Article1989

The Monetarist Explanation of Inflation: The Experience of Six African Countries

30 citations0/0 files storedJournal of Economic Studies

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Monetary Policy and Economic Impact Economic Theory and Policy Unemployment and Economic Growth

Abstract

The monetarist model of inflation is tested with quarterly data over the period 1960‐1983 from six African countries: Egypt, Ghana, Morocco, Nigeria, Sudan and Tunisia. The role of foreign factors in the inflationary process is examined in the model, the lag length is determined, the issue of causality is addressed and structural stability is tested. The empirical results are, in general, consistent with the monetarist explanation of inflation.

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References

1969Investigating Causal Relations by Econometric Models and Cross-spectral Methods 2010Investigating Causal Relations by Econometric Models and Cross-Spectral Methods 1969Fitting autoregressive models for prediction 1981Autoregressive modelling and money-income causality detection 1981Demand for money in open economies 1957A Model Explaining the Pareto Distribution of Wealth 1974The Dynamics of Inflation in Latin America, 1950-1969 1978Government Deficits and the Inflationary Process in Developing Countries (Deficits publics et processus inflationniste dans les pays en developpement) (Los deficit publicos y el proceso inflacionario en los paises en desarrollo)

Cited by

1990Monetary policy in Kenya 1997Dynamics of inflation in Sub-Saharan Africa: the role of foreign inflation, official and parallel market exchange rates, and monetary growth

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