PROPOSALS FOR STRENGTHENING THE SARB'S INFLATION TARGETING REGIME |
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| Authors: | STAN A DU PLESSIS |
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| Institution: | Associate Professor, Department of Economics, University of Stellenbosch. This paper was written for the Economic Society of South Africa's bi-annual conference held in Somerset West, 17–19 September, 2003 and draws mainly on du Plessis (2003a). I am grateful to Malan Rietveld, Geoff Woglom, Ben Smit and two anonymous referees for helpful comments. They are not responsible for remaining errors. |
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| Abstract: | This paper proposes a set of criteria for efficient institutions derived form the New Institutional Economics literature and the IMF's Code of Good Practices on Transparency in Monetary and Financial Policie. These criteria are used to evaluate the institutional framework of South Africa's inflation targeting regime. A test for measuring the comprehensiveness of South Africa's inflation targeting regime is used to verify the results of the institutional evaluation. Finally, a matrix of proposed institutional reforms is constructed to address weaknesses identified by the institutional evaluation. |
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| Keywords: | B520 E500 E520 E580 E600 E610 |
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