Monetary Policy and Economic Growth in CEMAC: A Panel Data Approach

Simon Yannick Fouda Ekobena

Chapter 3 in Regional Integration and Policy Challenges in Africa, 2015, pp 69-85 from Palgrave Macmillan

Abstract: Abstract Monetary policy was for a long time sidelined because adherents to Keynesian ideas considered it merely complementary to fiscal policy. But monetary policy attracted renewed interest with the failure of Keynesian theory to explain the parallel rise in inflation and unemployment in the late 1960s. Because monetary policy is one of the main instruments of economic policy, it contributes to the achievement of the latter’s objectives. While it is considered to have some effect on the control of inflation, its impact on economic activity remains the subject of lively debate among economists.

Keywords: CEMAC; economic growth; externality; inflation; monetary policy; panel data (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-46208-4_4

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DOI: 10.1057/9781137462084_4

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