Factors leading to inflation targeting - the impact of adoption

Anna Samarina and Jan-Egbert Sturm

Applied Economics Letters, 2014, vol. 21, issue 13, 918-923

Abstract: This article examines how the analysis of inflation targeting (IT) adoption is affected by allowing for a structural change after adoption, using panel probit models for 60 countries over the period 1985 to 2008. Our findings suggest that there is a structural change after IT adoption. Including the post-adoption period when estimating the factors of IT adoption leads to biased results when interested in the question as of what drives countries' decision to adopt IT.

Date: 2014
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DOI: 10.1080/13504851.2014.899661

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