Alper, C. Emre; Clements, Benedict J.; Hobdari, Niko; … - 2019
This paper reviews the impact of interest rate controls in Kenya, introduced in September 2016. The intent of the … that the law on interest rate controls has had the opposite effect of what was intended. Specifically, it has led to a … financial intermediation. We also show that interest rate caps reduced the signaling effects of monetary policy. These suggest …