Effects of Monetary and Import Price Changes on the Dynamics of Inflation in Six Asian Courtiers

Srinivasa Sundararajan
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Srinivasa Sundararajan: Department of Economics, University of Konstanz, Postal: Universitätsstraße 10 D-78464 Konstanz, http://www.uni-konstanz.de/

Economia Internazionale / International Economics, 1992, vol. 45, issue 3-4, 351-363

Abstract: This paper investigates the impact of monetary and import price changes on the domestic rate of inflation for each of six Asian developing countries: India, Korea, Malaysia, the Philippines, Thailand and. Sri Lanka. It also provides empirical tests of asymmetry between the effect of positive versus negative changes in import prices on the domestic rate of inflation. The results of regression estimates suggest various patterns. The results of the monetary model of inflation indicate that the monetary variables have a stronger and a more systematic impact on the rate of inflation than the structural model. In the structural model, changes in import prices are significant, which implies that inflation, indeed, seems to have been imported. We also find no evidence of an asymmetry in the effect of import price enhances on domestic price changes.

Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ecoint:0454

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