EXPLAINING AFRICAN ECONOMIC GROWTH PERFORMANCE: …
A major concern through the 1990s was the high level of interest rates, which were pegged on the treasury bill rate, which remained high as the authorities implemented a tight monetary policy. ... Ghana 335%; Nigeria 161%; and Zambia 226%. Taking 1970 as an year when Kenya had both internal and external balances, Mwega (2002) shows that the ... ................
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