gnd |
| geographic_facet | Sambia |
| id | DE-604.BV017888244 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T19:22:52Z |
| institution | BVB |
| isbn | 9188514927 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-010728988 |
| oclc_num | 314530501 |
| open_access_boolean | |
| owner | DE-19 DE-BY-UBM DE-703 DE-188 |
| owner_facet | DE-19 DE-BY-UBM DE-703 DE-188 |
| physical | VI, 163 S. graph. Darst. |
| publishDate | 2004 |
| publishDateSearch | 2004 |
| publishDateSort | 2004 |
| publisher | Dep. of Economics, School of Economics and Commercial Law, Göteborg Univ. |
| record_format | marc |
| series | Economic studies |
| series2 | Economic studies |
| spelling | Simatele, Munacinga Verfasser aut Financial sector reforms and monetary policy in Zambia Munacinga Simatele Göteborg Dep. of Economics, School of Economics and Commercial Law, Göteborg Univ. 2004 VI, 163 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Economic studies 133 Zugl.: Göteborg, Univ., Diss., 2003 Transmissionsmechanismus (DE-588)4117242-5 gnd rswk-swf Währungspolitik (DE-588)4064152-1 gnd rswk-swf Geldpolitik (DE-588)4019902-2 gnd rswk-swf Finanzreform (DE-588)4017209-0 gnd rswk-swf Sambia (DE-588)4076986-0 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Sambia (DE-588)4076986-0 g Geldpolitik (DE-588)4019902-2 s Finanzreform (DE-588)4017209-0 s DE-604 Transmissionsmechanismus (DE-588)4117242-5 s DE-188 Währungspolitik (DE-588)4064152-1 s Economic studies 133 (DE-604)BV017643044 133 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=010728988&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Simatele, Munacinga Financial sector reforms and monetary policy in Zambia Economic studies Transmissionsmechanismus (DE-588)4117242-5 gnd Währungspolitik (DE-588)4064152-1 gnd Geldpolitik (DE-588)4019902-2 gnd Finanzreform (DE-588)4017209-0 gnd |
| subject_GND | (DE-588)4117242-5 (DE-588)4064152-1 (DE-588)4019902-2 (DE-588)4017209-0 (DE-588)4076986-0 (DE-588)4113937-9 |
| title | Financial sector reforms and monetary policy in Zambia |
| title_auth | Financial sector reforms and monetary policy in Zambia |
| title_exact_search | Financial sector reforms and monetary policy in Zambia |
| title_full | Financial sector reforms and monetary policy in Zambia Munacinga Simatele |
| title_fullStr | Financial sector reforms and monetary policy in Zambia Munacinga Simatele |
| title_full_unstemmed | Financial sector reforms and monetary policy in Zambia Munacinga Simatele |
| title_short | Financial sector reforms and monetary policy in Zambia |
| title_sort | financial sector reforms and monetary policy in zambia |
| topic | Transmissionsmechanismus (DE-588)4117242-5 gnd Währungspolitik (DE-588)4064152-1 gnd Geldpolitik (DE-588)4019902-2 gnd Finanzreform (DE-588)4017209-0 gnd |
| topic_facet | Transmissionsmechanismus Währungspolitik Geldpolitik Finanzreform Sambia Hochschulschrift |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=010728988&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| volume_link | (DE-604)BV017643044 |
| work_keys_str_mv | AT simatelemunacinga financialsectorreformsandmonetarypolicyinzambia |