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
Monetary Policy
Central Banks and Their Policies
Fiscal and Monetary Policy in Development
Thema
Inflation targeting
Low-income countries
Institutions
Low-income countries
Institutions
Ereignis
Geistige Schöpfung
(wer)
Bleaney, Michael F.
Morozumi, Atsuyoshi
Mumuni, Zakari
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
-
20.09.2024, 08:22 MESZ
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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