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 For full Report: Kenya
effects of inflation on the economy.7 Large differentials between deposit rates Table 9.4 shows the figures for December 2006 in terms of different deposit rates in the Kenyan banking system. As we see, there are extremely large dis- parities in these various deposit rates. Thes...
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effects of inflation on the economy.7 Large differentials between deposit rates Table 9.4 shows the figures for December 2006 in terms of different deposit rates in the Kenyan banking system. As we see, there are extremely large dis- parities in these various deposit rates. These disparities no doubt reflect strong differences in institutional structures and instruments being offered to bank clients. For example, there is more than a four percentage-point gap between even the commercial banks’ own “savings rate
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www.undp-povertycentre.org/publications/reports/Kenya.pdf#page=39
spreads between <span class="highlight">deposit</span> and lending rates, which are extremely wide. Again, de- pending on how one calculates a real interest rate, most <span class="highlight">deposit</span> rates are actually negative. There is therefore <span class="highlight">no</span> incentive to save in formal financial markets. These wide interest rate spreads indicate lack of competition in the commercial banking system. 3. The commercial banking system lends more than one-third of its <span class="highlight">deposit</span> base to the government. This of course reduces the availability of funds for businesses, especially SMEs
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www.undp-povertycentre.org/publications/reports/Kenya.pdf#page=172
they are aware of these tensions. They do not appear to believe that it is necessary to tighten mon- etary policy in response to food or oil price shocks. It is apparent that in 2006, they did not attempt to tighten excessively in 2006 when food and energy supply shocks raised CPI “head- line” inflation to 13.5 percent. 3. The discussion of the CPI in the 2002 report (Government of Kenya 2002) is based on the 1997 revision of the Kenyan Consumer Price <span class="highlight">Index</span>. Note that we are referring here to the “New Kenya
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www.undp-povertycentre.org/publications/reports/Kenya.pdf#page=193
siderable uncertainty in the financial system. 2. More significant than problems with interest rate levels are the spreads be- tween <span class="highlight">deposit</span> and lending rates, which are extremely wide, as we also re- viewed in Chapter 7 (Figure 7.5). Again, depending on how one calculates a real interest rate, most <span class="highlight">deposit</span> rates are actually negative. There is therefore <span class="highlight">no</span> incentive to save in formal financial markets. These wide interest rate spreads indicate lack of competition in the commercial banking system. 3. The commercial
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www.undp-povertycentre.org/publications/reports/Kenya.pdf#page=200
on inflation. Lending-<span class="highlight">deposit</span> rate spread However we may interpret the lending rate level, what is clear is that the interest rate spreads are very high. We have reviewed the basic data on this from 1971– 2006 in Chapter 7 (Figure 7.5). But it will be useful here to examine this set of data again, focusing now on the period since the liberalization of financial mar- kets, i.e. from the early 1990s to the present. Figure 9.2 shows the movement in the difference between the commercial banks’ 0-3 month demand
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www.undp-povertycentre.org/publications/reports/Kenya.pdf#page=201
An Employment-Targeted Economic Program for Kenya200 <span class="highlight">deposit</span> rate for 2006 averaged 5.1 percent. This means that the real <span class="highlight">deposit</span> rate for 2006—again, establishing the real rate based on the contemporaneous CPI inflation rate—was -8.4 percent, with the overall inflation rate at 13.5 percent. In this sense, it is not surprising that the spread should be so large, to the extent that the inflation rate is indeed capturing something significant about price behavior in Kenya. In this context, the primary
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http://www.undp-povertycentre.org/publications/reports/Kenya.pdf#page=202
www.undp-povertycentre.org/publications/reports/Kenya.pdf#page=202
