| Description |
1 online resource (25 pages) : color illustrations |
| Series |
IMF working paper ; WP/10/194 |
|
IMF working paper ; WP/10/194.
|
| Contents |
Cover Page; Title Page; Copyright Page; Contents; Tables; Figures; 1. Imports from EAC Members as a Fraction of Total Import; 2. Export to EAC Members as a Fraction of Total Export; 1: 2008 Import-Export Volume of EAC Members; A. Financially More Developed Countries; B. Financially Less Developed Countries; 3. USD-GBP Forwards; A. Spot Exchange Rates; 4. EAC Countries: Spot Exchange Rates; B. Forward Exchange Rates; 5. EAC Countries: Forward Exchange Rates; C. Interbank Interest Rates; 6. EAC Counties: Interbank Rates and U.S. Libor Rate; D. Estimation Results |
|
7. EAC Countries: Deviations from the CIP2: Summary Statistics of Average CIP Deviations; 3: Summary Statistics of Absolute CIP Deviations; References; V. Conclusion; IV. Data Description; III. Calculation Method of the Measure; II. Current Foreign Exchange Conditions in the EAC; I. Introduction; Footnote |
| Summary |
This paper seeks to quantify existing financial barriers among East African Community (EAC) member countries based on analysis of each member country's foreign exchange market. The primary contribution of this paper is the generation of an aggregate measure of financial barriers for the three relatively more advanced members (Kenya, Uganda, and Tanzania) using forward foreign exchange and interbank interest rate data. Its empirical results, which are corroborated by other evidence such as the levels of development of the financial markets and restrictions on capital flows, suggest that Kenya is the EAC's most financially open country, followed by Uganda, and then Tanzania. The fact that the three countries exhibit different degrees of financial openness suggests that financial integration in the EAC region has a way to go |
| Bibliography |
Includes bibliographical references |
| Subject |
Foreign exchange -- Africa, East
|
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Capital movements -- Africa, East
|
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Interbank market -- Africa, East
|
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Capital movements
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Foreign exchange
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Interbank market
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Africa, East
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| Form |
Electronic book
|
| Author |
International Monetary Fund. Monetary and Capital Markets Department, issuing body.
|
| ISBN |
1283553708 |
|
9781283553704 |
|
9781455223336 |
|
1455223336 |
|
9781455205240 |
|
1455205249 |
|
