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An Econometric Analysis of Inflation in Sierra Leone

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  • Kallon, Kelfala M

Abstract

This paper is an econometric study of the inflationary process in Sierra Leone. Using data from the 1967:1-1987:4 period, the parameters of a reduced-form inflation equation from an open-economy IS-LM model were estimated for the Sierra Leonean economy. The results reject the monetarist assertion that velocity is constant and that a percentage change in the money supply leads to an equiproportionate change in the inflation rate in the short run. In the long run, however, the hypothesis that money-supply growth would lead to an equiproportionate increase in the price level could not be rejected. Additionally, the evidence suggests that part of Sierra Leone's inflation is imported from the rest of the world. On the other hand, international capital mobility is not a contributing factor to Sierra Leone's inflation problem. Copyright 1994 by Oxford University Press.

Suggested Citation

  • Kallon, Kelfala M, 1994. "An Econometric Analysis of Inflation in Sierra Leone," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 3(2), pages 199-230, October.
  • Handle: RePEc:oup:jafrec:v:3:y:1994:i:2:p:199-230
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    Cited by:

    1. Kadima D. Kalonji & Jan Gottschalk & Ken Miyajima, 2008. "Analyzing Determinants of Inflation When There Are Data Limitation; The Case of Sierra Leone," IMF Working Papers 08/271, International Monetary Fund.
    2. repec:spr:empeco:v:54:y:2018:i:2:d:10.1007_s00181-016-1223-0 is not listed on IDEAS
    3. Carlos Barros & Luis Gil-Alana, 2013. "Inflation Forecasting in Angola: A Fractional Approach," African Development Review, African Development Bank, vol. 25(1), pages 91-104.
    4. Hachicha, Ahmed & Lean Hooi Hooi, 2013. "Inflation, inflation uncertainty and output in Tunisia," Economics Discussion Papers 2013-1, Kiel Institute for the World Economy (IfW).

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