dc.contributor.author |
Kiplangat Siele, Richard |
|
dc.date.accessioned |
2021-12-06T08:39:19Z |
|
dc.date.available |
2021-12-06T08:39:19Z |
|
dc.date.issued |
2018 |
|
dc.identifier.uri |
http://ir.mu.ac.ke:8080/jspui/handle/123456789/5551 |
|
dc.description.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 |
en_US |
dc.language.iso |
en |
en_US |
dc.publisher |
Global Journals |
en_US |
dc.subject |
feasibility |
en_US |
dc.subject |
monetary union |
en_US |
dc.subject |
theory of optimum currency area |
en_US |
dc.subject |
convergence criteria |
en_US |
dc.subject |
general method of moments |
en_US |
dc.title |
Feasibility of the proposed Monetary Union in East African community: Generalized method of moments approach |
en_US |
dc.type |
Article |
en_US |