Central Bank of Congo: Four Factors Affecting Monetary Policy Effectiveness

Christian Pinshi

Working Papers from HAL

Abstract: Four factors affect the effectiveness of monetary policy, three of which are exogenous, fiscal dominance, dollarization and global risks; one is endogenous, monetary policy framework that integrates strategy, tactics and governance of monetary policy. We show that the factors that undermine the effectiveness of the Central bank of Congo (BCC) are much more exogenous. However, the monetary policy framework needs to be rethought. For a lasting effectiveness of the BCC's monetary policy, it would be necessary to put in place sustainable fiscal discipline, serious de-dollarization measures, and economic growth policies that strengthen resilience.

Keywords: Central Bank; monetary policy framework; fiscal dominance; dollarization; global risks E52; E58; E60; F4 (search for similar items in EconPapers)
Date: 2020-12-19
New Economics Papers: this item is included in nep-mac
Note: View the original document on HAL open archive server: https://hal.science/hal-03083918
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://hal.science/hal-03083918/document (application/pdf)

Related works:
Working Paper: Central Bank of Congo: Four Factors Affecting Monetary Policy Effectiveness (2020)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:hal-03083918

Access Statistics for this paper

More papers in Working Papers from HAL
Bibliographic data for series maintained by CCSD ().