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The viability of a fully fledged inflation targeting regime in Egypt
Inflation targeting (IT), in simplistic terms, is a monetary policy regime that is based upon the commitment of a country’s monetary authority to meeting predetermined, quantitative targets for the annual rate of inflation. IT has attained popularity and widespread acclamation amongst policymakers i...
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AUC Knowledge Fountain
2018
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| _version_ | 1867613410273787904 |
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| access_status_str | Open Access |
| author | Farid, Sarah Samy |
| author_browse | Farid, Sarah Samy |
| author_facet | Farid, Sarah Samy |
| author_sort | Farid, Sarah Samy |
| collection | Thesis |
| dc_rights_str_mv | The author retains all rights with regard to copyright. The author certifies that written permission from the owner(s) of third-party copyrighted matter included in the thesis, dissertation, paper, or record of study has been obtained. The author further certifies that IRB approval has been obtained for this thesis, or that IRB approval is not necessary for this thesis. Insofar as this thesis, dissertation, paper, or record of study is an educational record as defined in the Family Educational Rights and Privacy Act (FERPA) (20 USC 1232g), the author has granted consent to disclosure of it to anyone who requests a copy. |
| description | Inflation targeting (IT), in simplistic terms, is a monetary policy regime that is based upon the commitment of a country’s monetary authority to meeting predetermined, quantitative targets for the annual rate of inflation. IT has attained popularity and widespread acclamation amongst policymakers in the international context over the past three decades. Since Egypt initiated a new economic and structural reform program supported by the Extended Fund Facility from the IMF in November 2016, the search for a new nominal anchor for the Egyptian economy has been underway. In this regard, the new objective seems to be a temporary switch to a monetary targeting regime in the short run, while moving towards the implementation of a full-fledged IT regime in the medium term. Against this background, the Central Bank of Egypt (CBE) recently released a draft law indicating its desire to transition towards IT. This paper aims to answer the question of whether or not Egypt is ready for the implementation of IT. I propose a twofold methodology based on an assessment of the institutional and technical framework currently in place in Egypt, combined with a comprehensive survey of the current international practices of 28 inflation-targeting countries to determine whether or not the Egyptian framework is adequate in meeting the basic preconditions for IT, and to identify the practical considerations that need to be taken into account if the CBE indeed decides to adopt an inflation targeting regime in the near future. |
| format | Thesis |
| id | oai:fount.aucegypt.edu:etds-1453 |
| institution | American University in Cairo (Egypt) |
| last_indexed | 2026-06-10T12:35:42.290Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from AUC Knowledge Fountain — bepress |
| publishDate | 2018 |
| publishDateRange | 2018 |
| publishDateSort | 2018 |
| publisher | AUC Knowledge Fountain |
| publisherStr | AUC Knowledge Fountain |
| record_format | dspace |
| source_str | AUC Knowledge Fountain — bepress |
| spelling | oai:fount.aucegypt.edu:etds-1453 The viability of a fully fledged inflation targeting regime in Egypt Farid, Sarah Samy Inflation targeting (IT), in simplistic terms, is a monetary policy regime that is based upon the commitment of a country’s monetary authority to meeting predetermined, quantitative targets for the annual rate of inflation. IT has attained popularity and widespread acclamation amongst policymakers in the international context over the past three decades. Since Egypt initiated a new economic and structural reform program supported by the Extended Fund Facility from the IMF in November 2016, the search for a new nominal anchor for the Egyptian economy has been underway. In this regard, the new objective seems to be a temporary switch to a monetary targeting regime in the short run, while moving towards the implementation of a full-fledged IT regime in the medium term. Against this background, the Central Bank of Egypt (CBE) recently released a draft law indicating its desire to transition towards IT. This paper aims to answer the question of whether or not Egypt is ready for the implementation of IT. I propose a twofold methodology based on an assessment of the institutional and technical framework currently in place in Egypt, combined with a comprehensive survey of the current international practices of 28 inflation-targeting countries to determine whether or not the Egyptian framework is adequate in meeting the basic preconditions for IT, and to identify the practical considerations that need to be taken into account if the CBE indeed decides to adopt an inflation targeting regime in the near future. 2018-06-01T07:00:00Z thesis application/pdf https://fount.aucegypt.edu/etds/454 https://fount.aucegypt.edu/context/etds/article/1453/viewcontent/auto_convert.pdf The author retains all rights with regard to copyright. The author certifies that written permission from the owner(s) of third-party copyrighted matter included in the thesis, dissertation, paper, or record of study has been obtained. The author further certifies that IRB approval has been obtained for this thesis, or that IRB approval is not necessary for this thesis. Insofar as this thesis, dissertation, paper, or record of study is an educational record as defined in the Family Educational Rights and Privacy Act (FERPA) (20 USC 1232g), the author has granted consent to disclosure of it to anyone who requests a copy. Theses and Dissertations AUC Knowledge Fountain Inflation Targeting Monetary Policy |
| spellingShingle | Inflation Targeting Monetary Policy Farid, Sarah Samy The viability of a fully fledged inflation targeting regime in Egypt |
| title | The viability of a fully fledged inflation targeting regime in Egypt |
| title_full | The viability of a fully fledged inflation targeting regime in Egypt |
| title_fullStr | The viability of a fully fledged inflation targeting regime in Egypt |
| title_full_unstemmed | The viability of a fully fledged inflation targeting regime in Egypt |
| title_short | The viability of a fully fledged inflation targeting regime in Egypt |
| title_sort | viability of a fully fledged inflation targeting regime in egypt |
| topic | Inflation Targeting Monetary Policy |
| url | https://fount.aucegypt.edu/etds/454 https://fount.aucegypt.edu/context/etds/article/1453/viewcontent/auto_convert.pdf |
| work_keys_str_mv | AT faridsarahsamy theviabilityofafullyfledgedinflationtargetingregimeinegypt AT faridsarahsamy viabilityofafullyfledgedinflationtargetingregimeinegypt |