Madagascar: Selected Issues and Statistical Annex
July 8, 1996
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This Selected Issues paper and Statistical Annex analyzes the inflation and monetary policy in Madagascar during the 1990s. The paper highlights that in 1995, Madagascar’s inflation performance was somewhat disappointing, although 12-month price increases slowed from 60 percent at end-1994 to 38 percent at end-1995. The paper provides selected stylized facts concerning money and prices. A simple model of price formation in a small open economy is presented. The paper also addresses issues in estimating long-term relationships, discusses the results, and presents a forecast for inflation in 1996.
Subject: Agroindustries, Banking, Commercial banks, Economic sectors, Financial institutions, Foreign exchange, Inflation, Monetary base, Money, Prices, Real exchange rates
Keywords: Agroindustries, broad money, broad money money supply, central bank, Commercial banks, CR, error-correction term, exchange rate, exchange rate fluctuation, Inflation, ISCR, Monetary base, opportunity cost, penalty rate, rate of inflation, Real exchange rates, repurchase facility rate
Pages:
87
Volume:
1996
DOI:
Issue:
059
Series:
Country Report No. 1996/059
Stock No:
1MDGEA0011996
ISBN:
9781451825213
ISSN:
1934-7685
