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Monetary Policy Transmission and Targeting Mechanisms in Six MENA Countries

In: Inflation Targeting in MENA Countries

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  • Simon Neaime

Abstract

Since the early 1990s some industrialised economies have implemented a monetary policy regime known as inflation targeting (IT). This shift was justified by the difficulties posed by targeting the nominal exchange rate, or in some instances money supply. At the same time, the move paved the way to an enhanced record in controlling inflation, and to monetary policies that were more independent, transparent and effective. Given the very encouraging experience of developed countries, a number of Middle Eastern and North African (MENA) countries have decided recently to adopt price stability and IT as either an explicit or an implicit monetary policy objective. One MENA country that has explicitly adopted IT as its main monetary policy goal is Turkey.

Suggested Citation

  • Simon Neaime, 2011. "Monetary Policy Transmission and Targeting Mechanisms in Six MENA Countries," Palgrave Macmillan Books, in: Mongi Boughzala & David Cobham (ed.), Inflation Targeting in MENA Countries, chapter 5, pages 100-131, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-31656-0_5
    DOI: 10.1057/9780230316560_5
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    Cited by:

    1. Sanchita Mukherjee & Rina Bhattacharya, 2015. "Do the Keynesian monetary transmission mechanisms work in the MENA region?," Empirical Economics, Springer, vol. 48(3), pages 969-982, May.
    2. Ghosh, Saibal, 2017. "Does central bank governors term in office matter for macroprudential policies? Evidence from MENA banks," Research in International Business and Finance, Elsevier, vol. 40(C), pages 34-51.

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