Correcting inflation with financial dynamic fundamentals: which adjustments matter in Africa?
作者： Simplice A. Asongu
DOI: 10.1080/15228916.2014.881231
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摘要: This paper assesses the adjustment of inflation with financial dynamic fundamentals money (financial depth), credit activity) and efficiency. Three main findings are established. (1) There significant long-run relationships between fundamentals. (2) The error correction mechanism is stable in all specifications but case any disequilibrium, only depth adjusting to relationship. (3) In long-run, short-term adjustments ability banks transform into do not matter correcting inflation. most probably due surplus liquidity issues. Policy implications discussed.
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