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Politiques de stabilisation en Europe de l'Est : ancrage par le change ou ciblage d'inflation ?


  • Sophie Brana
  • Stéphanie Prat


The Central and Eastern European countries have used since the beginning of the transition of many monetary and exchange rate strategies to fight against inflation. One can find the full spectrum of regimes, from free floating, currency board, monetary anchors, inflation targeting, through crawling pegs or fluctuation bands. This article examines the impact of these strategies on the performance in terms of inflation for a panel of 14 Central and Eastern European countries. It appears that in early transition, the exchange rate peg has been the most effective way to break the inflationary dynamic. However, more recently, in a context of moderate inflation, inflation targeting strategies seem to be more appropriate.

Suggested Citation

  • Sophie Brana & Stéphanie Prat, 2014. "Politiques de stabilisation en Europe de l'Est : ancrage par le change ou ciblage d'inflation ?," Mondes en développement, De Boeck Université, vol. 0(3), pages 93-112.
  • Handle: RePEc:cai:meddbu:med_167_0093

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