Lost in Transmission?

Lost in Transmission?

The Effectiveness of Monetary Policy Transmission Channels in the GCC Countries

eBook - 2012
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"This paper empirically investigates the effectiveness of monetary policy transmission in the Gulf Cooperation Council (GCC) countries using a structural vector autoregressive model. The results indicate that the interest rate and bank lending channels are relatively effective in influencing non-hydrocarbon output and consumer prices, while the exchange rate channel does not appear to play an important role as a monetary transmission mechanism because of the pegged exchange rate regimes. The empirical analysis suggests that policy measures and structural reforms - strengthening financial intermediation and facilitating the development of liquid domestic capital markets - would advance the effectiveness of monetary transmission mechanisms in the GCC countries"--Page [1].
Publisher: [Washington, D.C.] : International Monetary Fund, Ă2012
ISBN: 9781475599589
1475599587
9781475505399
9781475522181
Characteristics: 1 online resource (34 pages) : color charts
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