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Why Did Southeastern European Countries Experience Low Inflation Rates in the Beginning of This Century?

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  • Hiroyuki Yamada
  • Gerwin Bell

Abstract

In the last decade, the inflation rates of Southeastern European (SEE) countries - Albania, Bosnia and Herzegovina, Croatia, Macedonia, Montenegro, and Serbia - have been more comparable to those in the euro area than to those in otherwise similar emerging economies; the only exception is Serbia. These low inflation rates can only partly be explained by initial price levels. In addition, the exchange rate regime is of paramount importance. Our analysis also explores additional differences between SEE and other regions

Suggested Citation

  • Hiroyuki Yamada & Gerwin Bell, 2012. "Why Did Southeastern European Countries Experience Low Inflation Rates in the Beginning of This Century?," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 9(2), pages 229-246, August.
    • Handle: RePEc:liu:liucej:v:9:y:2012:i:2:p:229-246
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    inflation; price convergence; exchange rate regime; Southeastern Europe;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • F3 - International Economics - - International Finance
    • F15 - International Economics - - Trade - - - Economic Integration

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