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Inflation dynamics in Kazakhstan1

Author

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  • Mark De Broeck
  • Paula De Masi
  • Vincent Koen

Abstract

In January 1992, Kazakhstan initiated a reform programme to move towards market‐determined prices. The price liberalization process was characterized by large relative price shifts and an increase in the overall price level towards those observed in market economies. The paper shows how the piecemeal manner in which prices were liberalized resulted in strong relative price variability over a prolonged period of time, against a background of high inflation. Convergence towards international relative and absolute price levels has progressed but is not complete, with prices for energy and services in particular still below market economy levels.

Suggested Citation

  • Mark De Broeck & Paula De Masi & Vincent Koen, 1997. "Inflation dynamics in Kazakhstan1," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 5(1), pages 195-213, May.
    • Handle: RePEc:bla:etrans:v:5:y:1997:i:1:p:195-213
    DOI: 10.1111/j.1468-0351.1997.tb00011.x
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    References listed on IDEAS

    as
    1. Mr. Kimberly D. Zieschang, 1995. "Methodologies of Price Indices in Transition Countries," IMF Working Papers 1995/106, International Monetary Fund.
    2. Paula De Masi & Vincent Koen, 1996. "Relative Price Convergence in Russia," IMF Staff Papers, Palgrave Macmillan, vol. 43(1), pages 97-122, March.
    3. International Monetary Fund, 1995. "Inflation Dynamics in Kazakstan," IMF Working Papers 1995/140, International Monetary Fund.
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    Cited by:

    1. da Rocha, Bruno T., 2015. "Let the markets begin: The interplay between free prices and privatisation in early transition," Journal of Comparative Economics, Elsevier, vol. 43(2), pages 350-370.

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