Investigating the Transmission Mechanism of Monetary Policy in Egypt

ISBN-13: 9783659249112 / Angielski / Miękka / 2012 / 276 str.

Hossam E. M. Abdelkader

Opis

This book investigates the transmission mechanism from monetary policy to macroeconomy in Egypt between the War of 1973 and the Revolution of 2011. To achieve this, five empirical studies are included in this book, the first and second were consumer's expenditure and investment expenditure under uncertainty. Furthermore, the results of these two chapters paved the way to the next chapters, interest rate channel, bank lending channel, and exchange rate channel under the regime shift. Additionally, Chapter 2 provides all the required discussion about the economic policies and developments in the Egyptian economy for the purpose of this study. The results of empirical part shows that the interest rate affects real GDP through consumption channel, while both bank lending and exchange rate affect real income through investment channel. Different econometric techniques are used to confirm these results, like: Engle-Ganger two-step model, Pesaran bounds tests, GARCH, VAR, Granger-causality, IRF, variance decomposition, Johansen's cointegration, and VECM.

O autorze

Hossam Eldin Mohammed Abdelkader Ahmed, PhD (Economics) at University of Birmingham, MSc (Economics) at University of Southampton, and MSc (Economics) at Ain Shams University. Assistant Professor of Economics at Ain Shams University (Cairo, Egypt), and a member of the Egyptian Society of Political Economy, Statistics and Legislation (Egypt).