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The Term Structure and Treasury Bill Market Efficiency in Tanzania: The Term Structure of Interest Rates and the Efficiency of the Primary Market of Treasury Bills in Tanzania - Couverture souple

Minja, Ellinami

 
9783639070781: The Term Structure and Treasury Bill Market Efficiency in Tanzania: The Term Structure of Interest Rates and the Efficiency of the Primary Market of Treasury Bills in Tanzania
Couverture souple
ISBN 10 : 363907078X ISBN 13 : 9783639070781
Editeur : VDM Verlag Dr. Müller, 2008

Synopsis

There is an increasing trend of the conduct of monetary policy in developing countries to mirror, at least on paper, those in developed economies. The structures in the former economies are not only different but they are also weak in some areas. One aspect that came with the liberalization of the financial markets in Tanzania was changing the trading of Treasury securities in the primary market to the auction system which uses discriminatory prices, rather than a single uniform price, in allocating securities to bidders. This, however, was not coupled with development of an organized secondary market for the Treasury securities. Consequently, the resulting yield curve and the efficiency of this market may be expected to be different from where secondary markets are well developed. This work provides an initial assessment of the Treasury bill auction system in Tanzania and the efficiency of the primary market. It forms a basis for understanding the term structure of interest rates in Tanzania and analyzing the yield curve and the integrity of the auction process.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Présentation de l'éditeur

There is an increasing trend of the conduct of monetary policy in developing countries to mirror, at least on paper, those in developed economies. The structures in the former economies are not only different but they are also weak in some areas. One aspect that came with the liberalization of the financial markets in Tanzania was changing the trading of Treasury securities in the primary market to the auction system which uses discriminatory prices, rather than a single uniform price, in allocating securities to bidders. This, however, was not coupled with development of an organized secondary market for the Treasury securities. Consequently, the resulting yield curve and the efficiency of this market may be expected to be different from where secondary markets are well developed. This work provides an initial assessment of the Treasury bill auction system in Tanzania and the efficiency of the primary market. It forms a basis for understanding the term structure of interest rates in Tanzania and analyzing the yield curve and the integrity of the auction process.

Biographie de l'auteur

Ellinami J MINJA is a Lecturer in Finance and Economics at the University of Dar es Salaam, Tanzania. He holds a Ph.D. in Economics from Oklahoma State University and also a Certified Public Accountant (CPA). He has taught at university level since 1991 in a number of universities holding both academic and administrative positions.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
VDM Verlag Dr. Müller
Date d'édition
2008
Langue
anglais
ISBN 10 
363907078X
ISBN 13 
9783639070781
Reliure
Broché
Nombre de pages
104
Coordonnées du fabricant
non disponible
Personne responsable
non disponible