Interest rate pass-through in the Eastern Europe: Case of Albania - An empirical Analysis
|Author:||Mgr. Mimi Hoxha|
|Year:||2016 - winter|
|Leaders:|| prof. Roman Horváth Ph.D.
|Work type:|| Masters
|Awards and prizes:|
|Abstract:||The study of interest pass through has been on the core attention of researchers since it serves as an
incentive to evaluate the accuracy of monetary policy transmission mechanism. Therefore there are a lot
of studies conducted under this topic encompassing a large number of countries and data.
My aim, inspired by the great previous works, is to develop the same topic but by focusing on Balkan
countries and more specifically on Albania. Being a developing country located on the heart of Balkan
while aspiring the EU integration, Albania has gone under a considerable number of economic reforms
which are also reflected on the degree and speed of transmission of policy rates to landing rates and on
the determinants of such rates.
Crisis of 2008 had a global impact but yet several conducted studies revealed that Albania was not
directly affected by it. My contribution to this thesis consists in measuring how the pass-through
mechanism performance was affected by the crisis and the implications derived from it.