文章基本信息

标题：Interest Rate Reforms And Credit Allocation In Tanzania: An Application Of The ARDL Bounds Testing Approach
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作者：Nicholas M. Odhiambo
期刊名称：International Business & Economics Research Journal
印刷版ISSN：1535-0754
电子版ISSN：2157-9393
出版年度：2010
卷号：9
期号：5
语种：English
出版社：The Clute Institute for Academic Research
摘要：This study attempts to empirically investigate the impact of interest rate reforms on the efficiency of credit allocation in Tanzania, using the recently developed ARDL-Bounds test approach proposed by Pesaran et al. (2001). Contrary to the results obtained in some previous studies, the current study finds a distinct positive relationship between interest rate and investment efficiency in Tanzania. The coefficient of real interest rate in the investment efficiency function is found to be positive and statistically significant, as expected. The study, therefore, concludes that the financial system in Tanzania has had a significant and positive influence on the quality of investment during the study period. It also implies that the current financial liberalisation taking place in Tanzania has succeeded in transferring capital from projects with low returns to projects with high returns. However, this applies only in the short-run.
关键词：Africa;Tanzania;Interest Rate Reforms;Investment Efficiency