Inflation targeting and fiscal policy volatility: Evidence from developing countries

被引：6

作者：

Apeti, Ablam Estel ^{[1
,2
]}

Combes, Jean-Louis ^{[1
]}

Minea, Alexandru ^{[1
,3
,4
]}

机构：

[1] Univ Clermont Auvergne, Univ Orleans, LEO, F-45067 Orleans, France

[2] Univ Gottingen, Gottingen, Germany

[3] Univ Bucharest, Res Inst, Bucharest, Romania

[4] Carleton Univ, Dept Econ, Ottawa, ON, Canada

来源：

JOURNAL OF INTERNATIONAL MONEY AND FINANCE | 2024年 / 141卷

关键词：

Inflation targeting; Fiscal policy volatility; Impact assessment; Developing countries; EMERGING MARKET ECONOMIES; PROPENSITY SCORE; MACROECONOMIC POLICY; RULES; INSTITUTIONS; PERFORMANCE; DIFFERENCE; DISCRETION; MONETARY; ADOPTION;

D O I：

10.1016/j.jimonfin.2023.102996

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper studies the effect of inflation targeting (IT) on fiscal policy volatility. Using data for 83 developing countries over 1985-2020, estimations based on impact analysis methods reveal that IT adoption reduces fiscal policy volatility. This result is robust when using a wide set of alternative specifications related to additional control variables, different samples, alternative measures of the main variables, or alternative estimation methods. Consequently, contributing to the ongoing literature on fiscal policy volatility, our results suggest that reforms of the monetary policy management in the form of IT adoption may provide a useful policy for fighting fiscal discretion towards a reduction of fiscal policy volatility.

引用

页数：18

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