ZIMBABWE CASE STUDY.

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Presentation transcript:

ZIMBABWE CASE STUDY

OUTLINE Structure of the economy Stationarity tests The VAR model Results

1. STRUCTURE OF THE ECONOMY Monetary policy framework -The central bank is not under any monetary policy framework. - The Bank uses moral suasion to influence the financial markets -level of financial deepening improving due to the continued evolution of mobile - banking Implications The economy is highly susceptible to external shocks such as the US/rand exchange rate developmements

2. Tests for stationarity

3.ESTIMATING A VAR ordering of ariables - ry lp lenr lm3 lex Lag determination Testing for stability

4. VAR MODEL COINTEGRATION EQUATION Comment money supply and exchange rate explain GDP performance in Zimbabwe

5a.Impulse response functions

5b.Granger causality tests

5c.Variance decomposition

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