CENTRAL BANK INDEPENDENCY ON THE DEVELOPMENT OF THE FINANCIAL SECTOR. A CASE OF RESERVE BANK OF ZIMBABWE (1998-2008)
The study looks deeper in the relationship between central bank independence and Gross Domestic product growth and other economic variables which are indicative of improved performance with specific reference to a developing economy. It seeks to find out how the central bank policies affected the st...
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| Format: | Article |
| Language: | English |
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University of Petrosani
2010-01-01
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| Series: | Annals of the University of Petrosani: Economics |
| Subjects: | |
| Online Access: | http://www.upet.ro/anale/economie/pdf/20100327.pdf |
| _version_ | 1811262585689866240 |
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| author | KOSMAS NJANIKE |
| author_facet | KOSMAS NJANIKE |
| author_sort | KOSMAS NJANIKE |
| collection | DOAJ |
| description | The study looks deeper in the relationship between central bank independence and Gross Domestic product growth and other economic variables which are indicative of improved performance with specific reference to a developing economy. It seeks to find out how the central bank policies affected the state of development of the financial sector and the extent to which the banking sector influenced economic development in the economy. The research also aims to find out how the government affected or influenced the state of development of the financial sector in the country. It was found that the government was sorely dependent on central bank financing as a matter of survival due to limited sources of finance as GDP decline meant a reduction tax revenue base. Rising inflation and contracting real incomes put pressure on the fiscal budget. Questionnaires, interviews and document review were used to obtain information for the study. It was concluded that the cohesion between fiscal and monetary policy is of paramount importance; and there was need for a high degree of formal instrument independence. |
| first_indexed | 2024-04-12T19:29:29Z |
| format | Article |
| id | doaj.art-23d28b44cfbb4429be6fd56c065f9f7e |
| institution | Directory Open Access Journal |
| issn | 1582-5949 |
| language | English |
| last_indexed | 2024-04-12T19:29:29Z |
| publishDate | 2010-01-01 |
| publisher | University of Petrosani |
| record_format | Article |
| series | Annals of the University of Petrosani: Economics |
| spelling | doaj.art-23d28b44cfbb4429be6fd56c065f9f7e2022-12-22T03:19:23ZengUniversity of PetrosaniAnnals of the University of Petrosani: Economics1582-59492010-01-01X3251264CENTRAL BANK INDEPENDENCY ON THE DEVELOPMENT OF THE FINANCIAL SECTOR. A CASE OF RESERVE BANK OF ZIMBABWE (1998-2008)KOSMAS NJANIKEThe study looks deeper in the relationship between central bank independence and Gross Domestic product growth and other economic variables which are indicative of improved performance with specific reference to a developing economy. It seeks to find out how the central bank policies affected the state of development of the financial sector and the extent to which the banking sector influenced economic development in the economy. The research also aims to find out how the government affected or influenced the state of development of the financial sector in the country. It was found that the government was sorely dependent on central bank financing as a matter of survival due to limited sources of finance as GDP decline meant a reduction tax revenue base. Rising inflation and contracting real incomes put pressure on the fiscal budget. Questionnaires, interviews and document review were used to obtain information for the study. It was concluded that the cohesion between fiscal and monetary policy is of paramount importance; and there was need for a high degree of formal instrument independence.http://www.upet.ro/anale/economie/pdf/20100327.pdfCentral Bank IndependenceReserve Bank of Zimbabwe |
| spellingShingle | KOSMAS NJANIKE CENTRAL BANK INDEPENDENCY ON THE DEVELOPMENT OF THE FINANCIAL SECTOR. A CASE OF RESERVE BANK OF ZIMBABWE (1998-2008) Annals of the University of Petrosani: Economics Central Bank Independence Reserve Bank of Zimbabwe |
| title | CENTRAL BANK INDEPENDENCY ON THE DEVELOPMENT OF THE FINANCIAL SECTOR. A CASE OF RESERVE BANK OF ZIMBABWE (1998-2008) |
| title_full | CENTRAL BANK INDEPENDENCY ON THE DEVELOPMENT OF THE FINANCIAL SECTOR. A CASE OF RESERVE BANK OF ZIMBABWE (1998-2008) |
| title_fullStr | CENTRAL BANK INDEPENDENCY ON THE DEVELOPMENT OF THE FINANCIAL SECTOR. A CASE OF RESERVE BANK OF ZIMBABWE (1998-2008) |
| title_full_unstemmed | CENTRAL BANK INDEPENDENCY ON THE DEVELOPMENT OF THE FINANCIAL SECTOR. A CASE OF RESERVE BANK OF ZIMBABWE (1998-2008) |
| title_short | CENTRAL BANK INDEPENDENCY ON THE DEVELOPMENT OF THE FINANCIAL SECTOR. A CASE OF RESERVE BANK OF ZIMBABWE (1998-2008) |
| title_sort | central bank independency on the development of the financial sector a case of reserve bank of zimbabwe 1998 2008 |
| topic | Central Bank Independence Reserve Bank of Zimbabwe |
| url | http://www.upet.ro/anale/economie/pdf/20100327.pdf |
| work_keys_str_mv | AT kosmasnjanike centralbankindependencyonthedevelopmentofthefinancialsectoracaseofreservebankofzimbabwe19982008 |