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Inflation dynamics in Kazakhstan

Mark De Broeck, Paula De Masi and Vincent Koen ()

The Economics of Transition, 1997, vol. 5, issue 1, 195-213

Abstract: In January 1992, Kazakhstan initiated a reform programme to move towards market-determined prices. The price liberalization process was characterized by large relative price shifts and an increase in the overall price level towards those observed in market economies. The paper shows how the piecemeal manner in which prices were liberalized resulted in strong relative price variability over a prolonged period of time, against a background of high inflation. Convergence towards international relative and absolute price levels has progressed but is not complete, with prices for energy and services in particular still below market economy levels. Copyright The European Bank for Reconstruction and Development, 1997.

Date: 1997
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Working Paper: Inflation Dynamics in Kazakstan (1995) Downloads
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