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dc.contributor.authorOcran, Mathew Kofi
dc.identifier.citationOcran, Mathew Kofi (2007) A modelling of Ghana's inflation experience : 1960-2003. AERC research paper 169, Nairobi : AERCen_GB
dc.description.abstractThe study sought to ascertain the key determinants of inflation in Ghana for the past 40 years. Stylized facts about Ghana's inflation experience indicate that since the country's exit from the West African Currency Board soon after independence, inflation management has been ineffective despite two decades of vigorous reforms. Using the Johansen cointegration test and an error correction model, the paper identified inflation inertia, changes in money and changes in Government of Ghana treasury bill rates, as well as changes in the exchange rate, as determinants of inflation in the short run. Of these, inflation inertia is the dominant determinant of inflation in Ghana. It is therefore suggested that to make treasury bill rates more effective as a nominal anchor, inflationary expectations ought to be reduced considerably.en_GB
dc.publisherAfrican Economic Research Consortiumen_GB
dc.relation.ispartofseriesAERC research paper;169
dc.subjectEconomic Developmenten_GB
dc.titleA modelling of Ghana's inflation experience : 1960-2003en_GB
dc.typeSeries paper (non-IDS)en_GB
dc.rights.holderAfrican Economic Research Consortiumen_GB

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