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Interactions between banks and open capital account are investigated as rationalizations for empirical regularities characterizing disinflation programs anchored by the exchange rate. The financial system is characterized by bank dominance and lending externality – banks do not internalize the effect of their lending on other banks’ information about potential borrowers. Model dynamics simulation shows that remonetization in the wake of disinflation increases loanable funds supply and translates into bank credit expansion financed by capital inflows. A credit-driven boom results, accompanied by overvaluation and current account deficits generating financial fragilities and vulnerability to a shock that can trigger banking and balance-of-payments crises.

Banks and Banking --- Exports and Imports --- Money and Monetary Policy --- Macroeconomics --- Money Supply --- Credit --- Money Multipliers --- Current Account Adjustment --- Short-term Capital Movements --- Open Economy Macroeconomics --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- International Investment --- Long-term Capital Movements --- Macroeconomics: Consumption --- Saving --- Wealth --- Banking --- Monetary economics --- International economics --- Bank credit --- Currencies --- Commercial banks --- Capital inflows --- Money --- Financial institutions --- Balance of payments --- Consumption --- National accounts --- Banks and banking --- Capital movements --- Economics --- Argentina

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This volume documents Tanzania’s remarkable turnaround from severe economic distress in 1985, and reviews the economic policies that twenty years later contributed to a successful reversal. Tanzania still faces many policy and reform challenges, despite the many recent economic achievements the country has experienced.

Finance, Public --- Monetary policy --- Economic assistance --- Tanzania --- Economic conditions --- Economic policy. --- Economic aid --- Foreign aid program --- Foreign assistance --- Grants-in-aid, International --- International economic assistance --- International grants-in-aid --- Economic policy --- International economic relations --- Conditionality (International relations) --- Monetary management --- Currency boards --- Money supply --- Cameralistics --- Public finance --- Public finances --- Currency question --- Exports and Imports --- Foreign Exchange --- Public Finance --- National Government Expenditures and Related Policies: General --- Empirical Studies of Trade --- Foreign Aid --- International economics --- Public finance & taxation --- Currency --- Foreign exchange --- Trade balance --- Foreign aid --- Public financial management (PFM) --- Expenditure --- International trade --- Balance of trade --- International relief --- Expenditures, Public --- Tanzania, United Republic of