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dc.contributor.authorWere, Adelquinn Ochami
dc.date.accessioned2016-04-06T09:01:41Z
dc.date.available2016-04-06T09:01:41Z
dc.date.issued2014-04
dc.identifier.urihttp://hdl.handle.net/11071/4393
dc.descriptionA Research Project submitted in Partial fulfillment for the Award of Bachelor of Business Science Financial Economicsen_US
dc.description.abstractThe interest rate channel is commonly used by the Central Bank of Kenya as a means of maintaining price stability. However, the effectiveness of this channel has come into question. This paper tests the responsiveness of this channel as well as the structural factors that influence the effectiveness of the channel in Kenya. It uses a wide range of macroeconomic and financial market structure variables to uncover structural determinants of pass-through. The paper finds that the market to retail pass through rate is weak; hence, monetary is not an effective tool in controlling price stability in Kenya. The paper also establishes that the GDP growth rate is insignificant in explaining long-term pass through in Kenya. However, money market development, liquidity, cost structure and competition among banks were found to facilitate and strengthen the pass-through while inflation impedes it.en_US
dc.language.isoenen_US
dc.publisherStrathmore Universityen_US
dc.subjectMonetary policyen_US
dc.subjectDeveloping countriesen_US
dc.subjectEmpirical studyen_US
dc.subjectKenyaen_US
dc.titleThe responsiveness of monetary policy in developing countries - an empirical study of Kenyaen_US
dc.typeOtheren_US


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