Anism of monetary policy in small developing countries: an application to Trinidad and Tobago

Carlyn. Ramlogan ()
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Carlyn. Ramlogan: University of Otago, New Zealand

Journal of Developing Areas, 2007, vol. 41, issue 1, 79-91

Abstract: Relatively little is known about the transmission mechanism of monetary policy in small developing countries. In such countries financial markets tend to be relatively unsophisticated hence monetary policy is likely to affect the real sector by altering the quantity and availability of credit rather than the price of credit. Using a structural VAR analysis it is found that the credit channel is dominant in Trinidad and Tobago. The findings can assist policy makers in other developing countries in the design and implementation of monetary policy.

Keywords: Transmission mechanism; Monetary Policy; VAR; Trinidad and Tobago. (search for similar items in EconPapers)
JEL-codes: E52 O23 O54 (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:jda:journl:vol.41:year:2007:issue1:pp:79-91

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