CEU Electronic Theses and Dissertations, 2012
| Author | Machavariani, Giorgi |
|---|---|
| Title | Transmission Mechanisms of Monetary Policy in Georgia: Evidence from VAR Analysis |
| Summary | The empirical study explores the monetary transmission mechanisms (MTM) in Georgia. The quarterly data are analyzed form 2000Q1 to 2012Q1. The work focuses on the interest rate channel, bank lending channel, and the exchange rate channel. The work mainly discusses how and through which channels the monetary authorities can impact the real economy and the overall prices. The investigation of the MTM finds out that the exchange rate still remains the most powerful and effective channel in Georgian economy. The interest rate channel seems to be undeveloped. The bank lending channel is likely to have insignificant effects on the real economy. The effects of the monetary aggregates are partially supported by the results. |
| Supervisor | Ratfai Attila |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2012/machavariani_giorgi.pdf |
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