Lessons From High Inflation Epidsodes for Stabilizing the Economy in Zimbabwe:
Zimbabwe has currently the highest rate of inflation in the world (an annual rate of 1,730 percent in February, 2007). The high rates of inflation have contributed to the contraction of the economy, which has declined by about 30 percent since 1999. This paper examines the stabilization experience o...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2007
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 07/99 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | Zimbabwe has currently the highest rate of inflation in the world (an annual rate of 1,730 percent in February, 2007). The high rates of inflation have contributed to the contraction of the economy, which has declined by about 30 percent since 1999. This paper examines the stabilization experience of countries that experienced similar rates of inflation (above 1,000 percent) during 1980-2005 and draws lessons for Zimbabwe. First, with appropriate stabilization policies, the fall in inflation can be very rapid and output normally recovers within the first year or two of stabilization. Second, while reforms need to be comprehensive, a strong upfront fiscal consolidation, including elimination of quasi-fiscal activities, is a critical element of a successful stabilization program. Third, although stabilization itself can be done without significant external financing in the first year, most countries benefited from external policy advice and technical support, including from the IMF, during stabilization and from an increase in financial assistance in subsequent years |
| Beschreibung: | 1 Online-Ressource (16 p) |
| ISBN: | 1451866631 9781451866636 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:28Z |
| indexdate | 2024-07-10T09:35:36Z |
| institution | BVB |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Clausen, Jens R. Verfasser aut Lessons From High Inflation Epidsodes for Stabilizing the Economy in Zimbabwe Clausen, Jens R Washington, D.C International Monetary Fund 2007 1 Online-Ressource (16 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 07/99 Zimbabwe has currently the highest rate of inflation in the world (an annual rate of 1,730 percent in February, 2007). The high rates of inflation have contributed to the contraction of the economy, which has declined by about 30 percent since 1999. This paper examines the stabilization experience of countries that experienced similar rates of inflation (above 1,000 percent) during 1980-2005 and draws lessons for Zimbabwe. First, with appropriate stabilization policies, the fall in inflation can be very rapid and output normally recovers within the first year or two of stabilization. Second, while reforms need to be comprehensive, a strong upfront fiscal consolidation, including elimination of quasi-fiscal activities, is a critical element of a successful stabilization program. Third, although stabilization itself can be done without significant external financing in the first year, most countries benefited from external policy advice and technical support, including from the IMF, during stabilization and from an increase in financial assistance in subsequent years Online-Ausg Coorey, Sharmini Sonstige oth Funke, Norbert Sonstige oth Muñoz, Sònia Sonstige oth Ould-Abdallah, Bakar Sonstige oth http://elibrary.imf.org/view/IMF001/04270-9781451866636/04270-9781451866636/04270-9781451866636.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Clausen, Jens R. Lessons From High Inflation Epidsodes for Stabilizing the Economy in Zimbabwe |
| title | Lessons From High Inflation Epidsodes for Stabilizing the Economy in Zimbabwe |
| title_auth | Lessons From High Inflation Epidsodes for Stabilizing the Economy in Zimbabwe |
| title_exact_search | Lessons From High Inflation Epidsodes for Stabilizing the Economy in Zimbabwe |
| title_exact_search_txtP | Lessons From High Inflation Epidsodes for Stabilizing the Economy in Zimbabwe |
| title_full | Lessons From High Inflation Epidsodes for Stabilizing the Economy in Zimbabwe Clausen, Jens R |
| title_fullStr | Lessons From High Inflation Epidsodes for Stabilizing the Economy in Zimbabwe Clausen, Jens R |
| title_full_unstemmed | Lessons From High Inflation Epidsodes for Stabilizing the Economy in Zimbabwe Clausen, Jens R |
| title_short | Lessons From High Inflation Epidsodes for Stabilizing the Economy in Zimbabwe |
| title_sort | lessons from high inflation epidsodes for stabilizing the economy in zimbabwe |
| url | http://elibrary.imf.org/view/IMF001/04270-9781451866636/04270-9781451866636/04270-9781451866636.xml |
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