Political economy

Bank Credit and Transmission Mechanisms of Monetary Policy in Uganda

This paper examines the effect of monetary policy on bank credit in Uganda during the January 2008 to December 2017 period. By using macro level monthly data, it tests for the existence of monetary policy transmission channels, in particular the presence of bank credit channel in the economy of Uganda. This is done by showing that bank credit growth in Uganda is affected by monetary policy shocks. Before conducting data...