Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan
Vol 24, No 2 (2023): JEP 2023

Monetary Policy Credibility and Economic Growth: A Comparative Analysis of COMESA and ECOWAS Countries

Jean Baptiste Aboyitungiye (Banque de la Republique du Burundi)
Moses Mathu (Central Bank of Kenya)



Article Info

Publish Date
31 Dec 2023

Abstract

The study aims to highlight the effect of the credibility of monetary policy on economic growth concerning the COMESA compared with the ECOWAS economies. Those groups of countries are reached throughout the monetary policy credibility measurement to get an insight into whether the monetary policy is at the origin of the economic growth level of the country. The dynamic panel data consists of 5 years, from 2015 to 2020, for 11 countries of COMESA and ECOWAS. The findings from the two-system-GMM approach show a significant positive effect of the monetary policy credibility on economic growth in the COMESA region. On the other hand, the monetary policy credibility has an insignificant impact on the economic growth in the ECOWAS region. The findings lead us to recommend to the policymakers of central banks to ensure that they choose the appropriate monetary policy to return to growth, full employment and price stability.

Copyrights © 2023






Journal Info

Abbrev

JEP

Publisher

Subject

Economics, Econometrics & Finance

Description

Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan is a scientific journal that contains the results of theoretical research and studies on economic and development issues. Managed by Department of Development Economics, Faculty of Economics and Business Universitas Muhammadiyah ...