Arai, Mahmood () (Dept. of Economics, Stockholm University) Kinnwall, Mats () (Handelsbanken Markets) Skogman Thoursie, Peter () (Dept. of Economics, Stockholm University)
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Empirical foundations for the view that high inflation impairs GDP growth are
examined using annual data for 115 countries over the period 1960-1995.
Taking into account country heterogeneity and time-specific symmetric shocks,
as well as endogeneity of inflation and dynamics of GDP growth we estimate
dynamic panel-data models of the effects of inflation on growth. We find no
evidence supporting the view that inflation is in general harmful to GDP
growth. On the other hand, there is a negative correlation between
contemporaneous intra-country inflation and growth for periods characterised
by positive oil-price shocks.
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Paper provided by Stockholm University, Department of Economics in its series Research Papers in Economics with number
2002:5.
Length: 25 pages Date of creation: 08 Feb 2002 Date of revision: Handle: RePEc:hhs:sunrpe:2002_0005
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Find related papers by JEL classification: O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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