Is Low Inflation an Important Condition for High Growth?

Walter Stanners

Cambridge Journal of Economics, 1993, vol. 17, issue 1, 79-107

Abstract: Factual evidence for the seemingly universal belief that low price inflation is necessary for high GNP growth is curiously lacking, maybe even felt to be unnecessary. This paper takes what is thought to be all the, not very voluminous, postwar factual data that are relevant and treats this data in a number of ways to find whether any convincing demonstration of the truth of this belief is possible. The paper concludes that it is not. (c) 1993 Academic Press, Inc. Copyright 1993 by Oxford University Press.

Date: 1993
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