Explaining chronic inflation in Indonesia

Ross McLeod ()

Journal of Development Studies, 1997, vol. 33, issue 3, 392-410

Abstract: This paper describes and analyses Indonesia's frustrating experience with chronic inflation, and demonstrates that the cause of continuing moderately high inflation is excessive growth of base money. It examines the central bank's current target growth rates for narrow and broad money and bank lending, and argues instead in favour of a single target rate for base money as the key to bringing inflation under control.

Date: 1997
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DOI: 10.1080/00220389708422471

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