Die Autoren berechnen auf der Grundlage eines Modells die Nachfrage nach Geld im engeren (M1) und im weiteren Sinn (M2) und finden heraus, daß die Zinsentwicklung auf dem informellen Geld- und Kreditmarkt hierfür wichtiger Bestimmungsgrund ist. Während die M1-Geldnachfrage stabil und ein...

"Pursuit of an exchange rate policy that promotes the competitiveness of exports would be greatly facilitated if the policy maker were able to establish the level of misalignment of the exchange rate and thereby try to correct for it. The motivation of this study for Uganda was therefore to...

EXECUTIVE SUMMARY This last review of Benin’s ECF arrangement confirms the improved growth performance during the program. Real GDP growth is expected to reach about 51⁄2 percent in 2014 for the third consecutive year. This performance has closed the gap in per capita GDP growth between...