Monetary policy transmission mechanism in Samoa
In recent years, Samoa has emerged to be the most successful economy amongst all Pacific island countries. Its achievements of low inflation and high growth rates were due to sustained fiscal adjustment and appropriate monetary policy measures. This paper undertakes an empirical study of transmi...
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| Main Authors: | , |
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
2007
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| Subjects: | |
| Online Access: | http://repo.uum.edu.my/2565/1/T._K.Jayaraman_1.pdf http://repo.uum.edu.my/2565/ |
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| Summary: | In recent years, Samoa has emerged to be the most successful economy
amongst all Pacific island countries. Its achievements of low inflation and
high growth rates were due to sustained fiscal adjustment and appropriate
monetary policy measures. This paper undertakes an empirical study of
transmission mechanism of monetary policy by adopting a VAR approach and
using quarterly data over a 17-year period (1990-2006). The study findings are
that money and exchange rate channels are important channels in transmitting
monetary impulses to Samoa’s real sector, followed by credit and interest rate channels. |
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