Challenges for Inflation Targeting in Emerging Market Countries
AbstractIn the past decade, numerous emerging market countries have adopted inflation targeting as their basic monetary policy strategy. The institutional framework in many emerging market countries that affects monetary policy outcomes has generally differed from that in advanced countries. This paper first outlines what traditionally has made emerging market and other developing economies different from advanced countries and what challenges these differences have presented to those that adopted inflation targeting. The paper then examines whether, given these challenges, inflation targeting has been a success in emerging market countries.
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Bibliographic InfoArticle provided by M.E. Sharpe, Inc. in its journal Emerging Markets Finance and Trade.
Volume (Year): 44 (2008)
Issue (Month): 6 (November)
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Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=111024
emerging market countries; inflation targeting; institutions; monetary policy;
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- Akyurek, Cem & Kutan, Ali M. & Yilmazkuday, Hakan, 2011. "Can inflation targeting regimes be effective in developing countries? The Turkish experience," Journal of Asian Economics, Elsevier, vol. 22(5), pages 343-355, October.
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- Tsong, Ching-Chuan & Lee, Cheng-Feng, 2011. "Asymmetric inflation dynamics: Evidence from quantile regression analysis," Journal of Macroeconomics, Elsevier, vol. 33(4), pages 668-680.
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