Monetary Policy Transmission and Targeting Mechanisms in Six MENA Countries

Simon Neaime

Chapter 5 in Inflation Targeting in MENA Countries, 2011, pp 100-131 from Palgrave Macmillan

Abstract: Abstract Since the early 1990s some industrialised economies have implemented a monetary policy regime known as inflation targeting (IT). This shift was justified by the difficulties posed by targeting the nominal exchange rate, or in some instances money supply. At the same time, the move paved the way to an enhanced record in controlling inflation, and to monetary policies that were more independent, transparent and effective. Given the very encouraging experience of developed countries, a number of Middle Eastern and North African (MENA) countries have decided recently to adopt price stability and IT as either an explicit or an implicit monetary policy objective. One MENA country that has explicitly adopted IT as its main monetary policy goal is Turkey.

Keywords: Exchange Rate; Interest Rate; Monetary Policy; Central Bank; Real Exchange Rate (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-31656-0_5

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DOI: 10.1057/9780230316560_5

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