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The Effects of Inflation Targeting for Financial Development
Staff Analytical Note 2019-21
Geoffrey R. Dunbar,
Amy (Qijia) Li
The adoption of inflation targeting (IT) by central banks leads to an increase of 10 to 20 percent in measures of financial development, with a lag. We also find evidence that the financial sector benefits of IT adoption were higher for early-adopting central banks.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Financial institutions,
Inflation targets,
Monetary policy transmission
JEL Code(s):
E,
E4,
E44,
E5,
E58