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The IMF and the policy of low inflation: A review of Article IV consultations for selected Asian developing countries

Ahmed Taneem Muzaffar and Anis Chowdhury
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Anis Chowdhury: United Nations Economic and Social Commission for Asia and the Pacific, Thailand

The Economic and Labour Relations Review, 2014, vol. 25, issue 3, 435-454

Abstract: Spearheaded by the International Monetary Fund (IMF), there has been a rethinking of macroeconomic policies, in particular with regard to targeting inflation at a very low level in the wake of 2008–2009 global economic crisis. We provide a content analysis of the IMF Staff Reports on Article IV consultation of 12 Asian developing countries during the period 2009–2010 in order to see whether that rethinking has been reflected in the IMF’s advice. The findings of this study reveal that the IMF continues with its prescription of achieving low inflationary environment irrespective of country-specific circumstances.

Keywords: Article IV consultation; developing Asia; growth–inflation relationship; IMF; monetary and fiscal policy (search for similar items in EconPapers)
JEL-codes: E31 E52 O11 O23 O53 (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1177/1035304614544272

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