Monetary policy in Kenya, 1967-88
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Date
1990Author
Killick, Tony
Mwega, F. M.
Type
Working PaperLanguage
enMetadata
Show full item recordAbstract
ODI Working Papers present in preliminary form work resulting from research
undertaken under the auspices of the Institute. Views expressed are those of the
authors and do not necessarily reflect the views of ODI. Comments are welcomed
and should be addressed directly to the author.
This Working Paper is one of seven country studies prepared as part of a study of the
role of monetary policy in primary product-dependent, low-income countries. The
objective of the general study is to examine what monetary policy can be expected to
accomplish and what are the principal constraints upon its effectiveness. The country
studies examine the development of monetary institutions, the determination of money
supply and demand, and the objectives and experience of governments in implementing
monetary policy in individual countries. Other case studies include China, C6te
d'lvoire, Bangladesh and Indonesia. It is hoped that the final report will be published
in 1991. The project is directed at ODI by Sheila Page. We are grateful for
financial support from the Overseas Development Administration, The Rockefeller
Foundation and the International Development Research Centre of Canada.
This Working Paper draws upon the data base and econometric analyses presented in
the companion Working Paper No. 42 (forthcoming) by F.M. Mwega, 'An Econometric
Study of Selected Monetary Policy Issues in Kenya'. Only the results are reported
here, however, and readers requiring more information are referred to the companion
paper.
The authors are respectively Senior Research Fellow, ODI, and Lecturer in Economics,
University of Nairobi. We would like to express our great gratitude to all those in the
public and private sectors who gave so freely of their time to discuss with us the issues
which are the concern of this Working Paper and whose guidance greatly enriched our
understanding of Kenya's monetary policies. We are also much indebted to Edward
Nyongesa for his statistical help, and to Mohsin Khan, Chris Lane, Sheila Page, Terry
Ryan and others who commented most helpfully on an earlier draft. Naturally, the
authors alone are responsible for the views expressed here.
Publisher
Overseas Developement Institute School of Economics, University of Nairobi
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