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논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2019.1
- 수록면
- 332 - 349 (18page)
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The study employed a Structural VAR model, using monthly time series data from 2002 to 2017 to assess the relationship between trade openness and effectiveness of monetary policy in Ghana. The empirical results revealed that as the degree of trade openness increases, monetary policy becomes more effective in reducing the rate of inflation. However, monetary policy is less effective to reduce the output gap. Therefore, the results suggest that monetary policy authorities must take into account the level of trade openness whenever they are formulating monetary policy.
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참고문헌 (14)
참고문헌 신청
Gonçalves, C. E. S. / 2008 / Inflation targeting in emerging economies: What do the data say? / Journal of Development Economics 85(1):312~318
Harrison, A. / 1996 / Openness and growth: A time-series, cross-country analysis for developing countries / Journal of Development Economics 48(2):419~447
Hove, S. / 2016 / Terms of trade shocks and inflation targeting in emerging market economies / South African Journal of Economics 84(1):81~108
Karras, G. / 1999 / Openness and the effects of monetary policy / Journal of International Money and Finance 18(1):13~26
Karras, G. / 2001 / Openness to trade and the potency of monetary policy: How strong is the relationship? / Open Economies Review 12(1):61~73
Harrison, A. / 1996 / Openness and growth: A time-series, cross-country analysis for developing countries / Journal of Development Economics 48(2):419~447
Hove, S. / 2016 / Terms of trade shocks and inflation targeting in emerging market economies / South African Journal of Economics 84(1):81~108
Karras, G. / 1999 / Openness and the effects of monetary policy / Journal of International Money and Finance 18(1):13~26
Karras, G. / 2001 / Openness to trade and the potency of monetary policy: How strong is the relationship? / Open Economies Review 12(1):61~73
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