Inflation Dynamics in Kazakstan

35 Pages Posted: 15 Feb 2006

See all articles by Mark De Broeck

Mark De Broeck

International Monetary Fund (IMF) - Research Department

Paula De Masi

affiliation not provided to SSRN

Vincent Koen

Organization for Economic Co-Operation and Development (OECD)

Date Written: December 1995

Abstract

In January 1992, Kazakstan initiated a reform program to move toward market-determined prices. The price liberalization process was characterized by large relative price shifts and an increase in the overall price level toward those observed in market economies. The paper shows how the piecemeal manner in which prices were liberalized resulted in strong relative price variability over a prolonged period of time, against a background of high inflation. Convergence toward international relative and absolute price levels has progressed but is not complete, with prices for energy and services in particular still below market economy levels.

JEL Classification: E31, P22, R32

Suggested Citation

De Broeck, Mark H.J. and De Masi, Paula and Koen, Vincent, Inflation Dynamics in Kazakstan (December 1995). IMF Working Paper No. 95/140, Available at SSRN: https://ssrn.com/abstract=883286

Mark H.J. De Broeck (Contact Author)

International Monetary Fund (IMF) - Research Department ( email )

700 19th Street NW
Washington, DC 20431
United States

Paula De Masi

affiliation not provided to SSRN

No Address Available

Vincent Koen

Organization for Economic Co-Operation and Development (OECD) ( email )

2 rue Andre Pascal
Paris Cedex 16, 75775
France

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