How does a central bank react to changes in government borrowing? Evidence from Africa

David Fielding

doi:10.1016/S0304-3878(99)00024-3

How does a central bank react to changes in government borrowing? Evidence from Africa

David Fielding^*

^*Corresponding author for this work

Global Development Institute

Research output: Contribution to journal › Commentary/debate › peer-review

Abstract

We analyze central bank monetary policy in an economy where the government has control over the amount it borrows from the central bank (so the latter is not 'independent' in the traditional sense). Data from three different African countries are used to illustrate three different types of policy response to variations in government borrowing, and the consequences of these differences are outlined.

Original language	English
Pages (from-to)	531-552
Number of pages	22
Journal	Journal of Development Economics
Volume	59
Issue number	2
DOIs	https://doi.org/10.1016/S0304-3878(99)00024-3
Publication status	Published - Aug 1999

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This output contributes to the following UN Sustainable Development Goals (SDGs)

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Keywords

central bank policy
inflation
money creation

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10.1016/S0304-3878(99)00024-3

Cite this

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abstract = "We analyze central bank monetary policy in an economy where the government has control over the amount it borrows from the central bank (so the latter is not 'independent' in the traditional sense). Data from three different African countries are used to illustrate three different types of policy response to variations in government borrowing, and the consequences of these differences are outlined.",

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KW - money creation

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How does a central bank react to changes in government borrowing? Evidence from Africa

Abstract

UN SDGs

Keywords

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