TY - BOOK ID - 84542749 TI - What Can Low-Income Countries Expect From Adopting Inflation Targeting? AU - Born, Alexandra. AU - Gemayel, Edward. AU - Jahan, Sarwat. PY - 2011 SN - 1463959974 1463997361 1283555832 9786613868282 1463973098 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Inflation targeting KW - Targeting, Inflation KW - Monetary policy KW - Econometric models. KW - Finance: General KW - Inflation KW - Money and Monetary Policy KW - Price Level KW - Deflation KW - Monetary Policy KW - Central Banks and Their Policies KW - General Financial Markets: General (includes Measurement and Data) KW - Monetary economics KW - Macroeconomics KW - Finance KW - Emerging and frontier financial markets KW - Monetary transmission mechanism KW - Monetary policy frameworks KW - Prices KW - Financial markets KW - Financial services industry KW - Ghana UR - https://www.unicat.be/uniCat?func=search&query=sysid:84542749 AB - Inflation targeting (IT) is a relatively new monetary policy framework for low-income countries (LICs). The limited number of LICs with an IT framework and the short time that has elapsed since the adoption of this framework explains why there are no previous empirical studies on the performance of IT in LICs. This paper has made a first attempt at filling this gap. It finds that inflation targeting appears to be associated with lower inflation and inflation volatility. At the same time, there is no robust evidence of an adverse impact on output. This may explain the appeal of IT for many LICs, where building credibility of monetary policy is difficult and minimizing output costs of reducing inflation is imperative for social and political reasons. ER -