Abstract
Most fundamental macroeconomic objective of the most other countries, as well as the Kyrgyz Republic, is to sustain low inflation rates together with high economic growth. Recently, the relationships between inflation and economic growth have been hotly debated. These works investigate relationship between inflation and economic growth. Ultimately, it has been tested whether a meaningful relationship is held in the Kyrgyz Republic. The considered period consists of 10 years (1995-2005). Regression for economic growth has been used with Kumtor and without Kumtor, because influence of activities of the gold mining company is significant and can “wipe off” influences of other macroeconomic factors.
Keywords
References
- Akaev, A. (2000), “Transitional Economics from the Point of View of the Physicist”, <http://www.mirkin.ru/_docs/book0306_028.pdf>, 29.12.2006.
- Baro, Robert J. (1995), “Inflation and Economic Growth”, NBER Working Paper Series, #5326, <http://ideas.repec.org/p/nbr/nberwo/5326.html>, 17.01.2007.
- BP Statistical Review on World Energy, <http://www.bp.com/statisticalreview>, 27.08.2007.
- Brash, Donald T. (1997), “The new inflation target, and New Zealanders’ expectations about inflation and growth”, <http://www.rbnz.govt.nz/speeches/0041771.html>, 23.12.2006.
- Bruno, M. and W. Easterly (1995), “Inflation Crisis and Long-Run Growth”, NBER Working Paper Series, #5209.
- Burdekin, R.C.K. (2000), “When Does Inflation Hurt Economic Growth?”, Working papers in economics, <http://ideas.repec.org/a/eee/jmacro/v26y2004i3p519-532.html>, 13.02.2007.
- Chernov, Y. (2005), “Inflation as target and mean of economic policy”, <http://www.transport.ru/2_period/min_econ/N3-496/infl.htm>, 15.01.2007.
- Gokal, V. and S. Hanif (2004), “Relationship between Inflation and Economic Growth”, Working Paper (December 2004), <http://www.reservebank.gov.fj/docs/2004_04_wp.pdf>, 08.03.2007.
- National Bank of the Kyrgyz Republic, <www.nbkr.kg/economy/statistics/175.htm>, 17.05.2007.
- National Statistical Committee, <www.stat.kg/country/statistics/185.htm>, 12.04.2007.
- NBKR, Annual Report, 2005.
- Polterovich, V.M. (2006), “Decrease of Inflation Shouldn’t be Main Target of Economic Policy of the Russian Government”, Memorandum to the Government, 02.04.2006, <http://www.cemi.rssi.ru/rus/publicate/e-pubs/polterov/2006-1.pdf>, 20.04.2007.
- Stiglitz, J.E, and D. Ellerman (2000), “Macro and micro strategies for Russia”, World Bank, Working Paper, <http://rusref.nm.ru/indexpub173.htm>, 20.12.2006.
- Uliukaev A.V. (2006), “Monetary policy of Russia: topical aspects”. Money and Credit #5 p. 3.
Abstract
Most fundamental macroeconomic objective of the most other countries, as well as the Kyrgyz Republic, is to sustain low inflation rates together with high economic growth. Recently, the relationships between inflation and economic growth have been hotly debated. These works investigate relationship between inflation and economic growth. Ultimately, it has been tested whether a meaningful relationship is held in the Kyrgyz Republic. The considered period consists of 10 years (1995-2005). Regression for economic growth has been used with Kumtor and without Kumtor, because influence of activities of the gold mining company is significant and can “wipe off” influences of other macroeconomic factors.
Keywords
References
- Akaev, A. (2000), “Transitional Economics from the Point of View of the Physicist”, <http://www.mirkin.ru/_docs/book0306_028.pdf>, 29.12.2006.
- Baro, Robert J. (1995), “Inflation and Economic Growth”, NBER Working Paper Series, #5326, <http://ideas.repec.org/p/nbr/nberwo/5326.html>, 17.01.2007.
- BP Statistical Review on World Energy, <http://www.bp.com/statisticalreview>, 27.08.2007.
- Brash, Donald T. (1997), “The new inflation target, and New Zealanders’ expectations about inflation and growth”, <http://www.rbnz.govt.nz/speeches/0041771.html>, 23.12.2006.
- Bruno, M. and W. Easterly (1995), “Inflation Crisis and Long-Run Growth”, NBER Working Paper Series, #5209.
- Burdekin, R.C.K. (2000), “When Does Inflation Hurt Economic Growth?”, Working papers in economics, <http://ideas.repec.org/a/eee/jmacro/v26y2004i3p519-532.html>, 13.02.2007.
- Chernov, Y. (2005), “Inflation as target and mean of economic policy”, <http://www.transport.ru/2_period/min_econ/N3-496/infl.htm>, 15.01.2007.
- Gokal, V. and S. Hanif (2004), “Relationship between Inflation and Economic Growth”, Working Paper (December 2004), <http://www.reservebank.gov.fj/docs/2004_04_wp.pdf>, 08.03.2007.
- National Bank of the Kyrgyz Republic, <www.nbkr.kg/economy/statistics/175.htm>, 17.05.2007.
- National Statistical Committee, <www.stat.kg/country/statistics/185.htm>, 12.04.2007.
- NBKR, Annual Report, 2005.
- Polterovich, V.M. (2006), “Decrease of Inflation Shouldn’t be Main Target of Economic Policy of the Russian Government”, Memorandum to the Government, 02.04.2006, <http://www.cemi.rssi.ru/rus/publicate/e-pubs/polterov/2006-1.pdf>, 20.04.2007.
- Stiglitz, J.E, and D. Ellerman (2000), “Macro and micro strategies for Russia”, World Bank, Working Paper, <http://rusref.nm.ru/indexpub173.htm>, 20.12.2006.
- Uliukaev A.V. (2006), “Monetary policy of Russia: topical aspects”. Money and Credit #5 p. 3.
Details
| Primary Language | English |
|---|---|
| Journal Section | Articles |
| Authors | |
| Publication Date | December 1, 2007 |
| Submission Date | December 12, 2014 |
| Published in Issue | Year 2007 Volume: 6 Issue: 6 |
