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Understanding Interest Rates Structure In Kenya
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Book Synopsis Understanding Interest Rates Structure in Kenya by : Rose Ngugi
Download or read book Understanding Interest Rates Structure in Kenya written by Rose Ngugi and published by . This book was released on 2004 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1451821034 Total Pages :125 pages Book Rating :4.4/5 (518 download)
Book Synopsis Kenya by : International Monetary Fund
Download or read book Kenya written by International Monetary Fund and published by International Monetary Fund. This book was released on 1995-12-15 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews economic developments in Kenya during 1990–95. Real GDP growth decelerated from 4.3 percent in 1990 to close to zero in 1992/93. Inflation accelerated from 12 percent in the 12-month period ended December 1989 to 34 percent in March 1993. The central government’s budget deficit increased from 6.7 percent in 1989/90 to 11.4 percent of GDP in 1992/93. Broad money growth (M2) accelerated from 21 percent in the 12-month period ended December 1991 to 36 percent in March 1993.
Book Synopsis Determinants of Commercial Bank Interest Margins and Profitability by : Asl? Demirgüç-Kunt
Download or read book Determinants of Commercial Bank Interest Margins and Profitability written by Asl? Demirgüç-Kunt and published by World Bank Publications. This book was released on 1998 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: March 1998 Differences in interest margins reflect differences in bank characteristics, macroeconomic conditions, existing financial structure and taxation, regulation, and other institutional factors. Using bank data for 80 countries for 1988-95, Demirgüç-Kunt and Huizinga show that differences in interest margins and bank profitability reflect various determinants: * Bank characteristics. * Macroeconomic conditions. * Explicit and implicit bank taxes. * Regulation of deposit insurance. * General financial structure. * Several underlying legal and institutional indicators. Controlling for differences in bank activity, leverage, and the macroeconomic environment, they find (among other things) that: * Banks in countries with a more competitive banking sector-where banking assets constitute a larger share of GDP-have smaller margins and are less profitable. The bank concentration ratio also affects bank profitability; larger banks tend to have higher margins. * Well-capitalized banks have higher net interest margins and are more profitable. This is consistent with the fact that banks with higher capital ratios have a lower cost of funding because of lower prospective bankruptcy costs. * Differences in a bank's activity mix affect spread and profitability. Banks with relatively high noninterest-earning assets are less profitable. Also, banks that rely largely on deposits for their funding are less profitable, as deposits require more branching and other expenses. Similarly, variations in overhead and other operating costs are reflected in variations in bank interest margins, as banks pass their operating costs (including the corporate tax burden) on to their depositors and lenders. * In developing countries foreign banks have greater margins and profits than domestic banks. In industrial countries, the opposite is true. * Macroeconomic factors also explain variation in interest margins. Inflation is associated with higher realized interest margins and greater profitability. Inflation brings higher costs-more transactions and generally more extensive branch networks-and also more income from bank float. Bank income increases more with inflation than bank costs do. * There is evidence that the corporate tax burden is fully passed on to bank customers in poor and rich countries alike. * Legal and institutional differences matter. Indicators of better contract enforcement, efficiency in the legal system, and lack of corruption are associated with lower realized interest margins and lower profitability. This paper-a product of the Development Research Group-is part of a larger effort in the group to study bank efficiency.
Book Synopsis An Empirical Analysis of Interest Rate Spread in Kenya by : Rose Ngugi
Download or read book An Empirical Analysis of Interest Rate Spread in Kenya written by Rose Ngugi and published by . This book was released on 2001 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Determinants of Interest Spread in Kenya by : Rose Ngugi
Download or read book Determinants of Interest Spread in Kenya written by Rose Ngugi and published by . This book was released on 2004 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Term Structure of Interest Rates by : David Meiselman
Download or read book The Term Structure of Interest Rates written by David Meiselman and published by . This book was released on 1962 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Structural Issues in the Kenyan Financial System by : Thorsten Beck
Download or read book Structural Issues in the Kenyan Financial System written by Thorsten Beck and published by World Bank Publications. This book was released on 2004 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although by regional standards Kenya's financial system is relatively well developed and diversified, major structural impediments prevent it from reaching its full potential. Cross-country comparisons, however, show the importance of a well developed financial sector for long-term economic growth and poverty alleviation. Experience from other developing economies has shown the detrimental effect of government ownership and the positive impact that foreign bank ownership can have on the development of a market-based financial system. Analyzing and decomposing the high interest rate spreads and margins in Kenya helps identify structural impediments that drive the high cost of and low access to financial services. The limited information sharing on debtors, deficiencies in the legal and judicial system, the limited number of strong and reputable banks, and nontransparency and uncertainty in the banking market are major impediments to the development of Kenya's financial system, and to reducing spreads and widening access. This paper--a product of the Finance Team, Development Research Group--is part of a larger effort in the group to understand the determinants of financial sector development.
Book Synopsis Smart Technologies and Innovations in Design for Control of Technological Processes and Objects: Economy and Production by : Denis B. Solovev
Download or read book Smart Technologies and Innovations in Design for Control of Technological Processes and Objects: Economy and Production written by Denis B. Solovev and published by Springer. This book was released on 2019-05-18 with total page 789 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book features selected papers presented at The International Science and Technology Conference “FarEastCon”, which took place on October 2–4, 2018 in Vladivostok, Russian Federation. The conference represents an informational platform for accumulating expert opinion on projects and initiatives aimed at the implementation of farsighted scientific research and development; it also allows scientific and practical achievements to be shared with a wide circle of researchers. Sections of the conference are of interest for the broad range of experts involved in developing innovative solutions and organizing events that increase the efficiency of economic and innovative activities.
