The analysis of inflation’s effect on investment can contribute to a deeper understanding of the benefits of a monetary policy oriented towards price stability. It can also help conduct such a policy effectively. We begin with a review of conclusions about the inflation-investment relationship...

This paper tests the proposition that financial development promotes economic growth and the extent, focusing exclusively on Africa. Twenty countries spread over the different regions of the continent constituted the sample. Dynamic panel data analyses were conducted under an arrangement...

Existing monetary growth theories predict either negative or neutral effects from inflation on human capital. In this paper we develop a simple alternative model, which can generate positive effects. Our empirical analysis for 93 countries in 1975-1995 tends to confirm these positive effects....

JEL Classification: E52, O11, O41