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I Executive Summary

I Executive Summary »

Source: The Role of the Exchange Rate in Inflation-Targeting Emerging Economies : Targeting Emerging Economies

Series: Occasional Papers

Author(s): Anna Nordstrom , Scott Roger , Mark Stone , Seiichi Shimizu , Turgut Kisinbay , and Jorge Restrepo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 November 2009

ISBN: 9781589067967

Keywords: Developing countries, Central bank role, Emerging markets, Exchange rates, Inflation targeting, exchange rate, foreign exchange, inflation, monetary policy

The exchange rate plays a more important role in monetary policy for emerging economies that have adopted inflation targeting than for their advanced economy counterparts. Inflation-targeting emerging econom...

I Introduction

I Introduction »

Source: The Macroeconomics of Scaling Up Aid : Lessons from Recent Experience

Series: Occasional Papers

Author(s): Andrew Berg , Mumtaz Hussain , Shaun Roache , Amber Mahone , Tokhir Mirzoev , and Shekhar Aiyar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 March 2007

ISBN: 9781589065918

Keywords: Absorptive capacity, exchange rate, foreign exchange, inflation, real exchange rate, monetary policy

Aid facilitates a transfer of resources from donor to recipient countries that enables the recipients to increase consumption and investment. It thus presents an opportunity to reduce poverty, increase the s...

II Conceptual Framework and Its Application to Five Countries

II Conceptual Framework and Its Application to Five Countries »

Source: The Macroeconomics of Scaling Up Aid : Lessons from Recent Experience

Series: Occasional Papers

Author(s): Andrew Berg , Mumtaz Hussain , Shaun Roache , Amber Mahone , Tokhir Mirzoev , and Shekhar Aiyar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 March 2007

ISBN: 9781589065918

Keywords: Absorptive capacity, exchange rate, foreign exchange, inflation, real exchange rate, monetary policy

This chapter develops an analytical framework for examining policy responses to a surge in aid inflows, summarizes the evidence from a sample of five low-income countries, and seeks out general lessons that...

II Introduction

II Introduction »

Source: The Role of the Exchange Rate in Inflation-Targeting Emerging Economies : Targeting Emerging Economies

Series: Occasional Papers

Author(s): Anna Nordstrom , Scott Roger , Mark Stone , Seiichi Shimizu , Turgut Kisinbay , and Jorge Restrepo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 November 2009

ISBN: 9781589067967

Keywords: Developing countries, Central bank role, Emerging markets, Exchange rates, Inflation targeting, exchange rate, foreign exchange, inflation, monetary policy

The exchange rate plays a larger role in monetary policy for inflation-targeting emerging economies than for inflation-targeting advanced economies. Inflation-targeting emerging economies have less flexible...

III Ethiopia

III Ethiopia »

Source: The Macroeconomics of Scaling Up Aid : Lessons from Recent Experience

Series: Occasional Papers

Author(s): Andrew Berg , Mumtaz Hussain , Shaun Roache , Amber Mahone , Tokhir Mirzoev , and Shekhar Aiyar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 March 2007

ISBN: 9781589065918

Keywords: Absorptive capacity, exchange rate, foreign exchange, inflation, real exchange rate, monetary policy

The Derg regime, a political dictatorship employing socialist central planning, held sway in Ethiopia from 1974 until its overthrow in 1991. After the totalitarian regime fell, the Ethiopian authorities impl...

III Why the Exchange Rate Plays a Large Role in Emerging Economies

III Why the Exchange Rate Plays a Large Role in Emerging Economies »

Source: The Role of the Exchange Rate in Inflation-Targeting Emerging Economies : Targeting Emerging Economies

Series: Occasional Papers

Author(s): Anna Nordstrom , Scott Roger , Mark Stone , Seiichi Shimizu , Turgut Kisinbay , and Jorge Restrepo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 November 2009

ISBN: 9781589067967

Keywords: Developing countries, Central bank role, Emerging markets, Exchange rates, Inflation targeting, exchange rate, foreign exchange, inflation, monetary policy

This section addresses why the exchange rate plays a more important policy and operational role for emerging economies than for advanced economies. In short, the channels between the exchange rate and econom...

IV Different Roles for the Exchange Rate and the Policy Trade-Offs

IV Different Roles for the Exchange Rate and the Policy Trade-Offs »

Source: The Role of the Exchange Rate in Inflation-Targeting Emerging Economies : Targeting Emerging Economies

Series: Occasional Papers

Author(s): Anna Nordstrom , Scott Roger , Mark Stone , Seiichi Shimizu , Turgut Kisinbay , and Jorge Restrepo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 November 2009

ISBN: 9781589067967

Keywords: Developing countries, Central bank role, Emerging markets, Exchange rates, Inflation targeting, exchange rate, foreign exchange, inflation, monetary policy

This section uses a model-based approach to evaluate the performance of different inflation-targeting approaches. 9 First, a taxonomy of inflation-targeting approaches is develope...

IV Ghana

IV Ghana »

Source: The Macroeconomics of Scaling Up Aid : Lessons from Recent Experience

Series: Occasional Papers

Author(s): Andrew Berg , Mumtaz Hussain , Shaun Roache , Amber Mahone , Tokhir Mirzoev , and Shekhar Aiyar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 March 2007

ISBN: 9781589065918

Keywords: Absorptive capacity, exchange rate, foreign exchange, inflation, real exchange rate, monetary policy

Ghana’s economy has performed well in recent years compared with its regional peers. Per capita GDP growth averaged 1.6 percent annually in the 1990s. After a period of economic volatility around the turn of...

IX Case Studies in the Role of the Exchange Rate in Inflation-Targeting Emerging Economies

IX Case Studies in the Role of the Exchange Rate in Inflation-Targeting Emerging Economies »

Source: The Role of the Exchange Rate in Inflation-Targeting Emerging Economies : Targeting Emerging Economies

Series: Occasional Papers

Author(s): Anna Nordstrom , Scott Roger , Mark Stone , Seiichi Shimizu , Turgut Kisinbay , and Jorge Restrepo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 November 2009

ISBN: 9781589067967

Keywords: Developing countries, Central bank role, Emerging markets, Exchange rates, Inflation targeting, exchange rate, foreign exchange, inflation, monetary policy

This section chronicles exchange rate management practices of selected inflation-targeting emerging economies and emerging economies with other anchors. The case studies focus on recent episodes involving te...

The Macroeconomics of Scaling Up Aid
			: Lessons from Recent Experience

The Macroeconomics of Scaling Up Aid : Lessons from Recent Experience »

Series: Occasional Papers

Author(s): Andrew Berg , Mumtaz Hussain , Shaun Roache , Amber Mahone , Tokhir Mirzoev , and Shekhar Aiyar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 March 2007

DOI: http://dx.doi.org/10.5089/9781589065918.084

ISBN: 9781589065918

Keywords: Absorptive capacity, exchange rate, foreign exchange, inflation, real exchange rate, monetary policy

This study analyzes key issues associated with large increases in aid, including absorptive capacity, Dutch disease, and inflation. The authors develop a framework that emphasizes the different roles of monetary an...