Le ciblage d'inflation dans les économies émergentes

Since its adoption by New-Zealand in 1990, inflation targeting is becoming increasingly popular among central banks, especially in emerging economies. Today 26 countries use inflation targeting, and about three quarters of them are emerging countries. Despite promising results, the adoption of this monetary policy framework by this category of countries still raises a number of issues and is the subject of an active academic debate. The aim of this article is to examine the experience of non-industrial inflation targeting countries and to provide an overview of discussions surrounding the conduct of inflation targeting by these economies. In particular, this paper discusses the institutional requirements for monetary policy credibility and successful inflation targeting.