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AN ASSESSMENT OF INFLATION TARGETING AND ITS APPLICATION IN SOUTH AFRICA

AN ASSESSMENT OF INFLATION TARGETING AND ITS APPLICATION IN SOUTH AFRICA This paper assesses South Africa's experience with inflation targeting in the light of recent academic debates. The evidence suggests that while inflation has declined during the 2000s, output has not been constrained. On the contrary, the average output growth rate has been higher with lower inflation and lower real interest rates. The volatility of these variables has also declined. These developments have been achieved despite the significant shocks that the economy faced over this period. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Economic History of Developing Regions Taylor & Francis

AN ASSESSMENT OF INFLATION TARGETING AND ITS APPLICATION IN SOUTH AFRICA

Economic History of Developing Regions , Volume 26 (sup1): 21 – Jun 1, 2011
21 pages

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References (37)

Publisher
Taylor & Francis
Copyright
Copyright Economic History Society of Southern Africa
ISSN
2078-0397
eISSN
2078-0389
DOI
10.1080/20780389.2011.586409
Publisher site
See Article on Publisher Site

Abstract

This paper assesses South Africa's experience with inflation targeting in the light of recent academic debates. The evidence suggests that while inflation has declined during the 2000s, output has not been constrained. On the contrary, the average output growth rate has been higher with lower inflation and lower real interest rates. The volatility of these variables has also declined. These developments have been achieved despite the significant shocks that the economy faced over this period.

Journal

Economic History of Developing RegionsTaylor & Francis

Published: Jun 1, 2011

Keywords: monetary policy; inflation targeting; South African Reserve Bank; N27

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