The Disappearing Openness-Inflation Relationship PDF Download

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The Disappearing Openness-Inflation Relationship

The Disappearing Openness-Inflation Relationship PDF Author: Mr.M. F. Bleaney
Publisher: International Monetary Fund
ISBN: 1451857799
Category : Business & Economics
Languages : en
Pages : 17

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Book Description
The robust negative correlation between openness and inflation found in cross-country data for the 1970s and 1980s has disappeared in the 1990s. There is now a strong negative correlation of inflation with per capita GDP, as higher-income countries have achieved significant disinflation not emulated by lower-income countries. Since 1973, the most consistent finding is that floating exchange rate regimes are associated with inflation rates at least 10 percent a year higher than pegged exchange rate regimes, after allowing for other factors. There is also a consistent positive correlation between land area and inflation.