Spillover effects of ECB's and FED's monetary policies on the developing countries in Africa

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dc.contributor Aalto-yliopisto fi
dc.contributor Aalto University en
dc.contributor.author Pikkarainen, Ville
dc.date.accessioned 2017-06-15T07:44:05Z
dc.date.available 2017-06-15T07:44:05Z
dc.date.issued 2016
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/26860
dc.description.abstract This paper studies the spillover effects by estimating the long term effects and short run spillovers of FED's and ECB's monetary policies on African countries using the error correction model. The countries in the sample include Ghana, Kenya, Madagascar, Malawi, Mauritius, Mozambique, South Africa and Tanzania, all of which have a floating currency and relatively free capital movements. The main finding of the estimations suggests that along with inflation, foreign policy rates play a role when determining the local policy rate. The estimations also support that, for the counties in the sample, the monetary policy of ECB has stronger impact on the policy rate than that of FED in most of the cases. en
dc.format.extent 56
dc.language.iso en en
dc.title Spillover effects of ECB's and FED's monetary policies on the developing countries in Africa en
dc.type G2 Pro gradu, diplomityö fi
dc.contributor.school Kauppakorkeakoulu fi
dc.contributor.school School of Business en
dc.contributor.department Taloustieteen laitos fi
dc.contributor.department Department of Economics en
dc.subject.keyword spillover effects
dc.subject.keyword economics
dc.subject.keyword development economics
dc.subject.keyword international trade
dc.subject.keyword kansainvälinen kauppa
dc.subject.keyword Africa
dc.subject.keyword monetary policy
dc.subject.keyword taylor rule
dc.identifier.urn URN:NBN:fi:aalto-201801181123
dc.type.dcmitype text en
dc.programme.major Kansantaloustiede fi
dc.programme.major Economics en
dc.type.ontasot Pro gradu tutkielma fi
dc.type.ontasot Master's thesis en
dc.subject.helecon kansantaloustiede
dc.subject.helecon kehitysmaat
dc.subject.helecon Afrikka
dc.subject.helecon rahapolitiikka
dc.ethesisid 14765
dc.date.dateaccepted 2016-08-24
dc.location P1 I

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