01738cas a2200241 a 4500 AALejournalIMF004309 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451926002 1018-5941 BD-DhAAL BD-DhAAL Nascimento, Jean-Claude. Monetary Policy in Unified Currency Areas : The Cases of the Cama and Ecca During 1976-90 / Jean-Claude Nascimento. Washington, D.C. : International Monetary Fund, 1994. 1 online resource (48 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The paper compares the performance of monetary policy in the Central African Monetary Area (CAMA) and the Eastern Caribbean Currency Area (ECCA) during 1976-90. Their institutional setup and mechanism for monetary control are examined to explain the opposite trends in the net external position of their banking system during this period. It concludes that monetary policy in the ECCA succeeded by relying on active interest rate management aimed at stemming capital outflows and adhering to stringent rules aimed at limiting credit expansion. The passive policy stance in the CAMA contributed to a significant redistribution of the area's money stock. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1994/011 Full text available on IMF http://elibrary.imf.org/view/journals/001/1994/011/001.1994.issue-011-en.xml IMF e-Library