effects of inflation on the economy.7 Large differentials between <span class="highlight">deposit</span> rates Table 9.4 shows the figures for December 2006 in terms of different <span class="highlight">deposit</span> rates in the Kenyan banking system. As we see, there are extremely large dis- parities in these various <span class="highlight">deposit</span> rates. These disparities <span class="highlight">no</span> doubt reflect strong differences in institutional structures and instruments being offered to bank clients. For example, there is more than a four percentage-point gap between even the commercial banks’ own “savings rate
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www.undp-povertycentre.org/publications/reports/Kenya.pdf#page=213
An Employment-Targeted Economic Program for Kenya212 2. <span class="highlight">Index</span> bond rates to inflation. As we have discussed, uncertainty as to the effects of inflation on the real returns to lenders is contributing to the high risk premium in the Kenyan financial system, and thus again to the large gap between <span class="highlight">deposit</span> and lending rates. Indexing bonds to inflation is a well- developed measure of protecting the value of bonds against changes in in- flation. At the same time, building indexation into loan contracts also
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www.undp-povertycentre.org/publications/reports/Kenya.pdf#page=252
ACRONYMS 251 CD certificate of <span class="highlight">deposit</span> COMESA Common Market for Eastern and Southern Africa CPI Consumer Price <span class="highlight">Index</span> EPZ export processing zones ERS Economic Recovery Strategy for Wealth and Employment Creation FAOSTAT Food and Agriculture Organization [of the United Nations] Statistics GDP Gross Domenstic Product HCDA Horticultural Crops Development Authority HIPC Highly Indebted Poor Countries IMF International Monetary Fund IPO Initial Public Offering ICDC Industrial and Commercial Development
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www.undp-povertycentre.org/publications/reports/Kenya.pdf#page=262
<span class="highlight">Index</span> 261 Agricultural Development Corporation, 128, 193, 212 Agricultural sector beans, 101, 115 coffee (See Coffee and tea) cooperatives (See Cooperatives) decline, 107–110 demand-driven extension, 6–7, 131 development, 6–7 employment in, 57–58, 60-61 energy supply shocks and, 108 export of agricultural products, 115–120 fertilizers, 108–109, 113–114, 187 GDP percentage, 106, 115 growth forecast, 106 horticulture (See Horticulture) irrigation (See Irrigation) livestock, 128–129 loan availability, 192–193
Relative Techniques
Practice Quiz for Relative Techniques Practice Quiz for Relative Techniques No. of Questions= 9 INSTRUCTIONS: To answer a question, click the button in front of your choice. A response will appear in the window below the question to let you know if you are correct. Be sure to read the fee...
For full Report: Yemen
BDS Business Development Support CACB Cooperative Agricultural Credit Bank CBS Central Bureau of Statistics CBY Central Bank of Yemen CD Certificate of Deposit CPI Consumer Price Index CSO Central Statistical Office DRDI Domestic Resources for Development and Investment EFARP Economic,...
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BDS Business Development Support CACB Cooperative Agricultural Credit Bank CBS Central Bureau of Statistics CBY Central Bank of Yemen CD Certificate of Deposit CPI Consumer Price Index CSO Central Statistical Office DRDI Domestic Resources for Development and Investment EFARP Economic, Financial and Administrative Reform Programme EU European Union FAO Food and Agriculture Organization FDI Foreign Direct Investment GAFTA Great Arab Free Trade Area GCC Gulf Cooperation Countries GDP Gross Domestic Product
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http://www.undp-povertycentre.org/publications/reports/Yemen.pdf#page=6
www.undp-povertycentre.org/publications/reports/Yemen.pdf#page=6
BDS Business Development Support CACB Cooperative Agricultural Credit Bank CBS Central Bureau of Statistics CBY Central Bank of Yemen CD Certificate of <span class="highlight">Deposit</span> CPI Consumer Price <span class="highlight">Index</span> CSO Central Statistical Office DRDI Domestic Resources for Development and Investment EFARP Economic, Financial and Administrative Reform Programme EU European Union FAO Food and Agriculture Organization FDI Foreign Direct Investment GAFTA Great Arab Free Trade Area GCC Gulf Cooperation Countries GDP Gross Domestic Product
NYTimes Topic: Certificates of Deposit
Certificates of Deposit News - The New York Times Log In Register Now Help Home Page Today's Paper Video Most Popular Times Topics Search All NYTimes.com Tuesday, November 13, 2012 Times Topics World U.S. N.Y. / Region Business Technology Science Health Sports Opinion Arts Style Trave...
