Monetary policy and economic growth: The case study of Zanzibar
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Date
2015
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Publisher
Mzumbe University
Abstract
The role of monetary policy and economic growth in Zanzibar is not clear and there is dearth information pertaining with the impact of monetary policy on Zanzibar economic growth. The purpose of the study was therefore to investigate the impacts of the monetary policy instruments and economic growth of Zanzibar. The study focused on identifying the contribution of monetary policy in Zanzibar economic growth, determine the relationship between monetary policy instruments and economic growth, identify challenges encountered during the implementation of monetary policy objectives and also the study tested the null hypothesis which is „ the monetary policy instrument significantly influences the economic growth of Zanzibar‟. The study investigated the impact of monetary policy in Zanzibar economic growth on selected macroeconomic variables between 2000 and 2013. Both empirical and theoretical techniques used to investigate the impacts of monetary policy instruments and economic growth of Zanzibar and concluded that according to questionnaires returned from the respondents the result showed that not only there is great impacts and contribution of monetary policy instruments and economic growth of Zanzibar but also accepted the null hypothesis which is „monetary policy instruments significantly influence the economic growth of Zanzibar’. However, on the other hand, from the empirical evidence we conclude that there is a little impact and contribution of monetary policy instruments and economic growth of Zanzibar and also rejected the null hypothesis of the study. The study also described the different challenges that affect the monetary policy authority in implementation of their activities and suggest the ways of solving that challenges in order to solve those challenges as the result may contribute a lot in Zanzibar economic activities for poverty reduction and sustainable development
Description
A dissertation submitted to Mzumbe University as a partial/ fulfilment of the requirements for award of the Degree of Master of Science in Accounting and Finance (Msc A&F) of Mzumbe University
Keywords
Economic Growith, Monetary policy in Zanzibar, Impact of Monetary policy-Zanzibar, Evolution and Governing of Monetary Policy in Tanzania:
Citation
APA