Establishing Monetary Stability in Emerging Market Economies

Name: Establishing Monetary Stability in Emerging Market Economies
Brand: Taylor & Francis

Taylor & Francis

There has been fierce debate about the optimal sequencing of economic reforms in emerging market economies. Many economists argue that for market-oriented systems to operate effectively, a reasonable degree of monetary stability is necessary. Rampant inflation, a common challenge for emerging economies, greatly reduces the chances that market-oriented reforms will be successful. In this comprehensive volume, a group of policy-oriented economists from North America, Europe, and the former Soviet Union explore the causes of monetary instability in reforming economies and evaluate alternative institutional mechanisms designed to reduce inflationary pressures. Considering the latest theoretical and empirical research\u2013as well as the experiences of former Communist countries, including Russia and the erstwhile Soviet republics\u2013the contributors view inflation as a political issue and make a case for the creation of strong political institutions. They argue that although governmenth