MONETARY POLICY IN RWANDA: A COINTEGRATION ANALYSIS
MONETARY POLICY IN RWANDA: A COINTEGRATION ANALYSIS
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卢旺达货币政策：协整分析
DOI：
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发表时间：
2006
期刊：
影响因子：
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通讯作者：
Richard Simson
中科院分区：
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作者：
A. Sayinzoga;Richard Simson
非洲国家的前景越来越相似，特别是在货币政策方面。为了对非洲的货币政策进行长期研究，我们对卢旺达的数据进行了Nell（2003）首次对南非进行的通货膨胀目标一致性的实证检验。我们发现，像南非，卢旺达有一个稳定的货币需求函数，采用通货膨胀目标是一个明智的政策选择。此外，卢旺达货币市场只需要五个多季度就可以消除一半的货币失衡。这些结果对日益相互联系的非洲大陆所有国家的经济学家和决策者都有一定的意义。版权所有（C）2006作者。期刊汇编（c）2006年南非经济学会。
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, we apply an empirical test for the coherence of inflation targeting, first conducted by Nell (2003 ) for South Africa, to data from Rwanda. We 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 policy makers for all the countries in the increasingly interconnected continent of Africa. Copyright (c) 2006 The Authors. Journal compilation (c) 2006 Economic Society of South Africa.