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An Econometric Analysis of Inflation in Sierra Leone

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  • Kallon, Kelfala M

Abstract

This paper is an econometric study of the inflationary process in Sierra Leone. Using data from the 1967:1-1987:4 period, the parameters of a reduced-form inflation equation from an open-economy IS-LM model were estimated for the Sierra Leonean economy. The results reject the monetarist assertion that velocity is constant and that a percentage change in the money supply leads to an equiproportionate change in the inflation rate in the short run. In the long run, however, the hypothesis that money-supply growth would lead to an equiproportionate increase in the price level could not be rejected. Additionally, the evidence suggests that part of Sierra Leone's inflation is imported from the rest of the world. On the other hand, international capital mobility is not a contributing factor to Sierra Leone's inflation problem. Copyright 1994 by Oxford University Press.

Suggested Citation

  • Kallon, Kelfala M, 1994. "An Econometric Analysis of Inflation in Sierra Leone," Journal of African Economies, Centre for the Study of African Economies, vol. 3(2), pages 199-230, October.
    • Handle: RePEc:oup:jafrec:v:3:y:1994:i:2:p:199-230
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    Cited by:

    1. Jane Mpapalika & Christopher Malikane, 2019. "The Determinants of Sovereign Risk Premium in African Countries," JRFM, MDPI, vol. 12(1), pages 1-20, February.
    2. Carlos Barros & Luis Gil-Alana, 2013. "Inflation Forecasting in Angola: A Fractional Approach," African Development Review, African Development Bank, vol. 25(1), pages 91-104.
    3. Mr. Kadima D. Kalonji & Jan Gottschalk & Mr. Ken Miyajima, 2008. "Analyzing Determinants of Inflation When There Are Data Limitation: The Case of Sierra Leone," IMF Working Papers 2008/271, International Monetary Fund.
    4. Hector Carcel & Luis A. Gil-Alana, 2018. "Inflation analysis in the Central American Monetary Council," Empirical Economics, Springer, vol. 54(2), pages 547-565, March.
    5. Emerson Abraham JACKSON & Mohamed JABBİE & Edmund TAMUKE & Augustine NGOMBU, 2020. "Adoption of Inflation Targeting in Sierra Leone: An Empirical Discourse," Journal of Economic Policy Researches, Istanbul University, Faculty of Economics, vol. 7(2), pages 21-50, July.
    6. Jackson, Emerson Abraham & Tamuke, Edmund, 2018. "Probability Forecast Using Fan Chart Analysis: A case of the Sierra Leone Economy," MPRA Paper 88853, University Library of Munich, Germany, revised 04 Sep 2018.
    7. Jackson, Emerson Abraham & Kamara, Purity & Kamara, Abdulsalam, 2022. "Determinants of Inflation in Sierra Leone," MPRA Paper 117278, University Library of Munich, Germany, revised Apr 2023.
    8. Hachicha, Ahmed & Lean Hooi Hooi, 2013. "Inflation, inflation uncertainty and output in Tunisia," Economics Discussion Papers 2013-1, Kiel Institute for the World Economy (IfW Kiel).
    9. Jackson, Emerson Abraham, 2020. "Importance of the Public Service in Achieving the UN SDGs," MPRA Paper 101806, University Library of Munich, Germany, revised 02 Jun 2020.
    10. JACKSON Emerson Abraham & TAMUKE Edmund & JABBIE Mohamed, 2019. "Disaggregated Short-Term Inflation Forecast (Stif) For Monetary Policy Decision In Sierra Leone," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 71(3), pages 31-53, November.
    11. Jabbie, Mohamed & Jackson, Emerson Abraham, 2020. "On the Validity of Purchasing Power Parity (PPP): The Case of Sierra Leone," MPRA Paper 110659, University Library of Munich, Germany, revised 05 Jun 2020.

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