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dc.contributor.authorSchnabl, Guntheren
dc.contributor.authorSchobert, Franziskaen
dc.date.accessioned2011-05-26T09:59:49Z-
dc.date.available2011-05-26T09:59:49Z-
dc.date.issued2007-
dc.identifier.urihttp://hdl.handle.net/10419/45652-
dc.description.abstractThe paper analyses the monetary policy operations of central banks in the Middle East and North Africa (MENA). We distinguish the pattern of monetary policy operations of the liquidity providing central banks of the large industrialized countries (creditor central banks) and the liquidity absorbing central banks of emerging market economies (debtor central banks). Many debtor central banks provide liquidity through foreign exchange intervention in reaction to foreign exchange inflows. If the respective liquidity expansion is regarded as a threat to domestic price and financial stability, liquidity is partly absorbed through sterilization operations. The paper finds that most MENA countries are debtor central banks due to a general pattern of excessive liquidity creation as well as due to country specific reasons.en
dc.language.isoengen
dc.publisher|aUniversität Leipzig, Wirtschaftswissenschaftliche Fakultät |cLeipzigen
dc.relation.ispartofseries|aWorking Paper |x65en
dc.subject.jelF31en
dc.subject.ddc330en
dc.subject.keywordEmerging Marketsen
dc.subject.keywordDebtor Central Banksen
dc.subject.keywordForeign Exchange Inflowsen
dc.subject.keywordSterilizationen
dc.titleMonetary policy operations of debtor central banks in MENA countries-
dc.typeWorking Paperen
dc.identifier.ppn659559048en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:leiwps:65en

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