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Inflation Targeting and Economic Growth: Case of Albania

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  • Güngör Turan
  • Ornela Rajta

Abstract

The purpose of this paper is the impact of the variable "Inflation targeting" in Albanian economic growth over the years. The paper examines the role of inflation targeting on economic growth in Albania for the period 1991-2013, focusing briefly on the performance and the determinants of each of these indicators. The decrease or increase of the Albanian economy has many factors that influence its performance. Econometric tests developed in this paper, shows how this variable was stable and how it has affected the economic growth. Econometric analysis shows that inflation targeting effect economic growth but not the opposite. Inflation targeting and economic growth in Albania have a negative correlation.

Suggested Citation

  • Güngör Turan & Ornela Rajta, 2015. "Inflation Targeting and Economic Growth: Case of Albania," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 4, December.
    • Handle: RePEc:bjz:ajisjr:1376
    DOI: 10.5901/ajis.2015.v4n3s1p403
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    References listed on IDEAS

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    3. Frederic S. Mishkin & Adam S. Posen, 1997. "Inflation targeting: lessons from four countries," Economic Policy Review, Federal Reserve Bank of New York, vol. 3(Aug), pages 9-110.
    4. De Gregorio, Jose, 1993. "Inflation, taxation, and long-run growth," Journal of Monetary Economics, Elsevier, vol. 31(3), pages 271-298, June.
    5. Fischer, Stanley, 1993. "The role of macroeconomic factors in growth," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 485-512, December.
    6. Carl E. Walsh, 2009. "Inflation Targeting: What Have We Learned?," International Finance, Wiley Blackwell, vol. 12(2), pages 195-233, August.
    7. Miguel Sidrauski, 1967. "Inflation and Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 75(6), pages 796-796.
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