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This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated … with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of … of inflation; provides a synthesis of policy responses taken against the background of the conflicting objectives and …
Persistent link: https://www.econbiz.de/10012677694
Inflation in low-income countries is often high and volatile, driven by external shocks. In addition, inflation in … stability. We estimate the drivers of inflation in Guinea since the early 2000s, a period in which the country suffered major … shocks from pandemics, commodity price movements, and multiple military coups, and during which inflation averaged 12 percent …
Persistent link: https://www.econbiz.de/10015059498
The growth literature has had problems explaining the ""sub-Saharan African growth dummy"" in cross-country regressions. Instead of taking the usual approach of focusing on long-run growth and assuming that sub-Saharan countries have homogenous parameters in growth regressions, we concentrate...
Persistent link: https://www.econbiz.de/10012677469
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Persistent link: https://www.econbiz.de/10012691037
Persistent link: https://www.econbiz.de/10012691094
Could a West African monetary union (either of the non-CFA countries, or all ECOWAS members) be an effective "agency of restraint" on fiscal policies? We discuss how monetary union could affect fiscal discipline and the arguments for explicit fiscal restraints considered in the European Monetary...
Persistent link: https://www.econbiz.de/10005599504
Applying techniques of clustering analysis to a set of variables suggested by the convergence criteria and the theory of optimal currency areas, this paper looks for country homogeneities to assess membership in the existing and proposed monetary unions of the broader west African region. Our...
Persistent link: https://www.econbiz.de/10005604792
The growth literature has had problems explaining the "sub-Saharan African growth dummy" in cross-country regressions. Instead of taking the usual approach of focusing on long-run growth and assuming that sub-Saharan countries have homogenous parameters in growth regressions, we concentrate our...
Persistent link: https://www.econbiz.de/10005605430
ECOWAS monetary unions. We conclude that monetary union with Nigeria would not be in the interests of other ECOWAS countries …, unless it were accompanied by effective discipline over Nigeria's fiscal policies. …
Persistent link: https://www.econbiz.de/10005825633