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The Impact of Inflation Targeting on Economic Growth in Non-Industrial Countries
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Hossein Asgharpur *   , Behzad Salmani , Alireza Jalili Marand |
| , asgharpurh@gmail.com |
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Abstract: (8459 Views) |
| Low inflation is the prime purpose of inflation targeting but if low inflation gained at the cost of low output growth, then inflation targeting may not consider as a successful policy. Based on an adaptive dynamic model, this study investigates the impact of inflation targeting on the growth rate in non-industrial countries during 1985-2010. The research sample consists of 18 countries which have adopted inflation targeting and 26 non-inflation-targeting countries as a control group. LSDVC, a dynamic panel estimator, employed to estimate the research model. The results show that inflation targeting has no significant impact of on the economic growth rate. |
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| Keywords: Inflation Targeting, Economic Growth Rate, Dynamic Panel Data, LSDVC Estimator |
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Full-Text [PDF 601 kb]
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Type of Study: Applicable |
Subject:
General
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