Inflation Targeting in MENA Countries: An Unfinished Journey by Mongi Boughzala, D. Cobham

By Mongi Boughzala, D. Cobham

This quantity assesses the present kingdom of play for heart East and North African nations, within the mild of wider paintings on inflation focusing on, and offers classes from the evolution of economic coverage in Europe.

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Mishkin and K. Schmidt-Hebbel (eds), Monetary Policy under Inflation Targeting, Santiago: Banco Central de Chile. Bernanke, B. and Gertler, M. (1999), 'Monetary policy and asset price volatility', in New challenges for monetary policy: a symposium sponsored by the Federal Reserve Bank of Kansas City, Federal Reserve Bank of Kansas City Bernanke, B. and Gertler, M. ' American Economic Review, 91(2): 253-7. , Franta, M. and Strasky, ]. (2011), 'Monetary policy strategies and exchange rate regimes on the southern shore of the Mediterranean developments and prospects', in D.

European Central Bank (2004), The Monetary Policy of the ECB, second edition. , Goldfajn, I. and Minella, A. (2003), 'Inflation targeting in emerging market economies', National Bureau of Economic Research, working paper no. 10019. Gorton, G. (1988), 'Banking panics and business cycles', Oxford Economic Papers, 40: 751-81. ', World Economic Outlook, September 2006, Chapter IV. IMF (2010), Regional Economic Outlook: Middle East and Central Asia, May. , Schnabl, G. and Schobert, F. (2010), 'Inflation targeting by debtor central banks in emerging market economies', CESifo working paper no.

3 describes overall financial structures in MENA countries, distinguishing banking and non-banking sectors, and discusses the relative situation of Egypt, Morocco and Tunisia in the broader regional context. 4 provides a brief analysis of key financial stability challenges in MENA countries, again with a main focus on Egypt, Morocco and Tunisia. 5 concludes. 2 Why does financial depth and soundness matter for inflation targeting? A safe and sound financial system is widely seen as a necessary condition for the success of an IT regime.

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