Emerging and developing economies, like advanced economies, have experienced a remarkable decline in inflation over the past four to five decades. Yet, research into this development has focused almost exclusively on advanced economies. This study provides the first comprehensive and systematic analysis of inflation in emerging and developing economies. It examines how inflation has evolved and become synchronized among economies; what drives inflation globally and domestically; where inflation expectations have become better-anchored; and how exchange rate fluctuations can pass through to inflation. The study emphasizes the benefits of stability-oriented and resilient monetary policy frameworks, including central bank transparency and independence. Such policy frameworks need to be complemented by strong macroeconomic and institutional arrangements in emerging and developing economies. The presentation at this seminar was based on a new World Bank study launched globally at this seminar: “Inflation in Emerging and Developing Economies: Evolution, Drivers, and Policies” edited by Jongrim Ha, M. Ayhan Kose and Franziska Ohnsorge.
Masato Miyazaki, Special Representative, Japan, World Bank Group
Ayhan Kose, Director, Development Prospects Group, World Bank
Franziska Lieselotte Ohnsorge, Manager, Development Prospects Group, World Bank
Jongrim Ha, Economist, Development Prospects Group, World Bank
Presentation Material：Inflation in Emerging and Developing Economies: Evolution, Drivers, and Policies （PDF）
Peter Morgan, Senior Consulting Economist, Vice Chair, Asian Development Bank Institute