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Economic and Financial Review

Authors

Biodun Adedipe

Publisher

Central Bank of Nigeria, Research Department

Keywords

Monetary policy transmission, Exchange rate regime, Emerging market economies, Capital flows, Capital control, Interest rates, Mundel-Fleming model

Abstract

This paper proceeds in four sections as follows: section 1 is the introduction, section 2 gives a cursory summary of the literature on the 'trilemma-dilemma' that tend more towards the relevance of capital controls as an independent instrument in monetary policy irrespective of the exchange rate regime, while section 3 examines the evidence and effectiveness of the management of the process and relationships in emerging market economies (EME). Section 4 examines a country experience, while section 5 draws inferences for Nigeria and section 6 concludes with recommendations.

Issue

52

Volume

4

Recommended Citation

Adedipe, B. (2014). Exchange rates, capital flows and monetary policy: lessons from emerging market economies. CBN Economic and Financial Review. 52(4), 181-199.

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