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Monetary Transmission in Developing Countries
Ms.Prachi MishraMr.Peter MontielRajeswari Sengupta
其他書名
Evidence from India
出版International Monetary Fund, 2016-08-08
主題Business & Economics / Banks & BankingBusiness & Economics / Money & Monetary PolicyBusiness & Economics / Foreign Exchange
ISBN14755239639781475523966
URLhttp://books.google.com.hk/books?id=MJkYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋We examine the strength of monetary transmission in India, using a conventional structural VAR methodology. We find that a tightening of monetary policy is associated with a significant increase in bank lending rates and conventional effects on the exchange rate, though pass-through to lending rates is only partial and exchange rate effects are weak. We could find no significant effects on real output or the inflation rate. Though the message for the effectiveness of monetary transmission in India is therefore mixed, our results for India are more favorable than is often found for other developing countries.