Inflation Targeting in MENA Countries An Unfinished Journey

This volume assesses the current state of play for Middle East and North African countries, in the light of wider work on inflation targeting, and provides lessons from the evolution of monetary policy in Europe.

Mongi Boughzala has a PhD from the University of Minnesota, USA, and is professor of Economics at the Universjty of Tunis El Manar,Tunisja. His current research and main interests are in monetary economics and labour economics. He has published articles and contributed to -books on trade, public economics, labour and monetary policy. He is a research fellow in the Economic Research Forum and active within the Femise network. David Cobham specialises in Monetary Policy. He has published in journals including Economic journal, Oxford Bulletin of Economics and Statistics, and Oxford Economic Papers. He is co-editor (with Ghassan Dibeh) of Money in the Middle East and North Africa: Monetary Policy Frameworks and Strategies (2011) and {with O. Eitrheim, S. Gerlach and J. Qvigstad) Twenty Years of Inflation Targeting: Lessons-Learned and Future Prospects (2010).

PART I: ISSUES AND CHALLENGES
Moving towards domestic monetary anchors – Are financial markets ready in the Mediterranean region?
Fiscal policy and macroeconomic stability in Mediterranean countries
Capital account liberalization, exchange rate flexibility, and monetary policy: issues and challenges
Monetary policy transmission and targeting mechanisms in the MENA region
Monetary transmission mechanisms: the credit vs. the interest rate channels
PART II: THE JOURNEY TOWARDS IT
From Bretton Woods to inflation targeting: financial change and monetary policy evolution in Europe
Explicit Inflation Targeting in Turkey: the reasons and the outcome
The evolution of monetary policy in Egypt: Is Egypt now ready for inflation targeting?
Preparations for the journey towards IT in Tunisia
Monetary policy and the journey towards inflation targeting in Morocco