File Name: monetary policy and economic development .zip
This paper examines the impact of monetary policy on the economic development by using annual time series data from The unit root testing result suggests that all variables are stationary at first difference; therefore, the Johansen Cointegration and Error Correction Model has been employed to analyze the association between variables. The finding shows that money supply, interest rate, and inflation rate negatively effect on the real GDP per capita in the long run and only the real exchange rate has a positive sign. The error correction model result indicates the existence of short-run causality between money supply, real exchange rate and real GDP per capita. Alavinasab, S.
Fiscal policy in India: Fiscal policy in India is the guiding force that helps the government decide how much money it should spend to support the economic activity, and how much revenue it must earn from the system, to keep the wheels of the economy running smoothly. In recent times, the importance of fiscal policy has been increasing to achieve economic growth swiftly, both in India and across the world. Attaining rapid economic growth is one of the key goals of fiscal policy formulated by the Government of India. Through the fiscal policy, the government of a country controls the flow of tax revenues and public expenditure to navigate the economy. If the government receives more revenue than it spends, it runs a surplus, while if it spends more than the tax and non-tax receipts, it runs a deficit.
Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers. It is categorized under Indirect Tax and came into existence under the Finance Act, Description: In this case, the service provider pays the tax and recovers it from the customer. Service Tax was earlier levied on a specified list of services, but in th. A nation is a sovereign entity. Any risk arising on chances of a government failing to make debt repayments or not honouring a loan agreement is a sovereign risk.
Role of monetary policy in the economic development of a country are as follows: 1. Appropriate Adjustment between Demand for and Supply of Money, 2. Price Stability, 3. Credit Control, 4. Creation and Expansion of Financial Institutions, 5. Suitable Interest Rate Structure, 6.
Economic development implies an improvement in economic welfare through higher real GDP, but also through an improvement in other economic indicators, such as improved literacy, better infrastructure, reduced poverty and improved healthcare standards. Macroeconomic stability would involve a commitment to low inflation. Low inflation creates a climate where foreign investors have more confidence to invest in that country. High inflation can lead to devaluation of the currency and discourage foreign investment. To create a low inflationary framework, it requires:. A potential problem of macroeconomic stability is that in the pursuit of low inflation, higher interest rates can conflict with lower economic growth — at least in the short term.
Yet, as a starting point, it can perhaps appropriately be defined as sustained increase in per capita output or real national income. In choosing this criterion I do not wish to suggest that the composition of total output and the distribution of real income are irrelevant. Economic development, particularly as a policy objective, cannot be discussed exclusively in terms of quantities and aggregates.
Bio Vita. Learn more about the Econ Lowdown Teacher Portal and watch a tutorial on how to use our online learning resources. We believe the Federal Reserve most effectively serves the public by building a more diverse and inclusive economy. Monetary policy is typically the responsibility of a central bank.
Thank you for the opportunity to speak with you this morning. In recent years, the policy interest rates set by many central banks have been close to, at, or in some cases below, zero. This has led some observers to wonder whether central banks are at all capable of providing further stimulus to economic growth. In addition, recent developments have led to speculation about the possibility of a recession around the bend in the United States and perhaps globally. This has naturally raised questions about what course Fed policy could possibly take in response.
This paper seeks to examine the role of monetary policy as an instrument for growth in the Ghanaian economy.
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Monetary policy is a central bank's actions and communications that manage the money supply. The money supply includes forms of credit, cash, checks, and money market mutual funds. The most important of these forms of money is credit.
PDF | While there are numerous studies on the relationship between monetary policy and economic growth, evaluating the policy nexus.
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PDF | Although monetary policy in Cambodia through its policy instruments is likely to have played an active role in contributing to GDP growth, which | Find.Linesegli1996 27.12.2020 at 15:39
I am delighted at the opportunity to speak at this year's Economics Conference organised by the Oesterreichische Nationalbank.