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Inflation targeting in the world economy and in Russia

Author

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  • Boris A. Zamaraev
  • Anna M. Kiyutsevskaya

Abstract

The authors, analyzing features of realization of monetary policy under inflation targeting, show that its application and evolution are based on the objective reasons related to a decrease of consumer prices growth rates all over the world and an increase of the integration of the world economy. It led to the ineffectiveness of other monetary policy regimes in open economies. It is true also for the Russian economy that has passed the way from financial mechanisms of centralized economy to inflation targeting. Its approaches and instruments have been adjusted in accordance with Russian realities. The authors show that application of inflation targeting regime in Russia along with other measures of macroeconomic policy have become one of the elements of the system of maintaining financial stability after the 2014 currency crisis.

Suggested Citation

  • Boris A. Zamaraev & Anna M. Kiyutsevskaya, 2019. "Inflation targeting in the world economy and in Russia," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 6.
    • Handle: RePEc:nos:voprec:y:2019:id:2255
    DOI: 10.32609/0042-8736-2019-6-5-29
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    Cited by:

    1. Victoria P. Litvinets, 2023. "Inflation Targeting and Economic Growth in Developed and Developing Countries: Evaluation of the Policy Effectiveness Using CS-ARDL Approach," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 22(4), pages 814-833.

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