The Antioch Review
Index of / Index of /
Laissez-faire Money or Free Banking
arrangements were made. We can evolve some arrangement of private deposit insurance so that depositors are assured of the safety of their deposits. The existing arrangement of tax-funded deposit insurance schemes by the government lacks competition and incentives, which private depo...
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arrangements were made. We can evolve some arrangement of private deposit insurance so that depositors are assured of the safety of their deposits. The existing arrangement of tax-funded deposit insurance schemes by the government lacks competition and incentives, which private deposit insurance could provide and probably such arrangements may work better in a free money regime. Can we say that such run-proofing arrangements may work even when we have fiat-type moneys or competitive payment systems without base money
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http://www.ccsindia.org/ccsindia/images/first_chapter_mmm.pdf#page=9
www.ccsindia.org/ccsindia/images/first_chapter_mmm.pdf#page=9
Money, Market, Marketwallahs 9 switches over from deposits to banknotes, banks’ reserves may be depleted which may initiate a crisis because some of the banks would attempt to build up their reserves as they had to issue more banknotes. In free banking, there would be <span class="highlight">no</span> such need. Banks themselves can switch over from deposits to banknotes and vice versa—without making any changes in their normal reserves, which they consider necessary to meet ordinary demand for base money. In the present system, we have
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http://www.ccsindia.org/ccsindia/images/first_chapter_mmm.pdf#page=10
www.ccsindia.org/ccsindia/images/first_chapter_mmm.pdf#page=10
arrangements were made. We can evolve some arrangement of private <span class="highlight">deposit</span> insurance so that depositors are assured of the safety of their deposits. The existing arrangement of tax-funded <span class="highlight">deposit</span> insurance schemes by the government lacks competition and incentives, which private <span class="highlight">deposit</span> insurance could provide and probably such arrangements may work better in a free money regime. Can we say that such run-proofing arrangements may work even when we have fiat-type moneys or competitive payment systems without base money
Monetary Policy and Financial Sector Reform for Employment Creation and Poverty Reduction ...
30 Country Study nº 2 One potential problem w ith loan guarantees is that they can create the w rong incentives for borrow ers. If borrow ers bear no responsibility for the consequences for non-performing loans, then the incentive to insure that employment-oriented investments bear frui...
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30 Country Study nº 2 One potential problem w ith loan guarantees is that they can create the w rong incentives for borrow ers. If borrow ers bear no responsibility for the consequences for non-performing loans, then the incentive to insure that employment-oriented investments bear fruit is w eakened. Therefore, it is important to design a loan guarantee scheme that reduces risk premiums w hile simultaneously preserving a system of monitoring of, and accountability by, the borrow er. This could
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http://www.undp-povertycentre.org/pub/IPCCountryStudy2.pdf#page=25
www.undp-povertycentre.org/pub/IPCCountryStudy2.pdf#page=25
informal enterprises could be substantially higher. Although there is <span class="highlight">no</span> complete consensus on the reasons for such high real interest rates and spreads, there are a number of factors that most analysts agree play a role. 4.2.2 Concentration in the Banking Sector The banking sector currently consists of a significant number of different types of institutions, w ith approximately tw enty major banks and 120 rural and community banks. The group of major banks consists of eight commercial banks, three
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www.undp-povertycentre.org/pub/IPCCountryStudy2.pdf#page=32
30 Country Study nº 2 One potential problem w ith loan guarantees is that they can create the w rong incentives for borrow ers. If borrow ers bear <span class="highlight">no</span> responsibility for the consequences for non-performing loans, then the incentive to insure that employment-oriented investments bear fruit is w eakened. Therefore, it is important to design a loan guarantee scheme that reduces risk premiums w hile simultaneously preserving a system of monitoring of, and accountability by, the borrow er. This could
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