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Monetary Policy Channels in Developing Economies: Theory & Evidence: Exchange Rate Dominance, Productivity Effects, and Institutional Evolution in Pakistan's Transformation, 1960-2007 - Softcover

Hussain, Karrar

 
9786209435454: Monetary Policy Channels in Developing Economies: Theory & Evidence: Exchange Rate Dominance, Productivity Effects, and Institutional Evolution in Pakistan's Transformation, 1960-2007
Softcover
ISBN 10: 6209435459 ISBN 13: 9786209435454
Verlag: LAP LAMBERT Academic Publishing, 2026

Inhaltsangabe

This monograph examines Pakistan's monetary policy transformation from 1960 to 2007, analyzing the evolution from administrative controls to market-oriented frameworks through Vector Autoregression methodologies and institutional analysis. Three findings emerge. First, the exchange rate channel dominated monetary transmission, reflecting structural import dependence and shallow financial markets rather than conventional money supply mechanisms. Second, inflation significantly reduces labor productivity with 15-month lags, demonstrating monetary policy affects long-term growth beyond stabilization. Third, institutional development—central bank independence, financial liberalization, capacity building—proves essential for effectiveness. The research contributes methodological innovations while offering practical lessons: transformation requires patient institution building over decades; complementary fiscal and structural policies enhance effectiveness; political commitment must survive transitions; exchange rate management remains critical when constraints limit alternatives. Pakistan's experience demonstrates achievements through reform and persistent challenges for other nations.

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Über die Autorin bzw. den Autor

Dr. Karrar Hussain is an Associate Professor of Economics at the American University in Bulgaria and a fellow at CERP and IGC. His research spans behavioral and development economics. He earned his Ph.D. from USC and has held positions at FAU Germany, LUMS Pakistan, Harvard University, and UC San Diego.

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Verlag
LAP LAMBERT Academic Publishing
Erscheinungsdatum
2026
Sprache
Englisch
ISBN 10 
6209435459
ISBN 13 
9786209435454
Einband
Taschenbuch
Anzahl der Seiten
160
Kontakt zum Hersteller
preigu GmbH & Co. KG
mail@preigu.de

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