Does Inflation Targeting Matter for Output Growth? Evidence from Industrial and Emerging Economies

Does Inflation Targeting Matter for Output Growth? Evidence from Industrial and Emerging Economies

This paper examines the effects of inflation targeting on industrial and emerging economies' output growth over the "globalization years" of 1986-2004. Controlling for trade openness and two indicators of financial globalization, the...

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Bibliographic Details
Main Authors:	Mollick, André Varella, Torres, René Cabral, Carneiro, Francisco G.
Format:	Policy Research Working Paper
Language:	English
Published:	Washington, DC: World Bank 2012
Subjects:	ACCOUNTING ASSETS BANK OPERATIONS BOND BUSINESS CYCLES BUSINESS ECONOMICS CAPITAL ACCOUNT CAPITAL ACCOUNT LIBERALIZATION CAPITAL ACCOUNT OPENNESS CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL GOODS CAPITAL INFLOWS CENTRAL BANK CENTRAL BANKS COLLATERAL CONTROL VARIABLES CORRELATION COEFFICIENT CORRELATION COEFFICIENTS COUNTRY ECONOMICS CREDIBILITY CURRENCY DEBT DEBT MATURITY DEBT STRUCTURE DEPENDENT VARIABLE DESCRIPTIVE STATISTICS DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPMENT ECONOMICS DIRECT INVESTMENT DISINFLATION DOMESTIC SECURITIES DUMMY VARIABLE DUMMY VARIABLES ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC RESEARCH EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS EMERGING MARKETS ECONOMIES EQUATIONS EQUIPMENT EQUITY FINANCING EQUITY MARKET ERROR TERM EXCHANGE RATE EXCHANGE RATE TARGETING EXCHANGE RATE VOLATILITY EXPLANATORY VARIABLE EXPLANATORY VARIABLES EXPORTS EXTERNAL ASSETS EXTERNAL POSITION FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL CRISES FINANCIAL DEVELOPMENT FINANCIAL FLOWS FINANCIAL INSTITUTIONS FINANCIAL INTEGRATION FINANCIAL LIBERALIZATION FINANCIAL MARKETS FINANCIAL OPENNESS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FIXED EFFECTS FOREIGN ASSETS FOREIGN DIRECT INVESTORS FOREIGN INVESTORS GDP GDP PER CAPITA GLOBAL DISINFLATION GLOBALIZATION GROWTH RATE GROWTH RATES IMPORTS INCOME INCOME GROWTH INDUSTRIAL COUNTRIES INDUSTRIAL ECONOMIES INDUSTRIAL ECONOMY INFLATION INFLATION COMMITMENT INFLATION ENVIRONMENT INFLATION EXPECTATIONS INFLATION TARGETING INFLATION TARGETING REGIMES INFLATION TARGETS INSTRUMENTAL VARIABLES INTEREST PARITY INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL ECONOMICS INTERNATIONAL FINANCIAL INTEGRATION INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL MONEY INVESTMENT ASSETS INVESTMENT DECISIONS LIABILITY LIBERALIZATION LIBERALIZATIONS LOCAL FINANCIAL MARKETS LONG-TERM DEBT MACROECONOMICS MATURITY MATURITY STRUCTURE MONETARY ECONOMICS MONETARY POLICIES MONETARY POLICY MONETARY POLICY REGIMES MONETARY REGIMES MONOPOLIES NOMINAL INCOME OUTPUT OUTPUT GAP OUTPUT LOSSES OUTPUT PER CAPITA OUTPUT RATIO OUTPUT RATIOS PER CAPITA INCOME POLITICAL ECONOMY POPULATION GROWTH PORTFOLIO POSITIVE EFFECTS POTENTIAL OUTPUT PRICE STABILITY PUBLIC FINANCE REAL EXCHANGE RATE REAL GDP REGRESSION ANALYSIS RETURNS SECURITIES SERIAL CORRELATION STABLE INFLATION STOCHASTIC ERROR STOCK MARKET STOCKS SUM OF IMPORTS TRADE LIBERALIZATION TRADE OPENNESS TRADE UNIONS UNCERTAINTY WEALTH WORLD MARKET WORLD MARKET INTEGRATION
Online Access:	http://documents.worldbank.org/curated/en/2008/12/10077499/inflation-targeting-matter-output-growth-evidence-industrial-emerging-economies http://hdl.handle.net/10986/6296

Internet

http://documents.worldbank.org/curated/en/2008/12/10077499/inflation-targeting-matter-output-growth-evidence-industrial-emerging-economies
http://hdl.handle.net/10986/6296

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