Abstract
The purpose of this chapter is to examine Inflation Targeting (IT) in the case of emerging countries by concentrating essentially on the case of Brazil. IT is a new monetary policy regime (see, for example, Bernanke and Mishkin, 1997) that has been adopted by a significant number of countries (see, for example, Sterne, 2002). Brazil adopted this economic policy framework in June 1999. While the focus of this chapter is on Brazil, we also examine the experience of other countries both for comparative purposes and for evidence of the extent of success of this ‘new’ economic policy by other IT countries. In addition, we compare the experience of Brazil with IT and with that of non-IT countries, and ask the question of whether it makes a difference in the fight against inflation whether a country has adopted IT or not.
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© 2007 Philip Arestis, Luiz Fernando de Paula, Fernando Ferrari-Filho
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Arestis, P., de Paula, L.F., Ferrari-Filho, F. (2007). Inflation Targeting in Emerging Countries: The Case of Brazil. In: Arestis, P., Saad-Filho, A. (eds) Political Economy of Brazil. Palgrave Macmillan, London. https://doi.org/10.1057/9780230390102_8
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DOI: https://doi.org/10.1057/9780230390102_8
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