Ackah, Bright (2023) The Relationship Between Policy Rates and Domestic Debt in Ghana. International Journal of Development and Economic Sustainability, 11 (4). pp. 20-32. ISSN 2053-2199 (Print),2053-2202(Online)
![[thumbnail of The Relationship.pdf]](https://tudr.org/style/images/fileicons/text.png)
Text
The Relationship.pdf - Published Version
Restricted to Registered users only
Available under License Creative Commons Attribution Non-commercial No Derivatives.
Download (656kB) | Request a copy
Abstract
The principal purpose of this study is to investigate the relationship between policy rates and domestic debt in Ghana. Utilizing a time series data, the study adopted the Vector Error Correction Model (VECM) for result analysis. Over the long run, domestic debt was found to have a negative impact on monetary policy rate, with the reverse observed for the short run. However, both models yielded statistically insignificant results. Nevertheless, the study revealed a statistically significant relationship between inflation and real GDP with the monetary policy rate in the long run, indicating a positive and negative impact, respectively. In the short run, only inflation was found to be statistically significant. The study's findings and analysis were found to be reliable as there was no evidence of serial correlation or heteroskedasticity in the model. In the end, the study was able to address a crucial gap in the literature on public debt by primarily investigating the influence of domestic debt on monetary policy rate in Ghana.
| Item Type: | Article |
|---|---|
| Subjects: | H Social Sciences > H Social Sciences (General) |
| Depositing User: | Professor Mark T. Owen |
| Date Deposited: | 26 Jul 2023 21:47 |
| Last Modified: | 26 Jul 2023 21:47 |
| URI: | https://tudr.org/id/eprint/2024 |
Actions (login required)
- View Item
CORE (COnnecting REpositories)
CORE (COnnecting REpositories)