Trade Openness and Monetary Policy in Ghana

被引：3

作者：

Ahiakpor, Ferdinand ^{[1
]}

Cantah, William ^{[1
]}

Brafu-Insaidoo, William ^{[1
]}

Bondzie, Eric ^{[1
]}

机构：

[1] Univ Cape Coast, Sch Econ, Cape Coast, Ghana

来源：

INTERNATIONAL ECONOMIC JOURNAL | 2019年 / 33卷 / 02期

关键词：

Inflation; monetary policy; output; trade openness; F0; 04; INFLATION; GROWTH;

D O I：

10.1080/10168737.2019.1610027

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The study employed a Structural VAR model, using monthly time series data from 2002 to 2017 to assess the relationship between trade openness and effectiveness of monetary policy in Ghana. The empirical results revealed that as the degree of trade openness increases, monetary policy becomes more effective in reducing the rate of inflation. However, monetary policy is less effective to reduce the output gap. Therefore, the results suggest that monetary policy authorities must take into account the level of trade openness whenever they are formulating monetary policy.

引用

页码：332 / 349

页数：18

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