Does the Global Financial Crisis Matter for the Macro Economic Performance of Inflation Targeting in Advanced and Developing Countries?: A Panel Study

Assoc. Prof. Dr. Metin Özdemir; Asst. Prof. Dr. Selim Tüzüntürk

doi:10.18037/ausbd.390332

Does the Global Financial Crisis Matter for the Macro Economic Performance of Inflation Targeting in Advanced and Developing Countries?: A Panel Study

Öz

Inflation targeting has come under sharp attack in the aftermath of the global financial crisis. In this paper we compare the macroeconomic performances of advanced and developing inflation targeting countries before and after the global financial crisis. Using a panel data methodology, we assess the effectiveness of the inflation targeting framework in both country groups when confronting a serious shock. Our results demonstrate that developing inflation targeting countries seem to have performed better in handling the global financial crisis and to have outperformed their advanced peers in the aftermath of the crisis. We argue that the performance of developing inflation targeting countries has arisen from an inflation targeting framework and countercyclical fiscal policy. The global financial crisis also reveals that price stability is not enough to secure financial stability and growth. The main issue for the future of inflation targeting is to incorporate financial stability.

Anahtar Kelimeler

Inflation Targeting,Global Financial Crisis,Macroeconomic Performance

Kaynakça

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Ayrıntılar

Birincil Dil

İngilizce

Konular

-

Bölüm

Araştırma Makalesi

Yazarlar

Assoc. Prof. Dr. Metin Özdemir
Türkiye

Asst. Prof. Dr. Selim Tüzüntürk
Türkiye

Yayımlanma Tarihi

19 Ekim 2016

Gönderilme Tarihi

11 Ocak 2015

Kabul Tarihi

24 Aralık 2015

Yayımlandığı Sayı

Yıl 2016 Cilt: 16 Sayı: 3

DOI

https://doi.org/10.18037/ausbd.390332

IZ

https://izlik.org/JA66LU78BC

Kaynak Göster

RIS / Bibtex

APA

Özdemir, A. P. D. M., & Tüzüntürk, A. P. D. S. (2016). Does the Global Financial Crisis Matter for the Macro Economic Performance of Inflation Targeting in Advanced and Developing Countries?: A Panel Study. Anadolu Üniversitesi Sosyal Bilimler Dergisi, 16(3), 35-50. https://doi.org/10.18037/ausbd.390332

AMA

1.Özdemir APDM, Tüzüntürk APDS. Does the Global Financial Crisis Matter for the Macro Economic Performance of Inflation Targeting in Advanced and Developing Countries?: A Panel Study. AÜSBD. 2016;16(3):35-50. doi:10.18037/ausbd.390332

Chicago

Özdemir, Assoc. Prof. Dr. Metin, ve Asst. Prof. Dr. Selim Tüzüntürk. 2016. “Does the Global Financial Crisis Matter for the Macro Economic Performance of Inflation Targeting in Advanced and Developing Countries?: A Panel Study”. Anadolu Üniversitesi Sosyal Bilimler Dergisi 16 (3): 35-50. https://doi.org/10.18037/ausbd.390332.

EndNote

Özdemir APDM, Tüzüntürk APDS (01 Ekim 2016) Does the Global Financial Crisis Matter for the Macro Economic Performance of Inflation Targeting in Advanced and Developing Countries?: A Panel Study. Anadolu Üniversitesi Sosyal Bilimler Dergisi 16 3 35–50.

IEEE

[1]A. P. D. M. Özdemir ve A. P. D. S. Tüzüntürk, “Does the Global Financial Crisis Matter for the Macro Economic Performance of Inflation Targeting in Advanced and Developing Countries?: A Panel Study”, AÜSBD, c. 16, sy 3, ss. 35–50, Eki. 2016, doi: 10.18037/ausbd.390332.

ISNAD

Özdemir, Assoc. Prof. Dr. Metin - Tüzüntürk, Asst. Prof. Dr. Selim. “Does the Global Financial Crisis Matter for the Macro Economic Performance of Inflation Targeting in Advanced and Developing Countries?: A Panel Study”. Anadolu Üniversitesi Sosyal Bilimler Dergisi 16/3 (01 Ekim 2016): 35-50. https://doi.org/10.18037/ausbd.390332.

JAMA

1.Özdemir APDM, Tüzüntürk APDS. Does the Global Financial Crisis Matter for the Macro Economic Performance of Inflation Targeting in Advanced and Developing Countries?: A Panel Study. AÜSBD. 2016;16:35–50.

MLA

Özdemir, Assoc. Prof. Dr. Metin, ve Asst. Prof. Dr. Selim Tüzüntürk. “Does the Global Financial Crisis Matter for the Macro Economic Performance of Inflation Targeting in Advanced and Developing Countries?: A Panel Study”. Anadolu Üniversitesi Sosyal Bilimler Dergisi, c. 16, sy 3, Ekim 2016, ss. 35-50, doi:10.18037/ausbd.390332.

Vancouver

1.Assoc. Prof. Dr. Metin Özdemir, Asst. Prof. Dr. Selim Tüzüntürk. Does the Global Financial Crisis Matter for the Macro Economic Performance of Inflation Targeting in Advanced and Developing Countries?: A Panel Study. AÜSBD. 01 Ekim 2016;16(3):35-50. doi:10.18037/ausbd.390332