Politiques de stabilisation en Europe de l'Est: ancrage par le change ou ciblage d'inflation ?

Sophie Brana and Stéphanie Prat

Mondes en développement, 2014, vol. n° 167, issue 3, 93-112

Abstract: The Central and Eastern European countries have used since the beginning of the transition of many monetary and exchange rate strategies to fight against inflation. One can find the full spectrum of regimes, from free floating, currency board, monetary anchors, inflation targeting, through crawling pegs or fluctuation bands. This article examines the impact of these strategies on the performance in terms of inflation for a panel of 14 Central and Eastern European countries. It appears that in early transition, the exchange rate peg has been the most effective way to break the inflationary dynamic. However, more recently, in a context of moderate inflation, inflation targeting strategies seem to be more appropriate.

Keywords: monetary policy; exchange rate regime; inflation targeting; transition economies; GMM system (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.cairn.info/load_pdf.php?ID_ARTICLE=MED_167_0093 (application/pdf)
http://www.cairn.info/revue-mondes-en-developpement-2014-3-page-93.htm (text/html)
free

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cai:meddbu:med_167_0093

Access Statistics for this article

More articles in Mondes en développement from De Boeck Université
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().