Book Synopsis Fiscal Architecture and Revenue Capacity in Kenya by :
Download or read book Fiscal Architecture and Revenue Capacity in Kenya written by and published by . This book was released on 2004 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Interest Rate Liberalization by : Mr.Bart Turtelboom
Download or read book Interest Rate Liberalization written by Mr.Bart Turtelboom and published by International Monetary Fund. This book was released on 1991-12-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper undertakes a survey of theoretical considerations and an analysis of the experience of five African countries with interest rate liberalization. Despite substantial progress in monetary policy reforms, liberalization has only partially affected the level and variability of interest rates. Several factors—macroeconomic instability, oligopolistic financial markets, the absence of developed capital markets, as well as the sequencing of the liberalization programs and the asymmetric availability of information—explain the increase in the spread between lending and deposit rates as well as the rather inflexible pattern of interest rates during the transition to a market-based financial system.
Book Synopsis Estimating and Interpreting Forward Interest Rates by : Mr.Lars E. O. Svensson
Download or read book Estimating and Interpreting Forward Interest Rates written by Mr.Lars E. O. Svensson and published by International Monetary Fund. This book was released on 1994-09-01 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of forward interest rates as a monetary policy indicator is demonstrated, using Sweden 1992-1994 as an example. The forward rates are interpreted as indicating market expectations of the time-path of future interest rates, future inflation rates, and future currency depreciation rates. They separate market expectations for the short-, medium-, and long-term more easily than the standard yield curve. Forward rates are estimated with an extended and more flexible version of Nelson and Siegel’s functional form.
Book Synopsis Riding the Yield Curve: Risk Taking Behavior in a Low Interest Rate Environment by : Mr.Ralph Chami
Download or read book Riding the Yield Curve: Risk Taking Behavior in a Low Interest Rate Environment written by Mr.Ralph Chami and published by International Monetary Fund. This book was released on 2020-03-13 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investors seek to hedge against interest rate risk by taking long or short positions on bonds of different maturities. We study changes in risk taking behavior in a low interest rate environment by estimating a market stochastic discount factor that is non-linear and therefore consistent with the empirical properties of cashflow valuations identified in the literature. We provide evidence that non-linearities arise from hedging strategies of investors exposed to interest rate risk. Capital losses are amplified when interest rates increase and risk averse investors have taken positions on instruments with longer maturity, expecting instead interest rates to revert back to their historical average.
Book Synopsis Bond Pricing and Yield Curve Modeling by : Riccardo Rebonato
Download or read book Bond Pricing and Yield Curve Modeling written by Riccardo Rebonato and published by . This book was released on 2018-06-07 with total page 781 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rebonato provides an authoritative, clear, and up-to-date explanation of the cutting-edge innovations in affine modeling for government bonds, and provides readers with the precise tools to develop their own models. This book combines precise theory with up-to-date empirical evidence to build, with the minimum mathematical sophistication required for the task, a critical understanding of what drives the government bond market.
Book Synopsis Monetary Transmission Mechanism in the East African Community by : Mr.Hamid Reza Davoodi
Download or read book Monetary Transmission Mechanism in the East African Community written by Mr.Hamid Reza Davoodi and published by International Monetary Fund. This book was released on 2013-02-06 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do changes in monetary policy affect inflation and output in the East African Community (EAC)? We find that (i) Monetary Transmission Mechanism (MTM) tends to be generally weak when using standard statistical inferences, but somewhat strong when using non-standard inference methods; (ii) when MTM is present, the precise transmission channels and their importance differ across countries; and (iii) reserve money and the policy rate, two frequently used instruments of monetary policy, sometimes move in directions that exert offsetting expansionary and contractionary effects on inflation—posing challenges to harmonization of monetary policies across the EAC and transition to a future East African Monetary Union. The paper offers some suggestions for strengthening the MTM in the EAC.
Book Synopsis Better Understanding of the Kenyan Economy by : Maureen Were
Download or read book Better Understanding of the Kenyan Economy written by Maureen Were and published by . This book was released on 2002 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper attempts to provide a better understanding of the Kenyan economy and an analysis of opportunities for economic growth by constructing different economic scenarios using the KIPPRA-Treasury Macro Model.
Download or read book Interest Rates in Kenya written by and published by . This book was released on 1997 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis 50 Years of Central Banking in Kenya by : Patrick Njoroge
Download or read book 50 Years of Central Banking in Kenya written by Patrick Njoroge and published by Oxford University Press. This book was released on 2021 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book documents important milestones in the epic journey traversed by the Central Bank of Kenya over the last 50 years, putting into perspective the evolution of central banking globally and within the East African region, and contemplating future prospects and challenges. The book is timely, mainly because the global financial landscape has shifted. Central bankers have expanded their mandates, beyond the singular focus on inflation and consider economic growth as their other important objective. Financial crises have continued to disrupt the functioning of financial institutions and markets, the most devastating episodes being the global financial crisis, which broke out in 2008 and from which the global financial system has not fully recovered, and the unprecedented challenges posed by the global coronavirus pandemic. Bank regulation has moved from Basel I, to Basel II, and somehow migrated to Basel III, although some countries are still at the cross-roads. The book originated from the wide ranging discussions on central banking, from a symposium to celebrate the 50 year anniversary on 13 September 2016 in Nairobi. The participants at the symposium included current and former central bank governors from Kenya and the Eastern Africa region, high level officials from multilateral financial institutions, policy makers, bank executives, civil society actors, researchers and students. The book is an invaluable resource for policy makers, practitioners and researchers, on how monetary policy and financial practices in vogue today in Kenya have evolved through time and worked very well, but also about some pitfalls"--