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http://ir.mu.ac.ke:8080/jspui/handle/123456789/5551
Title: | Feasibility of the proposed Monetary Union in East African community: Generalized method of moments approach |
Authors: | Kiplangat Siele, Richard |
Keywords: | feasibility monetary union theory of optimum currency area convergence criteria general method of moments |
Issue Date: | 2018 |
Publisher: | Global Journals |
Abstract: | This study examined the suitability of Theory of Optimum Currency as a basis for feasibility of proposed monetary union in East African Community (EAC) countries; Uganda, Burundi, Kenya, Rwanda and Tanzania. The study sought to determine symmetry of; monetary shocks; inflation rates; fiscal deficit, public debt, real Gross Domestic Product (GDP) and degree of openness. Exploratory was used employing panel data covering 2000Q1-2016Q4. Generalized Method of Moments approach was utilized. Results showed convergence in the real exchange rate was statistically significant and negative implying formation of a monetary union reduced combined GDP. Policy makers in EAC countries could concentrate in adapting unfulfilled macroeconomic convergence criteria and strengthening cooperation in monetary policy co-ordinations |
URI: | http://ir.mu.ac.ke:8080/jspui/handle/123456789/5551 |
Appears in Collections: | School of Business and Economics |
Files in This Item:
File | Description | Size | Format | |
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Richard Kiplangat Siele.pdf | 471.88 kB | Adobe PDF | View/Open |
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