Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. European I Department, issuing body.
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| ISBN: | 1283561778
9781283561778
1451898118
9781451898118
146239938X
9781462399383
1452708878
9781452708874
9786613874221
6613874221
9781451948585
1451948581
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| ISSN: | 2227-8885
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| Notes: | Includes bibliographical references (page 34).
Restrictions unspecified
Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Inflation and money demand developments in Albania during 1993-97 took place in the context of a dramatic transition to a market economy, marked by substantial changes in institutional structures and in the policy-making environment. During 1993-95, significant progress was made in economic stabilization: inflation was brought down from near hyperinflation levels, real output grew rapidly, and reserves were built up to a comfortable level (Table 1, Figure 1). The stabilization effort was based on tight financial policies: the budget deficit was reduced substantially and monetary management was prudent. With the economy's growing import needs financed by a large volume of remittances and generous foreign aid, Albania's floating exchange rate moved within a small band over the three-year period, a feature that continued during 1996. This stability in the policy environment and the favorable outcome may have formed the basis for a decline in inflationary expectations and stable exchange rate expectations, making for stable relationships between the price level, money, and the exchange rate.
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| Other form: | Print version: Kalra, Sanjay. Inflation and money demand in Albania. [Washington, D.C.] : International Monetary Fund, European I Department, ©1998
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| Standard no.: | 10.5089/9781451898118.001
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