Arbeitspapier
Inflation targeting in low-income countries: Does IT work?
Previous research on inflation targeting (IT) has focused on high-income countries (HICs) and emerging market economies (EMEs). Only recently has enough data accumulated for the performance of IT in low-income countries (LICs) to be assessed. We show that IT has not so far been as effective in reducing inflation in LICs as in EMEs. Relatively weak institutions, a typical feature of LICs, help explain this result. Our interpretation is that poor institutions, leaving fiscal policy unconstrained, impair central banks' ability to conduct monetary policy in a way consistent with IT.
- Sprache
-
Englisch
- Erschienen in
-
Series: CREDIT Research Paper ; No. 20/01
- Klassifikation
-
Wirtschaft
Monetary Policy
Central Banks and Their Policies
Fiscal and Monetary Policy in Development
- Thema
-
Inflation targeting
Low-income countries
Institutions
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bleaney, Michael F.
Morozumi, Atsuyoshi
Mumuni, Zakari
- Ereignis
-
Veröffentlichung
- (wer)
-
The University of Nottingham, Centre for Research in Economic Development and International Trade (CREDIT)
- (wo)
-
Nottingham
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Bleaney, Michael F.
- Morozumi, Atsuyoshi
- Mumuni, Zakari
- The University of Nottingham, Centre for Research in Economic Development and International Trade (CREDIT)
Entstanden
- 2020
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