Abstract
Given the changing challenges and obligations of current economic growth, inflation appears to have become an arbiter between the level of economic growth and the level of the general economy. Indeed, despite its economic pressure nature, inflation is sometimes used as an instrument of monetary equilibrium. However, if we look at previous studies, we see a clear disparity in inflation rates between developed and developing countries. The purpose of this paper is to understand this disparity, to analyse it and to give it consideration.
Highlights
Inflation emerges from macroeconomic uncertainties, and many empirical studies have been conducted in this area, but no emphasis has been placed on the disparity in results between developed and transition economies
This paper has examined the equivocation attached to this issue by opening up a new direction to all the work previously done
The first is an overview of inflation and its environment in the different regions considered in the study
Summary
In the 1990s, Sub-Saharan Africa posted growth rates of around 5% - 6% per annum. The general level of the economy improved with decreasing poverty rates and improvements in several social indicators. The exploitation and rise in world prices, followed by the acceleration of growth in many component countries, have allowed the region’s economic situation to show interesting macroeconomic results. Part of these results is due to the emergence of oil producers such as Equatorial Guinea and Chad, which recorded growth rates of 38% and 28% respectively in 2004. The region’s economy is still challenged by several vagaries such as reliance on food imports, the steady recovery of the general economy due to socio-political unrest, and a significant slowdown, which resulted in a real blow to oil and mineral exporting countries followed by a weakening of commodity prices.
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