INFLATION TARGETING IN KAZAKHSTAN
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Date
2023
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Nazarbayev University Graduate School of Business
Abstract
This Master's thesis is dedicated to a comprehensive exploration of inflation
targeting in Kazakhstan, with a specific focus on its applicability within the
country's economic framework. Through a meticulous analysis of the factors
influencing inflation targeting and its effectiveness, this research seeks to
enhance our understanding of monetary policy frameworks and their impact on
macroeconomic stability in Kazakhstan. The study delves into the theoretical
foundations, empirical efficacy, and unique challenges associated with
implementing inflation targeting in the Kazakhstani context, giving special
attention to the crucial role of the National Bank of Kazakhstan. Drawing from
a diverse range of empirical studies, the thesis underscores potential benefits,
including the reduction of inflation rates and heightened transparency in
monetary policy. Employing rigorous case studies and empirical analysis, the
research emphasizes inflation targeting's positive impact on macroeconomic
outcomes, providing crucial insights for successful implementation.
Furthermore, the thesis introduces a method for determining the optimal
inflation target for Kazakhstan, utilizing the framework proposed by Ball and
Sheridan (2005), highlighting the feasibility of estimating a positive inflation
target based on accessible data..
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Type of access: Open
Citation
Mukhitdinov, M. (2023). Inflation Targeting In Kazakhstan. Nazarbayev University Graduate School of Business