Inflation Dynamics in Kazakstan
December 1, 1995
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Summary
In January 1992, Kazakstan initiated a reform program to move toward market-determined prices. The price liberalization process was characterized by large relative price shifts and an increase in the overall price level toward those observed in market economies. The paper shows how the piecemeal manner in which prices were liberalized resulted in strong relative price variability over a prolonged period of time, against a background of high inflation. Convergence toward international relative and absolute price levels has progressed but is not complete, with prices for energy and services in particular still below market economy level.
Subject: Food prices, Inflation, Price adjustments, Price controls, Price structures, Prices, Producer prices
Keywords: depreciation cycle, Inflation, Kazak government, Kazak inflation, Kazak tenge, Kazakhstan, price, Price adjustments, Price controls, price liberalization, Price structures, Producer prices, WP
Pages:
35
Volume:
1995
DOI:
Issue:
140
Series:
Working Paper No. 1995/140
Stock No:
WPIEA1401995
ISBN:
9781451856088
ISSN:
1018-5941
