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Title: The Balance of Payment as Monetary Phenomenon in Mozambique
Authors: Novitos do Nascimento André, Silvestre
Keywords: Payment
Issue Date: 15-Feb-2007
Abstract: This paper examines whether the balance of payments in Mozambique is a monetary phenomenon, given that since 1975, Mozambique ran a balance of payment deficit, except in 2003. For the reestablishment of the balance of payments equilibrium the governmental and monetary authority adopted several measures. These measures included those for the reduction of the excess domestic absorption to reduce the imports and promoting exports; as well as the implementation of the exchange rate adjustment or for currency depreciation (one of the essential monetary instruments) adopted together with the domestic credit limit and the restrictive fiscal policy were structural measures to stimulate the domestic production. Using quarterly data, from 1993: q1 to 2005: q4, and based on fundamental equation for monetary approach, together with econometric procedures for time series, the study found that monetary variables played a role in net foreign asset determination. The major conclusion drawn in this study is that there are evidences that we can accept that the balance of payments is influenced by monetary phenomenon; however there is room to accept that the deficit cannot be corrected only through monetary targeting but with fiscal and institutional instruments.
Description: Dissertation Submitted in Partial Fulfilment of the Requirements for the MA Economics and Management Degree
Appears in Collections:Dissertações de Mestrado

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