5 Monetary Policy in Sub-Saharan Africa: Lessons from a Dynamic Stochastic General Equilibrium Model Applied to Mozambique
Author:
Mr. Shanaka J Peiris
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and
Mr. Jean A. P. Clément
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Language:
English
Print Publication Date:
01 May 2008
Keywords:
BOOK; Mozambique; exchange rate; productivity; poverty; income; monetary management; monetary policy rule; CPI-inflation-targeting rule; CPI inflation targeting; monetary policy setting; Inflation; Inflation targeting; Exchange rates; Open market operations; Sub-Saharan Africa

Abstract

Macroeconomic conditions in a number of sub-Saharan African countries have improved markedly in the past decade (IMF, 2005a), providing greater scope for stabilization policies. Higher economic growth rates have been associated with lower inflation rates, healthier public finances, and higher international reserves in a group of countries dubbed “mature stabilizers” (Selassie and others, 2006) or post-stabilization economies. Mozambique is one of these countries.

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Cover Post-Stabilization Economics in Sub-Saharan Africa
Post-Stabilization Economics in Sub-Saharan Africa
Lessons from Mozambique
ISBN:
9781589066779
Publication Date:
01 May 2008
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589066779.071
Pages:
407