Central Bank Policies and Market Power Over the Business Cycle in Africa
Date
2022
Journal Title
Journal ISSN
Volume Title
Publisher
Journal of Emerging Market Finance
Abstract
This article empirically examines the impact of the business cycle on the
relationship between individual central bank policies and market power.
We present a representative sample of 52 African economies over
the period 2006–2018. We find that monetary, macro-prudential and
central bank independence policies increase market power. The study
found that, in the long run, market power reacts positively to changes
or adjustments made to a central bank policy framework. We show that
the individual central bank’s policy framework increases market power.
when interacted with business cycle
Description
Research Article
Keywords
Central bank policies, business cycle, market power